Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXIY.





NEW YOEK, SATUKDAY, dVLY 5, 1879.





No. 590.





Published Weekly by

C^e %m[ Estate %ttaxii %BBotmi:xan.

TERMS.
ONE YEAll, in advance....SIO.OO.

Cominuuications should be addressed to

C.   W.  SWEET.

Nos. 345 AND 347 Broadwav





INDEX TO VOLUME XXIII.
The index to TnE ReC(IKI) for the six months
ending with the issue of June 28, will be ready,
and will be sent to each of our subscribers, with
the next number of Tiiic Record.





The shaking up which insurance companies
have received during the last few years has not
been unproductive of good results, evidence of
which is shown by the steps recently made by
the managers of the Equitable Life. A policy is
now incontestable after three v-ears from its dale,
and this concession not only applies to all policies
hereafter to be issued, but to those a!read_v issued
and now in force.

LEGAL DECISIONS.

E.Xf AVATIONS—A D.IOI.N IXG  OW NEUS.

The Court of Appeals has decided that wdiere
ail owner of property desires to deepeu the cellar
of his house and rebuild the cellar walls, and in
so doing it becomes necessarj- to excavate lielow
the existing foundation walls of an adjoining
house, and more than ten feet below the street
curb, he must assume the risks of injury resulting
from such excavation to the wall of an adjoining
owner.   The burden is on the builder to protect it.

The fact that the owner of the property on
which the excavation takes place enters into a
contract with a third person (a contractor) to do
the work, does not exempt him as owner from
the performance of the duty imposed upon him
by law. The owner of adjacent property must,
however, aflord the necessary license to the per¬
son causing the excavation to be made, to enter
on his land in order to support the same.





In the course of the opinion, the Court say—
" The owner of the land has no relations arising
from the proceedings of the character mentioned
with any other per.son than the corporation of
the city of New York. It is that liody that un¬
dertook to sell the land, and the le.'^see must seek
such remedy as he may have for injury sustained
by him against it growing out of their unauthor¬
ized assumption of authority. It would be unjust
to impose upon the owners of the land the obliga¬
tion of resorting to a more formidable and ex¬
pensive remedy, involving the pui-suit of the un¬
lawful lessee to remove an unju.st and unlawful
cloud upon their title. The buyer of property
unon a sale for taxes and as.se,ssments iniist look
to it that the sale is authorize(l by the law of the
land, otherwise he buys it at his peril."





HEAL   ESTATE IN CO-PARTNERSHIP—TITLE IN  D.NE
—DEFICIENCY JUDGMENT.

The same Court (of Appeals) has decided the fol¬
lowing. Two persons entered into an oral agree¬
ment to purchase real estate and to take the title
in the name of one who was to and did execute a
mortgage for a part of the purchase money.
Upon foreclosure of this mortgage a deficiency
occured. Held, that only the person named
in the deed as grantee could bo held liable
fcr the deficiency, although a community of in¬
terest, and in some sense a partnership, existed
between the grantee and his associate. That the
name of the one grantee cannot stand or be re¬
garded as the name of the firm, or that it repre¬
sented anyone but himself upon the bond.





TAX SALE—HOW VACATED.

The Supreme Court, General Term, this week
rendered a decision holding that the owner of
land sold by the city for non-payment of taxes
may move by petition, instead of going to the
expense and trouble of a suit, to have the sale set
aside where the proceedings upon -which the sale
was based are irregular and void. It is not ne¬
cessary to give notice of the application to vacate
the sale to the purchaser at the tax sale; a notice
to the city being suflScient.





HllillT OK    f'lTV   TO TllANSKEP.    AWARD    TO    PAV
AS.SESSMEXTS,

The Superior Court decides that the I'ity has a
right to transfer an award made to an owner of
property^ for damage done by change of the
grade of a street, to the payment of as.sessments
which thereafter become due on the jiroperty.
That till! lien upon the property in respect to
which the assessment was made is in the nature
of .a imntgage. Unless the lien wa.s di.scharged
it could be enforced by the city in default of pay¬
ment and the premises .«!old, and for any" de¬
ficiency after applying the proceeds of the sile
the city could have e-\eculion against the owner.





