November 19 1881





The Real Estate Record





1075





the Eastern Parkway, 24 lots, for a total of $98,750,
or, including No. 1. of $108,400, a figure far in advance
of the most bullish estimates. Tbe sale proceeded
without interruption m-til lot No. 49 was knocked
down, when Mr J. H. Warwick arose in an excited
manner and called attention to the fact that a system
of telegraphic signals were being used between
Commissioner Stranahan and G. G. Dutcher, and
that the former was advising the latter when to bid,
which, he claimed, was not right, as the crowd
had come to attend a free sale to the highest bidder
without reserve. Mr. Stranahan acknowledged that
he had advised Mr. Dutcher to bid, but maintained
that he had a perfect right to do so as Mr. Dutcher u as
buying the same as everyone present, and would pay
his money in g'.od faith, but tha"; hereafter he would
refrain from holding any communication with Mr.
Dutcher, who was a relative of his, and when they
wanted to buy he and Mr. Dutch, r would both bid for
themselves, so that everything would be above board.
After this, the sale proceeded without trouble, the
prices of all the choice lots being excellent, in fact so
high wete they that the contingent from the New
York Salesroom were left out almost entirely. After
£95 parcels were disposed of, for a total of about half
a million dollars. Commissioner Stranahan withdrew
the balance of the property until some future date,
and announcing at the same time that he would peti¬
tion the Legislature for the right to sell the property
on the other side of Flatbush avenue. The parcels dis¬
posed of comprised lots on the Plaza and Plaza street,
Flatbush avenue, Butlei street, Douglass street. Under
hill avenue, Degraw street. Eastern Parkway and
Park place. To say that the ownersof Brooklyn renliy
were pleased with this sale but faintly expresses
their feeling, and it is safe to say that the prices
realized were from 30 to 50 per cent, greater ihan
even the most ardent believer in this property antici¬
pated.

Both the auctioneer and the immense throng of
would-be buyers present wi-re greatly surprised as
well as disappointed when Commissioner Stranahan
announced his intention of withdrawing the balance
of the property advertised, for although the purchase
of th- front on Butler street, at $700 per lot, by Henry
Weil, was a bargain, yet the average of all the parcels
sold was high, and the crowd were evidently in a buy¬
ing humor. After the sale was over the writer in
conversation with a number of gentlemen discovered
that there were more than one person present who
proposed to purchase blocks of lots, and were pre¬
pared to pay a round figure for them. President of
the Park Commissioners, J. S. T. Stranahan, is, as
everyone knows, a great bull on this properly, but the
best evidence of his not thinking that the property
was very cheap is the fact that he only purcha.sed
three parcels, and in several instances stopped bidding
on other lots long before the price at which they were
knocked down was reached. There was some un
favorable comment arao'g those present, as to the
propriety or legality of the city taking a man's prop¬
erty for a specific purpose at a valuation none too
high, and then not using it for that purpos , but re¬
selling It to the highest bidder at auction. But w en
these gentlemen were reminded that, if they added
to the amount the city paid them in 1860, the taxe.«.
assessments and interest on the mo-ey, they would
find that they had not made a bad bargain. At
even the hi h range of values which this sale
has established, thty could but acknowledge th^t
they were not badly hurt. That this sale will give an
impetus to real estate in all sections of Brooklyn was
conceded on every side. Mr. W. Cole, in convt-rsatiou
with the representative of the Real Estate Record,
expressed himself as much pleased with the result of
the sale and said that the prices obtained for the cor¬
ner and other desirable lots was more thau satisfac¬
tory and far beyond his anticipations Ex Mayor
Smith Ely. Jr., of New York, some days since an
Dounced his intention of picking up some cheap cor¬
nier lots at the great Brooklyn sale, but although he
was a bidder upon several choice parcels, there were
others present who placed a higher valuation on the
:same lots, so he did not secure any. The creditable
manner in which Auctioneer Cole conducted the sale
^was a matter of comment on all sides, and the waj* iu
-which he kept the large crowd in good humor was
\worthy of all praise.

On Friday morning Mr. Charles Kellogg notified
:the Park Commissioners that he would pay all cash
tor his purchases. It is also understood that a large
:number of the other buyers piopuse doing likewise

A movement is already underway to induce the
Commissioners to sell the balance of the property in
about two weeks, and a prominent Brooklyn capital¬
ist, who is also a well-known Pine street man, called
•on Mr. Stranahan early yesterday morning and guar¬
anteed that if such a sale should be decided upon,
that certain blocks which he named would not be
Allowed to be sold below a figtire named, and it was a





stiff oue. A number of oiher gentlemen called at the
ofllce of the Brooklyn Park Conuuission yei.terda.\
morning, and there was but one opinion iu regard to
the succe.ss of the sale—that Brookb n property had
never before conmianded such high figures. Full
particulars, giving the name of purchaser and price
paid for each lot, are given in another column.





