New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-29
ALDRlCH SALE THE FEATURE
STABILITY OF REALTY MARKET SHOWN
WEEK BY PRICES OBTAINED FOR ESTATE Phi
Found Many Choice Vest Side HodngsFa Num-
bero of Dosonocn Deals also Reported.

The voluntary auction sale of the A1driCh estate
holdings held Wednesday by Bryan l.. Ken
reilly at the Exchange SaIesroom, Nos. II and 10
vesey-st. at which s4aL5oo realized. clearly
demonstrated the stability of the realty market
Not only did the market absorb nearly $9.voo'Vo
worth of property in day but when the last
parcel of the offerings had been disposed of under
the hammer the highest bidder il was the opin-
ion of many OF the realty leaders present that
If Mr. Kennedy had called upon the market TO
take over $4,000 600 worth of property in day,
it would have done Just quickly and as pleas
ingly as it took the Aldrich holdings.
And this auction sale held on the fourth
month after the Mortgage Tax bill became law.
and a time when scores of men prominent In
realty working together to bring about repeal
of the law which they assert has already made
interest rates higher. and has therefore placed an
extra and unnecessary burden upon the Dor
rover.
In view of what the majority of realty leaders
are saying about the Mortgage Tax law. II is no
wonder that some persons unidentified With the real
estate market expressed surprise at the good prices
obtained the Aldrich sale and the eagerness
shown by large numbers of persons to be among
the successful bidders. Realty men would have
been sorely disappointed If the sale had been
failure For they knew-no matter what they say
about the Mortgage Tax law-that no mortgage tax
law like the present one has the power to arrest
realty progress. The law unquestonably places
little larger burden the speculative builders ard
other persons who must borrow money on real
estate For though the law says that the lender
must pay the tax the borrower is the one that
pays it.
slawson & Hobbs figured in a number Of large
transactions in the week They sold Tor A - az
IA M Hall to a client for investment the Iona. the
new six story thrty-six family elevator apartment
house with stores size 10Sx11s feet. at the north
west corner of St Nicholas-ave and 24th-st., for
about 100000. 1t faces Hancock Square
The same firm of brokers also sold for the Realty
If Herman a
plot. 1OOx1O011 fee. the north side of 115th-st.
IT'S feet west Of Broadway The purchaser will
begin Immediately the erection of high grade six
story apartment house the site. Also sold for
George L. Elliott 10 client for occupancy the
three and one-haf story high stoop dwelling house
No. S22 West 77h-st size 22x5Sxl022 feet Also sold
for William F. Havemeyer, to client for occu-
pancy the three story brownstone high steop
dwelling house No. $50 West End-ave. ZoXoIX6s
feet; for Mrs Susie Smith client for occupancy
the three and one-haf story brownstone dwelling
house No. SIG West 77th-st. \22x60xl022 feet; for
Carroln G. billiard to client for occupancy the
three story brownstone high stoop dwelling house
No 2s6 West 7st-st 6Sx5Sx1005 feet and for Louis
V. Bell No SO West Ssth-st., six story American
basement dwelling house, plot S2oxlO0S feet
Thousands of dollars were spent by Atr Bell. it Is
said. in decorating the walls with antique tapes
tries and japanese embroderies- The house was
built about four years ago from plans by John H.
Duncan.
The City Investing Company bought from Frank
lin Petit Nos. 9s and 2l0 West 72d-st.. two four
story dwelling houses on a plot 5ox.022 feet. adj
Joining the Colonial Club The size of the club and
dwelling house parcels is 81 11x1lbx Irregular
NJ Ruben & Co sold a plot of twelve lots. SooxsSn
feet on the south side of 13eth-st. 1 feet east of
Ienox-ave for the Northwestern Realty Com
pany H. Horwitz and John Wynne to Frederick
n Nader
The Mcvickar. Gaillard Realty Company sold for
julius Stollofr client the five story triple fiat
house with stores at the northwest corner OF 134th
st and 5th-ave., lot 25x1i0u feet
L. j. Phillips e. Co. sold for Bernard 10th to
Herman Cohen and Abraham Ruth plot. 25sloxlO0
feet on the west side of Edgecombe ave. 2S10 feet
north of 145th-st.
Hall J. How & Co sold for Max Marx plot
of four lots Ishan-st- and Broadway, recently
bought by him from the Jay Gould estate. Sons
other plots which were also purchased by Mr.. Marx
from the have been sold
j. Howard Wright bought for about $4,000 No
81 East 5lst-st. a six story American basement
dwelling house a lot 22xl00b feet. through Henry
D. Winans & May. from the National Realty Com
pany The house was the last remaining unsoid
Of row OF dwelling houses built by tbs
company.
The firm of brokers sold for Mrs. j. II.
Sweetser No 81 West 5sth-st, four story brown
stone front dwelling house on a lot 2lxit05 feet.
William r. Chesebrough and Daniel B. Freedman
plot 4sx73 feet. 10 feet north u CUrtendt-st. from