Real  Estate   Record





AND BUILDERS' GUIDE.





Yoii. XXI.





NEW YOEK, SATUEDAY, MAY 11, 1878.





No. 530.





Published Weekly by

TERJIS.
ONE YEAR, in advance....SIO.OO.

Coniniiuiications should be addressed to

C.  %V.  SWEET,

Nos. 345 AXD :M7 Broadway.

:a good resolution.

Not long ago tiiere appeared iu the daily papers
an item of iuforraation, valuable aud interesting
to real estate owners, to wit:

The following resolution was offered by Senator
Edick, and, being concurreut, went over under
the rule:

Renolved (if the Assemlily concur), that AVilliani F.
.Mien. George H. Andrews and A. S. Thurston be and
tliey are lierebj- appointed a comiuittee wbose duty it
sliall lie to prepare and present to the next Legisla-
ttire, within thirty daj-safter it convenes, a.bill in reiii-
tioii to tbe as-se.'fsnioni; and taxation of property in this
Slate, whicii shall contain provisions providing what
kind or species of property sliall be assessed or taxed
for Stale purposes, and what kind or species of prop¬
erty shall hereafter be taxed for county and local
purposes, and generallj- to revise aud so amend the
present asse.ssaent laws of the State of New York, to
llie end that each kbul and species of propertj- iiiaj-
be made to pay its proper proportion of the taxes now
levied for all purpo.ses, aud lo relieve aud equalize
Iiroperty now unduly and iinproperlj- compelled to
bear the burdens of taxation.

AVe have deferred aiij' allusion to this subject
in hope that prompt action might lie taken bj- the
Legislature uixiu such a praiseworthj- aud meri¬
torious resolution, and that w-o might have the
s.atisfaction of uiforming our readers of the ap¬
pointment of the contemplated conuui.ssion, and
the likelihood of some decisive and intelligent
action being taken upou the important subjects
conlided to its care. AA'e have not beeu able,
however, to discover any later information; aud
we present the matter to our readers, even at
lliis lute daj-, iu tho hope that it uisy attract the
atleiition of inllueutial parties w-ho will take paius
to urge the p.issage of this resolution at the pres¬
ent session of the Legislature. ArA''e are guorant
of the origin of this nietusure, except so far as
surface indications uiaj' suggest its authorship,
though we should be more than glad if we could
believe that the persistent effort of this paper
during the last tw-o years to draw attention to
tin's all-iinportaut matter of taxation had been
the means of inducing the proposal of this action.

The measure awakens our w-armest interest,
nud if such a commission should be t;ventually
established we will not be found lacking in sym¬
pathy with its objects. The experience during
the la.st few j-ears of the difficulty of arriving at
satisfactory results by means of commissioners
and arbitrations has w-ell nigh discouraged the
public in entertaining any high expectations of the
good to be accomplished by such methods. The
Constitutional Commission, the Code Commission
and the Taxation Commission of 1871, besides the
Electoral Commission, are all unsavory reminis¬
cences of our recent history; yet the practical
failure of these several conferences must be at¬
tributed to thepai'tiality, partisanship and incom¬
petency of the majorities controlling those bodies.
The system itself seems to be the only available
and practicable  method of canvassing mooted





topics, aud arriving at some conclusion iu regard
to them. That such conclusions should be unac¬
ceptable to the majority of the people should uot
discourage a renewed effort to find out satis¬
factorj- conclusions. The ill success of previous
efforts simplj- demonstrates tho independence of
the public muid iu this couutry, and the dillicultj-
of fastening it to leading struigs. After the
sj-stem of refen-ing matters for arbitration and
discussion to commissions shall have been tested
and perfected bj- experience, we have faith iu its
continued usefulness and permanent acccptabilitj-
to the people. AA'o siucerelj" desire to see the new-
Tax Commission become an established fact, and
shall take great stitisfactiou in assisting its delib¬
erations bj'- auy suggestions and information
which we maj^ be able to offer upon this all ab¬
sorbing sub ject.





