Perth Amboy evening news., 1924-12-18
PETER NELSON
PROPERTY SOLD.
$685. 100 aid at Auction by
Splitter for Property
in State Street
MANY ATTEND SALE
Stores Will Be RemodeIed by
New Owner, Is Claim
Hommann Conducts Sale

That part of the Peter Nelson es-
tate which has been in litigation for
the past several years. namely Nos.
335-S37. 341-343 and 500 State
street, was sold at public auction
yesterday afternoon in the council
chambers of the city hall to Sigmund
Spitzer for the sum of $126, 100. This
was $1,000 more than the property
brought when SOLD separately. the
total sum realized by that sale being
$119,100. Mr.. Splitter purchased the
property as whole.
Exactly at o'clock as advertised,
Judge Charles c.. Hommann, acting
as a special master in chancery,
opened the sale by reading the var
oius notices and stipulations. He
then explained the construction of
the buildings and of the various
rights that went with the sale of
each property. 1t was estimated
that at least seventy-five of the lead
ing real estate men and investors of
this city and vicinity were present.
Judge Hommann explained that
there are no leases on the property,
the tenants renting the property
from month to month. The terms
- IAAS N7tSAc WOAt tStA pCA tChl Set1AA
and the balance on February II,
when the deed Is to be delivered. The
court then called for bids, the prop
erty being sold in parcels.
The first parcel offered for sale
was that known as No. 335-337 State
street. C. M. Peterson was the first
bidder. his bid being for $4,000.
Bidding was quite spirited and the
parcel was finally bid in by Samuel
Baum for the sum of $52.500.
Mr.. Peterson also opened the bid
ding on parcel known as 339 State
street. His bid was $4,000. The
high bidder on this property was
Harry B. Afflerbach, his figure being
500, 500.
Bidding for the third parcel,
known as 343-341 State street, was
started by Morris Goldberger for the
sum of $4,000 and was bid in by
George Miller for the sum of $37,-
100.
1t was then announced by Judge
Hommann that the total amount
realized for this property in parcel
lots was $119,100 and that the en-
tire holdings would then be sold as a
whole, no bid being received as a
starter for less than $119.100.
Adolph Greenbaum then opened
the bidding by offering 100000 for
the entire lot. Bids came thick and
fast until the $125,000 mark was
reached and then it narrowed down
between three or four persons and
continued to raise under bids OF 500
each until the sum of $126,100 was
bid by Mr.. Splitter. When it was
impossible to receive any additional
bids the property was sold to Mr..
Spitzer for the above sum. Attor-
neys representing the estate were
questioned as to whether they
thought the price was high or low
for this particular property and they
declared that the price set on the
property ranged from 100000 to
$150,000 and that the price obtain
ed was about right.
Following the sale Mr.. Splitter in
formed the writer that as soon as
the deed Is transferred the buildings
on the property will be remodeled,
the floors being lowered and new
modern fronts installed. The prop
erty is considered some OF the most
valuable business property in the
city and has the following tenants:
]. Kohn, ladies dresses and suits;
Joseph Jaffe, mems furnishings;
Barnekov & Petz. drugs: L. B. Rook,
toys and novelties. and The Miller
Supply Company. hardware.
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