New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-07
BUSINESS GETS INTO HOME CENTRE
Well Known Firm of EmbrodererS Buy Site for Their Use
54th Street Short Dist ance East of Park Avenue
VALUABLE VAN C0RTLANDT LOT SALE TOMORROW.

Pause e. Gilman have sold for MIS-
Thomas Kelly the three story ana oase-
uent dwelling house No. 1856 East o4th
street. on a lot 176xl00 feet The purchas-
ers. Misses Elizabeth and Esther De La
Reussille, embroiderers, are now at NO loo
Fast Dist street. The block Is between
Park and Lexington avenues and hereto-
fore has been exclusively residential. ms
Will be the first business establishment
on II
Just east Of the property IL the block
where William Rockefeller spent thousands
of dollars in buying property so as TO pre-
vent the building of an extension or the 81
Regis Hotel
When Joseph P Day offers for sale to-
morrow morning at 1870 o'clock on the
property the first lot of the Van Cortlandt
estate. on and near Broadway and adjacent
TO the 23sth street subway station. he VIII
start the largest land sale in this city since
the memorable Ogden estate sale in the dls-
trict Just south of this. held five years ago.
He will also offer the last property OF good
size on Broadway that is likely TO be sold
Mt auction as well as the last estate in The
Bronx which has come undivided from CO.
lonial times.
There are 179 lots in the tract which Is 10
bs sold. tucked away between Van Cort-
iandt Park on the north, Mosholu Parkway
on the east. Jerome Park Reservoir and
18th and 23sth streets on the south and
Broadway on the west. They are all that
remain in the city Of an original tract OF
5000 acres and they are to be sold in par
tttion by order Of the Supreme Court on the
application of members of the Van Cort-
hndt family. so that they may get and d.
vide the money tied up there. Managers OF
the sale have announced that the lots will
be sold absolutely without protection. and
they have said that every lot will be sold.
Mr. Day said yesterday that while the
general condition of the real estate market
was not such as to warrant prediction
Of record prices, he expected that there
would be buyers on hand for every lot. for
the inquiries for booklets of the property
and for information as to terms of sale
have been more numerous than for any
sale which his Office has conducted During
the last few weeks several thousand per-
sons have visited the property. who have
given special attention to transit facilities
These include the present subway. with a
station at 23Sth street; the New York &
Putnam Railroad. with a station one block
north of the property. at Van Cortlandt
Park, and the Kingsbridge avenue and
Broadway trolleys. Considerable interest
also was shown in the location Of the sta
ton of the new Lexington avenue subway,
which Will be on Jerome avenue, at the
sasterly end of the property.
Among those who have visited and looked
over the section have been many OF the
well known real estate operators Of Man
haitian. who, while not giving any state
ments as to the worth OF the land' nave
shown their interest in 1t by examining
II carefully spending much time. especiai-
w over the sections which look best Tor
their purposes. BY far the larger NUMBER
of visitors to the property, though, nave
been persons who have indicated to those
In attendance that they desire sale ana
sure investment calling for comparative
Nv small amount of money, and nave declu-
ed on this property as fulfilling their lc-
ouirements. quite good many have SAID
that they bought at former city land auc-
,ion sales and either have sold at profit
and wish TO reinvest, or that they could sell
at a profit what they already own
There have been many inquiries of the
managers of the sale as to the proDdDle
prices the various lots Will bring, put no eS-
innate could be given. for while those IN
terested in the property have certain ngures
which they hope to realize the best answer
they can give is that the prices VIII be
whatever the individual bidders believe the
various lots to be worth. or are willing 10
nav for them Several brokers who have
had experience in the vicinity of the prop
erty are taking commissions to buy lots tor
those who wish assistance in their b1odlng
snd they have used the prices paid by real
estate operators in adjoining sections as
basis I'm advising customers IN regard 10
the Van Cortlandt property.
Many people have commended the mana
gers of the sale for their plan of holding
it in the open, on the property. instead OF
IN the stuffy auction room. The advantages
are that a buyer can see what he is bidding
on. and there will be room enough in the
space selected for the sale for every bidder
70 attend the sale in comfort. Mr.. Day
has engaged the services of a capable ca
tsrer. who will serve luncheon without cost
TO those who wish it.
II is announced that savings banks DOCKS
will be taken on proper assignment as de-
posIts on the purchase price of lots. and
that the property will be sold free and
clear Of all encumbrances. except restrlc-
lions leases. encroachments and the like
on certain lots. 10 which attention VIII be
called at the time of the sale