OIT mOM TIIE BUILDERS.

The work of blasting the rock on the plot of ground
at the northeast corner of Madison avenue and
Fiftieth street has b' en commenced, and it is the in
tention of the owner, Henry Villard, the President of
the Northern Paciflc Bailroad and the Oregon Steam
Navigation Company, to improve it without delay.

Mr. Villard has just returned fo New York from a
visit to Oregon and has not positively decided upon
the nature of the bui Id irg to be erected on the above
described corner, but it is more than probable that it
will be a handsome private residence for his own use,
from designs already drawn by Messrs. McKim
Mead & White.                                                              '

Mr. E. F. Coe, of 663 Fifth avenue, is about to erect
a stable, to be known by the street No. 115 West
Fifty-second street. It will be 25x90. two st ry high,
the front of Philadelphia brick, with blue stone trim-
Kiings, and will be finished throughout in yellow pine.
Architect, E. Gandolfo; co-it, S6,l03.

E. Gandolfo is drawing the plans for two three-
story frame cottages to be erected at Engiewood,
N. J., by Jaiob S. Wetmore, of 49 Cedar street. New
York. They are to be built in a style tending towards
the old English rural architect"re, and will cost S3,000
and $5,U00 respectively.

Ground was broken on Monday last at the north¬
west corner of Madison avenue and Seventy-second
street. It was currently reported that Mr. C. L. Tif¬
fany was about to erect three dwellings on the above
premises.

We can state by authority that this was an error,
and that Mr. Tiffany is about to erect a palatial pri¬
vate residence, to be occupied by himself together
with his son and daughter. This family mansion will
have a frontage of 75 feet on Madison avenue, and
extend 100 feet in depth along Seventy-second street.
It is to be of an original and unique design, differing
in all essential features from any house ever erected
on Manliattan Lsland. The flrst story will be of
brown stone, with au extensive and highly ornament¬
ed entrance, the upper stories of brick with blue stone
trimtuings. Mr. Tiffany will spare no expense to
make his new mansion an ornament to the surround¬
ing neighborhood.   J. D. Crimmins is the contractor.

Mr. J. H. Pool, of New Brighton, S. I., is about to
rebuild his house recently destroyed by fire, ou the
same site, from plans drawn by E. L. Woodruff.

Dr. Robert M. Reynolds is about to build in Ninety-
third street, between Eighth and Ninth avenues, a
dwelling 2i)x60. The front will be of brown stone, ar¬
tistically treated, from designs by Horace Greeley
Knapp.

The same architect has also just completed plans
for a handsome collage to ba built by Mr. C. H. Rob¬
inson, at Nantucket, Massachusetts.

Extensive buil.iing operations are in contemplation
in and about Yonkers, and a number of preliminary
studies for residences for that locality are iu course of
prepai-ation by Mr. Knapp.

Johu D. Crimmiiis will immediately improve the lot
on the south side of Sixty-third st et, 200 west of Sec¬
ond aveuue, by the erection of a four-story brick ten¬
ement.

Anthony^lowbray proposes to improve the plot of
ground owned by him on the north side of Sixty-ninth
street, be ween Fifth and Madison avenues, 00x100, by
the erection under contract of a private dwelling, with
a frontage of 27 feet, on a similar plan to the one he
is now completing in the same location. Ou the bal¬
ance of the plot he will erect a magnificent residence,
having a frontage of 33 feet.

Brooklyn.

John Kipple proposes to erect at once a three-story
flat house on Manhattan avenue, nt-ar Noble street.

The Emai uel Baptist Church propose to erect a
chapel ou the properly receutly purchased by them
at Lafayette avenue and St James place, Brooklyn, at
an outlay of $30,000.

It is reported that Mr Charles Kellogg, who pur¬
chased a plot of a little over one and one-quarter
acres fronting on the Plaza, Flatbush and Underhill
avenues and the Eastern Parkway, for $108,400, is the
representative of a syndicate of capitalists who pro¬
pose to erect on the above site a mammoth hotel, the
equal of which many citizens of the Citv of Churclu's
have never dreamed of sei-itig in their municipality.

