The sun., 1899-05-28
REAL ESTATE xBra

Until the announcement OF the series OF Filth
avenue sales. the past week was much like itt
predecessors in general interest With the
single exception OF the sale OF . Broadway
business properly. the private sales branch oi
the realty market was practically inactive
The sales reported were unimportant
there were no new movements in-
stituted and the two which had been
30 prominent for some time had apparently
settled down for period OF comparative In
activity. The purchases OF plots on Central
Park West were made by operators. The
only other transaction OF note was the pur-
chase by a Jewish congregation OF a site on
East Seventh street for a synagogue. Ths
week then. up to the time OF the reporting otthe
Fifth avenue deal. was hardly above the av-
erage.
The important transactions along Fifth sve-
nue. changed the complexion ofthe market ap-
preclably. and Just what their ultimate effect
on city realty is to be depends on the use to
which the property is to be put. Mr.. Mills 10
the only buyer 30 far whs has made any state
ment regarding the disposition Of his purchase.
and he admitted that he had not yet deter
mined upon any definite course OF action. 1t
10 improbable that Messrs. Travers. Bull. Ham
mond and Borden will build residences on the
plots acquired by them. The environments
are not favorable A short distance up tho
in the rear the same thing is true. II the pur-
chases have been made as investments pure
and simple the effect will be far better than II
houses are erected. In the first case. the trans
actions will mean that men who are In posi-
tion to Judge have perceived the advantages OF
an investment in Fifth avenue realty and
have accepted the opportunity: in the second.
the Interpretation must be that the buyers
have decided that the section Is desirable
one for residence purposes. regardless OF pres
eut or future values and all the minor details
OF real estate transactions.
The week was far from success In the
auction room. The Withdrawals and post
ponements were numerous and suspicion was
directed toward one sale which was advertised
as absolute. Auctioneer Meyer was success
full in disposing Of all the Central Bridge lots
but the success was attained through decided
sacriHce OF some OF the properties. Only
thirty-seven OF tho n'ty-flve lots at Pei
ham Manor Park were sold and OF the
157 Williamsbridge lots offered only four
were actually disposed OF. On the
other hand. the sales by James l..
Wells. Charles A. Berrian and A. II. Muller i
Sons were fairly successful The probable ex-
planation OF the failure OF those sales which
were really absolute lies in the fact that the
property was not located in active localities.
This would seem to be especially true OF the
Pelham Manor Park properties. AS for the
sales which were advertised as absolute. but
which were lot. the failure was to be expected,
and almost welcomed. since the injury such
sales intict on honest auctions is evident.
As for the auction sales which are scheduled
for the near future that Of the Cammann es-
tate. consisting OF $50 lots on University
Heights, is causing the most comment. The
inquiries at Auctioneer Ryan's office are nu-
merous enough to indicate the keen competi-
ton when the sale is held. The property itself
is In the line OF direct development in the
borough Of the Bronx. The book maps pre-
pared for this sale are superior to anything Of
the kind heretofore seen. There are dozens
OF photographs OF the different parcels.
and bidders will have exact reproduc-
tens OF the property to guide them. The
date OF the sale is June 8. and on the following
day the country home Of the late Samuel j.
Tilden will be sold in the city OF Yonkers. The
proceeds OF the Tilden sale will be devoted to
the New York Public Library under the articles
OF Mr. Tildens will. There are many other
sales in the near future. including one by Auc-
tioneer Jere. johnson which involves Brooklyn
property. The auction sales Of suburban prop
active trading OF fall begins.
The following are the comparative tables for
Manhattan and the Bronx OF the conveyances.
mortgages and projected buildings for the cor
responding weeks OF 1899 and 1893 as COM
piled by the Record and Guide: