34





Record and Guide





Januuary 13, 188tt





The Jones Estate Elook.

Never did an auction sale of New York city property create greater
interest than tbe recent sale, on the Real Estate Exchange, of the realty
belonging to the estate of tbe late Joshua Jones, Never was such a sight
seen in the annals of real estate as the eager-, hustling, excited crowd that
thronged to overpouring the Liberty street salesroom on November 22d
last.

The'Jones estate sale will always be a red letter day in the history of
gi^at public sales of realty iu this city. It was not alone that the sales
a^i-egated nearly 83,000,000, and that tbe properties were auctioned off in
less tbau two hours' time. People also came to see what would happen
to prices when a perfect shoal of vacant lots wei-s thrown on tbe market at
one stroke. Friends of tbe deceased milbonaire wanted to see what figures
would be I'eacbed for lots which were originaUy purchased for a mere
trifle. Brokers, agents, merchants, clerks, bankers, and capitalists of every
description elbowed each other for nearly two boui-s, and watched with
''bated breath" while a crowd of nervy bidders were seeking to get a
parcel of the two blocks which had lain dormant for so many years, while
the mason's trowel had reared row after row of buildings all around them,
to the right, left and front. Tbe market stood the test as few had expected
it would. Not a lot was left unsold, and there were buyers on the Exchange
■who would have been vrilhng to pm-chase more still had they been offered.





by the weU'loiown property-owner, Mr. Charles T. Barney. It has 6dso bees
arranged upon that the residences to be buUt on 75th street are to be set
baCk 8 feet beyond the house line instead of only 5 feet, as is usual where
such restrictions are made.

The character of the property is ah-eady determining itself. Beginning
at a point 100 feet east of 9th avenue on tbe north side of 74th street, no
less than 475 feet, or eighteen lots, have already been purchased for
improvement. Tbe fii'st 100 feet will be improved by Messrs. CoUeran
and Brother,.thenext byWm. H. Jacob, and the four lots adjoining by Mr.
R. Le Foi-te, a gentleman distinguished in decorative art circles, who only
recently returned to this city after sever-a! years sojourn iu Europe, and
who selected these four lots for tbe investment of his capital. The 50 feet
adjoining will be improved by Messrs. Cunningham and Ehrich, while the
plot of 69 feet further east will be built upon by Mr. F. Aldbous. All this
property will be improved with private bouses of a first-class character.
Between them and the lot purchased at the sale by Judge Dugi-o there is a
vacuum of 181 feet, and this, too, wil! no doubt soon be sold and improved
with private residences, Michael Brennan, the well-known builder, will
improve five lots on tbe Central Part West front with handsome apartnifeut'
houses which will be an ornament and not a detriment to the block. Mr,
Vernon K, Stevenson still owns the southwest corner on that avenue and
75th street, and Judge Dugro two lots on the corner of 74th street.

The diagram given below shows, at a glance, names of the owners ou





This block front (33 lots) was sold June I, ISsa, to Ashbel H, Bamey for 6320,000.   The 33 lots opposite brought S404,650 at the Jones sale.

800





7SfU SXKEEX.      (Restricted to Private Dwellings).





100





g     A, W. Frazer.





Wm. Strauss.





0, McCrorken.
owner.

100





600





100
Stevi
owner.





V. K. Stevenson, jn





This plot of 94 lotB was bought at^the Jonea sale by F. De K, Wisemanu for $264,000, and resold to
Henry morganttaau et al, for $384,000.





Colleran Brothera
will build here.





100





Wm. H. Jacob

will build here.

IOO





E. Lo Forte
will build here.

100





CuuniuK-
baiu &
Ehrich

will im¬
prove
these lots





50





Fred.
Aldhous

will build
here.





e9





Micbael Breniiim will
erect two first-class
fiats on this plot.





This plot for sale by        ——
H. Morgeuthau.          I





131





Judge P. H. Dugro,
owner.

100





14tli





STUEET.





The Clark estate are applying to the Court on behalf of Ukfant who owns the property to restrict these lots-





■ss





Clark estate houses.





73d





STREET.





The Dakota.





But let us take a seai-ch into what has been done with some of the vacant
properties since, and what is likely to become of them in the way of
improvement,

The first lot resold was disposed by Judge P. H. Dugro to Michael Giblin,
the builder, for $32,150, an advance of S3,150, a few day after tbe sale.
This lot is situated on tbe northwest corner of 9th avenue and 74th street,
and is to be improved by the erection of a very handsotre apartment house.
Almost simultaneously tne twenty-four lots purchased by Broker F, De R,
Wissmann were resold to Messrs. Henry Morgenthau, Wm. J. Ehrich,
Charles "Weinberg and Alfred T. Lewai-d for §384,000, an advance of
$30 000. This, with the 60U feet comprising the '74th street front purchased
by Messrs, Morgenthau & Ehrich and R. A. Cunningham at the sale for
1283,200, brought the holdings of Mr. Morgenthau and his friends up to
forty-eight lots, costing $567,300. Purchases of this character and by such
a shrewd judge of real estate as that gentleman is known to be, show that
the property is going to have an important futui-e before it. And, as if to
bear out this view, the news reaches me that there is not the least doubt
about the report as to the restriction of this property. I am able to state
on the very best authority that not only tbe northern front of 74th street,
but also both aides of T5tb street, will be restricted to private residences.
Besides, aa though to give an additional guai-antee to the selectness of the
location hereafter, the entire northei-n front of the latter street is now held





and near the block, the improvements contemplated, and other informa¬
tion that will be of interest to those who own property in the neighbor
hood, Tbe 600 feet owned by Mr. Morgenthau on tbe south side of 75th
sti-eet, between the Central Park West and 9th avenue fronts, are not yet
disposed of for improvement, but they are to be offered for sale to builders
or investors, iu large and small parcels, who will conti-act to cover the
property with first-class residences that will give tone and character to the
block,

I learn that the Clark estate have made application to the Court on
behalf of a minor who owns tbe property on the south front of 74th street,
to restrict it in a similar manner to tbe frout in tbe rear on tbe north side
of 73d street, which is covered with such a row of fine residences—tbe
pioneer row of the west side. This application, if granted—as it no doubt
will be—will greatly benefit the Morganthau block and place the final seal
upon the character of the neighborhood which, iu a year or two hence,
wUl have become one of the finest and most select ou the west side.

Obbebver.





A meeting of the Washingtan Heights Taxpayers' Association will taka
place on Saturday, the 12th inst., at 8 p, m,, at the new Mount St. Vincent
Hotel, 10th avenue and 148th street. The Committee on Constitution and
By-Laws and on Nomination of OflScers wiU submit its I'eport for confirms-