MARKET REVIEW.





REAL ESTATE MARKET.

AA'e have again to record the fact that but little
business was transacted at the Exchange Salesroom,
exceptsuchas related to foreclosure proceedings. The
premises known as Nos. 14'2 to 150 Thompson street,
122 feet 3 inches south of Houston street (20.5x175 to
Soutii Fifth avenue), were sold to George E. L. Hyatt
for S-lU.liOO, and the tbree-storj-brick building with lot
(-J1.0x102.2), No. 109 Seventh street was sold to Thomas
S. Clark, for SJ,700. The plot of land bounded by
Third avenue. Fourth avenue, Ninety-eighth and
Ninety-ninth streets, after repeated adjournuieuts, has
been finally sold to J. B. Dutcher, for ?!li>,000, to
satisfj- mortgage liens amounting to about $170,000.
It is reported that the e.T-sterly half of the block will
be purchased bj- the New York Elevated Railway
Companj-.

Some important transfers are printed in the
colunins of the conveyances. ThefExcelsior Jledical
College has conveyed to Benjamin Brandreth the
premLses known as the Brandreth House, forSlOO.COO;
Jlr. N. D. Higgins takes title to the property No. 5-38
Broadwaj- in consideration of §00,000, and thn Louow
andplot on tbe east side of Broadwaj-, 100.5 north of
B'ifty-eighth street, has been conveyed to Sirs. R. H.
Arkenburgh, for $72,500. Jlr. AV. H. L. Sniith has
become the owner of property on the west side of
JIadison avenne, extending from Ninetj--eighth
to Ninetj--ninth street, 201.10x300, and other property
on Fourth avenue, paying therefor §122,000.

It is reported that the Willet Stevens estate has sold
two lots on the north side of Fifty-first street, com¬
mencing 150 feet west of Fifth avenue, for S:J0,000, to
George Mosh, of Pavenstedt & Co., who intends to
erect on them a mansion of extra size. It is also re¬
ported that Jlr. R. T. Au'^hmuty has bought the plot
of land on the west side of JIadison avenue, between
Sixty-second and Sixty-third streets (200.10x70) for
§77,000.

The important legislation at Albany during the
week affecting city tax-payers, is the reduction of
about S7IX),000 on the tax levj' of this city. The rate
of the State tax, which last year was 31-6 mills, has
been reduced to 2 6-10 ni ills. The Com mittee on Cities
reported favorablj- the bil for repaving Fif th avenue
from Fifty-ninth to Ninetieth street and Seventh
avenue from Eleventh to Fifty-ninth street. In
another column tax-payers will find a list of all assess¬
ments received from the Commissioner of Public
AVorks as well as those sent to the Board of Revision
and Correction of Assessments during this year up to
March 30,1878. The nature and location of the im¬
provements and the amount to be expended are also
given.   AVithin a day or two fresh assessment lists





have been received in tho Bureau for Collection of
Asscssinent.s, which are iirinted elsewhere. AVe again
direct attention to the Important partition sale to take
place on JIaj- 17tli, when Jlr. Harnett will dispose of
30O lofs on One Hundred aud Flfy first, OneHun-
drctl and Fiftj--second, One Hundred and Fifty-
third, One Hundred and Fiftj--fourth. One Hundred
and Fifty-fifth and One Hundred and Seventy-flftb
streets. Eighth, Ninth, Tenth, Elovpiith and New av¬
enues, w-ater fronts ou Hudson and Harlem Rivers,
villa plots at High Bridge Park, including the elegant
residence of the late Richard F. Carman. A full de¬
scription of the property appears on our second page
Another important sale in partition isalso announced
for the 15th day of Maj-. Jlr. .Tacob Cole under the di-
rectiun of H. C. JIurphj-, Jr. referee, at the Commercial
Exchange, No. 389 Fulton stfcet, Brooklyn, will then
sell oil lots in the Twentj--third AA'ard of the City of
Brooklj-n, situated on Nostrand, Jlarcy, Tompkins
and Putnam avenues, Halsey, Hancock and Jefferson
streets. It will be recollected that this tract belong¬
ing to the estate of Leffert Lefferts, deceased, which is
now the choicest vacant propertj- in Brooklj-n, was
sold in December, 187-2, for 5894,000. A legislative act,
however, which it wassupposed relieved the title from
all objection was declared unconstitutional by the
Court of Appeals. Since that decision, by means ofa
new rcinedj- in the nature of a fricndlj- suit in parti¬
tion, the title has been tested in legal proceedings and
adjudged valid.

