The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-02
PEARSALL LOTS BRING $4l6,225.
Last of 42O Parcels sold at 7i3O Last
Nisht-Average, soOi a Lot.

Sale OF the Pearsall estate lots on Pei
ham Parkway, which began Saturday
morning. was concluded las, night at Z 40
o'clock. The 400 lots In the tract have
been sold for stl6,225 which is an aver
age OF 1891 lot. This is much less than
nearby lots brought year ago when the
transit construction affecting that part
OF The Bronx had hardly started. Few
professional buyers got any OF the Pear
sail lots. The buying was chiefly In the
hands OF small investors--school teachers,
city employees. store keepers and those
with small bank accounts.
Bidding was slow and tedious and the
sale dragged along. Progress and prices
were much better yesterday than on Sat-
urday. Beginning at IL Al, Mr.. Day
sold 1si lots up TO 1880. He received
S224.22 for them. which IL nm average OF
about N.240. The average at Satur-
days sale was ssO5. At that sale $40
lots were sold for $4,000. which was
n surprise TO many expert appraisers. who
figured the lots would bring much more
The absence OF professional buying may
account for this, as there Is nothing that
seiids prices along better than n cotss.e
OF operators bidding for property. This
was lacking both yesterday and Saturday.
Many professional buyers were ON hand
both days. and though they thought prices
were below those obtained for similar
sNNHh'N pipptiNg AT Section your
ago they permitted the buying to be In
the hands OF those who were probably
taking their flrst flyer in,o the realty
field.
Saturdays sale dragged along and at
$3.50 o'clock adjournment was called af-
ter 2S9 lots had been sold TO almost as
many buyers for $4,000. The sale yes.
terday was held In the Vesey street
salesrooms. About 1900 persons were on
hand when Mr.. Day asked for bids on
the southeast corner OF Lydig and Ten
brock avenues. Somebody offered $500.
In bids of 500 and then $50 the price
for the corner reached sl.225, which was
Benjamin Cohen's bid He got the lot
and then bought the one adjoining for
$500. Most OF those present yesterday
could not be Induced 10 bid more than
$500 for any lot. Many went for less
than $500.
The lowest price obtained for n lot yes
terday was 1915. which was paid for
several on the north side OF Lydig ave.
nue. between Narraganset and Van
Hoessen avenues. on SATURDAY. lots sole,
for $500. The highest price was paid for
the corner OF Wlll!amsbridge road and
Pelham Parkway. The corner. which has
frontage Of 6S feet and IL 40 feet In the
rear was bought for $4,000 by Frederick
Josephs. president OF the New York
Butchers Dressed Meat Company. Mr.
Josephs bought the adjoining lots on the
parkway over 10 Yates avenue for $40.
$50. For the Yates avenue corner he
paid 1890. The intervening lots cos
him from $4,000 TO $4,000 each. At the
other end OF the parkway frontage OF the
estate lots sold for $1,000 to sl.415. on,
OF these was bought by a Brooklyn
woman school principal and another by
an attache Of the Tax Department. In.
side lots on Williamsbridge road sold for
from ss75 20 S2.325. The latter price
was paid for the lot next 10 the corner oil
Pelham Parkway and williamsburg
road for which Josephs paid $4,000.