President of the Park Commission, J. S. T. Strana¬
han, proposes to erectainaguificent private residence
on the Parkway, on a portion of his purchase at the
great Brooklyn sale on Thursday last.





SI*ECL\L NOTICES.
Messrs Dow & llifchcock. uhose car<l we publish
elsevi here, while d..in>,' a general re«l estate business,
make a specialty of selliug lots aud arranging build¬
ers' loans.

Alteniion is called to the advertisement of Alexan¬
der M. Lesley, of 380 Sixth avenue He is the maini-
facturer of a new furnace called the *' Rotunda Fur¬
nace," which, it is claimed, lays over other furnaces
in that it is very economical, self cleaning, and there
being only three joints there is no possibility of gas
escaping. Besides, the shaking and dumping grate is
very simple and ea.sily managed; the fire pot is heavy
and durable, and the corrugated radiator and dome
have an immense radiating surface. People contem¬
plating the purchase of new furnaces might call at
the above address and see for themselves.





MARKET REVIEW.





REAL ESTATE.
^^ For Il8t of lotM aud houMefi for Male
"iee pasen Ii aud Iii of advertlMenieutH,

There were several sales of interest during the past
week. Prices are steady and transactions are moder¬
ate for the season. The event of the week in New
York was the sale of forty-two lots on the West Side
belonging to the Furniss estate If the provisions of
the will had been carried out, all of the Furniss
estate would have been sold while prices were still
high, but the trustees, who were reputed to be among
the soundest and shrewdest business men of New
York, failed to realize the gravity of the panic of 1873.
Thev postponed the sale and one of the heirs, since
deceased, went to law to compel the disirlbution of
the property. Some of the lots were sold in the fall
of 1877 when prices were at the bottom. A corner lot
sold then as low as $3,000, which in 1872 woidd have
brought $12,000. It is idle to disguise the fact that
the sale of last Tuesday of forty-two lots of this same
estate was a disappointment to operators. They
hoped for higher figures. The sale, however, settles
one matter, there is no unwholesome excitement iu
unimproved really and certainly not in West Side lots.
Their time will come some day, and all ivho purchase
at the flgures of the sale of last Tuesday will do well.

The fall season is ending with a great many unsold
houses on the hands of builders. They ar^ all willing
f> make sacrifices, and new and well finished build¬
ings are offered at figures less than tho.«e these same
houses would cost to build to-day, taking in view the
price of labor and material. This fact of itself will
in time reduce the number of houses in the market
but will probably check building operations until next
summer. Should rents advance. i»s is not unlikely,
the surplus houses on baud would be rapidly worked
off. It is quite true the increa-ed price of labor and
materials has cheeked building operations in all the
suburbs and in New York

One of the great real esta.e events of the week was
the sale of -iO.^ of the 1,000 Brooklyn lots advertised to
be sold. This is fully and graphically described in
another column. The prices, it seems, were much
higher than the most sanguuie could have anticipated,
and it really looks as if the disposal of these lots will
mark a new era of build! g activity in our .sister city.

The es'ate of the late Elisha Brooks is to be sold ac
the Exchange, November 29. See announcement
elsewhere.

R. V. Harnett will, next Tuesday, sell six choice
Utile houses on One Hundred and Thirty fourth
stree'. They will be desirable residences for persons
of moderate means. It is said that the sale of the
Turtle Bay prop- rty, last Thursday, was merely to
perfect a title

A lot on Fifth avenue, near One Himdred and Tenth
street, sold for $10,I)00 last week, at auction, on the
Exchange. It was worth at least $15,000. It was not
sufficiently advertized.

Gossip of the Week.

Messrs. T. S. Clarkson & Co. have sold, for Hugh
Bles:ion, the three-story brown stone dwelling. No. .54
East Seventy-fifth street, 1.5x75x102 2, with dining
room extension, to Melinda Schmidt, for $28,500. and
the three four-story brick dwelliugs, with stores, No.
180, 182 and 184 Sixth avenue, 60 9x100. for $60,000.

John Davidson has sold the four-story brown stone
dwelling. No. 104 East Sixty-first street, 20x67x100, to
James Muir, for $:13,000, and No. 106, the adjoining
house, and its counterpart in every respect, to Walter
F. Brush for a like consideration.

WiUiam P. Parsons & Son have sold the four story
brown .stone house. No. Ill Ea-st Sixtv-foiirth street,
21x7.5x100, to Charles E Hall, for $:«,000.

Frank Stevens has sold the following houses, all
located in Jersey (5ity: The three-story brick dwellings
No. 86 Essex street, 25x38x100, to Peter Schroder, for