T\ventj--one plans, embracing thirtj--two buildings,
the estimated cost of which is S45(i,000. have been
filed with the Superintendent of the Department of
Buildings during the week ending Maj- Oth, inst. The
noteworthj- buildings to be erected are two fourstory
frame store houses on Fiftj-eighth street, between
Fifth and Sixth avenues; two five-story stores at No.
377 Broonie street; three four-story brown stone
dwellings on the northwest corner of Jladisou avenue
and Eighty-first street, and three four-story brown
stone dwelliugs at Nos. 2"}, '2(3 and 28 East Forty-ninth
street.

The following are the sales at the Exchange Sale

room for the week ending Jlay 9:

Broadwaj-, w s, 81.9 n I'lSth st, twostorj-1
franie dwelling, 28.1x90.2.............i

Broadway, w  s, 56.6  n tiStli  st, two-storj-1

frame dwelling. 28.!x.VJx-,'5.x7l.lO.........j

lo Union Dime  Savings  Inst, tplaintiff).
(Amount duo about §10,273.)___.......    §19,812

Beekman pl (No, 39; s ecor Slstst, four-storj-
stoue front dwelling. -20.5x100, to Jlargaret
E. DeForest (plaintiff). (Amount due about
§16,000.)..................................      5.000

Broome st, s e cor Elm st, 26.9xn6.x-26.6xll7,
No. Ill Broonie st, three-storj- brick store
and dwelling. No. 175 Elm st, two-story
franie factory and dwelling, and one-story
frame dwelling, to Janies Suydam (plain¬
tiff),   (Ainount due about §17,175,)........    19,750

Cherry st (No, 17), s s, two-story frame house,
2-2.9.X65.11, to AVilliani Finn (plaintiff).
(.Amount due about §4,800.)................     3,500

Lewis st (No. Ill), w s, 180 n Stanton st, five-
story brick store and tenement, aud three -
storj- brick dwelling in rear, 20x100, to
Jacob Jleyer.   (Ainount due about $9,000.)     9,750

Jlary st, s s, 250.3 e Jlorris av, frame house, 25x
100, to Sylvester Hunt (plaintiff). (Amount
due about §500.) ..........................        700

Thompson st (Nos. M3 to 150). e s, 122.33 Hous¬
ton st, five twostory- brick houses, each
'i0.5xl75 to South 5th av, to G. E. L. Hyatt.
(Public auction.)...........................    49,600

7th st (No. 199), n s. 37,3 e Av B, three-story
brick builuing, 21.0x88.8, to Thomas S.
Clark......................................     4,700

19th st (No. 427), n s, 328 e 1st av, flve-story
brick store and tenement, 24x92 to F. C.
Goldsmith..................................      8,550

49th st (No, 340), s s, 175 w 1st av, flve-story
stone front tenement, 25.'cI00.5, to F. S.
Dresler, for a partj- in interest. (Amount
due about §5,-200.).........................    10.150

58th st (No. 5:J-2), s s, 400 w 10th av. five-story
brick store and tenement, 25x100.5, to
Joseph N. Ireland et al (trustees and plain-
tiUs).   (ilmount due about §12,000.)......     9,000

67th St. n s. 300 e ;M av, vacant, 2ix77.3x25.2x
79,6. to Patrick Tallon (plaintifl). (Amount
due about S-2,800.).......................-..     1400