New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-08

Quite a new feature in the auction MAJ
ket is the interest which local brokers d,
taking in the Van Cortlandt estate eaie
to be held to-day at 1890 o'clock by Joseph
p. Day on the property on and near broao,
way at 23Sth street. \ large numUe' Vi
them are offering their services 10 GUS
TONERS to bid for them on lots when theS
wish to purchase II Is reported that 'heSe
brokers are receiving a large NUMBER VI
commissions. especially from operators Who
do not wish 20 bid for themselves, not only
because they wish TO cloak their identity II
they get some of the lots. but as well Tor
fear that the prices win be run up II 1t is
seen that well known men hid on the land
Managers Of the sale see in this action
ty operators an effort. which they have
found no means to overcome. TO get the
property at the lowest possible prices IN
a public sale like this. where prices are
regulated largely by what the Wen IN
formed ones are willing to pay for lano'
operators bidding in the open might give
n hint Of value 10 others when mls"'
cause them To lose the lots they want d.
their own prices.
MANY persons who cannot afford the tline
70 bid on lots for themselves also are en-
ploying the services of local brokers' IL
is hardly possible that the property can
be sold in one day; some folks are ngurlns
on q three DAYS sale, and rather than wait
for the lots they desire TO be offered they
are giving others commissions to DO the
waiting for them.
The question has been asked many times
recently OF those handling the sale II the
property actually is to be sold regardless
of price To these inquiries 1t has been
eaid that the Van Cortlandt family does
not want the property any more. The city
has grown so fast all about the section
and land values have piled up so rapidly
that the cost of carrying the big tract is
more than the members of the family wlsh
70 pay. Each year taxes are growing ana
while they could stil make enormous sums
II they continued 10 hold out, they have
not the facilities for improving the lano
themselves as it should be improved 10 De
IN keeping with the rest of the nelghoor-
hood, as builders probably will do as soon
ss they get title TO the land.
The interest which professional dealers
are taking in the sale is not taken as an
augury OF high prices. AS rule sucn
persons do not bother with land which II
seems to them will bring fairly high rates
They look rather for property where the
margin Of profit will be reasonably large
Their interest is, however, taken lot a
sign that the property is desirable at the
prices 1t is expected by them TO bring.
Even those who are holding the sale re-
alize that the present market is poor
one in which to dispose of such large
amount of vacant land, although 1t is in
a section where a good demand exists Tor
dwellings. They really are not expecting
10 get nearly the prices they would hope
for in an active market, but the owners
are making no demands except that every
lot be sold and that they be relieved from
further care in the handling of the prop
erty.
The property at No % Third avenue and
No. 2 TO IA Stuyvesant avenue has been
sold by the Folsom Corporation for Ronald
X. Brown, trustee of the estate Of George
Chesternan. 1t is directly opposite the
Bible House. In StuyvesaTt street it has
a frontage of about 15S feet and Bill feet in
Third avenue, with a small frontage in 9Th
street. The average depth Of the property
is about 70 feet A group of brick ana
frame two story buildings, among the old
est in the city. now occupy the site. The
property has been in the possession Of the
selling family for many years