MARKKT RKVIKW





11E,\L E.ST ATE MARKET.

No traiisaelions of any niagnilitde occurred at the
E.Kchange Salesr.>oin during the week, the olTerings
being confined exclusively to foreclosure sales. The
only noteworthy iliiiig Vieing that-from the property
sold, several parcels were to parties not in interest-
Several important private sales have been constim-
mated during the week. Messrs. E. II. Ludlow .t Co.
have siild eighty lots, belonging to the estate of ihe
late Wm. T. Garner, situated on the east side of Sixth
avenue, between One Hundred and Thirty-fifth and
One Hundred and Thirty-seventh streets, to Henrietta
Constable, for S^'OO.COO, Si.'cteen of tli-se lots are ave¬
nue lots, and the remaining ones, street lots, George
Ehret has purchased from the Gernumia Life Insur¬
ance Company thirty lots in the block bounded by
Eleventh and Riverside avenues. Ninety and Ninety-
first streets, consideration, 580,000. This property-
was sold under foreclosure in l.S7rt by the Germania
Life Insurance Company to satisfy a mortgage, with
interest and cost, amounting to $.S!).OCO- The block,
with the exception of four lots on Ninetieth street,
north side, 200 feet west of Eleventh avenue, which
were bought by J, B. Hyde for SS,200, was bought
in by the plaintiffs for S'">',150. a"d a deficiency judg¬
ment was filed for Si:i,.500. From this it will be seen
that the transaction has been anything hut a profit¬
able one for the Insurance Company. Four lots (100
xlOO.5), on the southeast corner ot Madison avenue
and Sixty-fourth street, have been sold for SCO,t)lX).

The New York Loan & Improvement Company has
purchased the charter for the construction of the
tunnel under the Hudson River. It is understood that
the plans contemplate the building of a tunnel large
enough to accommodate the traftic of every line of
railroad now terminating in Jersey City. It will be well
for real estate operators to take into consideration
the effect which the completion of this stupendous
work may have on real estate values, both in this and
our Jersey suburbs.

Plans, embracing fifty-eight buildings, to be erected
at an estimated cost of glG-.'.OOO, have been filed dur¬
ing the week. Fifty of said buildings will be erected
east ot Third avenue, between Sixty-sixth and Eighty-
sixth streets.





Altention is directed to the advertisement on the
second pajje of the partii ion sale of valuable property
in the .Second, Sevenlb, Tenth, Fourteenth and Nine¬
teenth Wards. This sale was advertised last week to
take place July 1st, but, owing to the illness of the
auctioneer, the sale was adjourned. The title to this
propertv is undoubted. To purehaser.s of fine resi¬
dence property, the two hoii.ses on Seventy-third
street, between Fifth and Miulison avenues. otTers
uuusual iiulucenieiUs, lis it is probable that they can
be bought at this sale for a much less price than it
wouki be possible lo buy the vacant lots and erect
residences of eijual value. The valuable water front
on Avenue A and [Sixty-second street should bring a
good price. rnv(!stors in bii.siiie.-is properiv slionld by
all means look into this property.

The following are the sales at the ExchaiiKe Sales¬
room for the week ending July 'J:
*I)idU;a/ei' t/ial (he propt'rtij discrlhfd ha.i tifcii hid

ill for ptaiitfij":' account:

Kingsbridge road, s e s, at intersection of cen-
trt! line of 21-Ith st, runs east to eentre of
lUth av. X south ]C bloek, x we.st lo Kings-
bridije road, x nortli to'beginning, to Her-
nanl Fellman,   (Amount due, nbt S'i.t'W))       V.iiOO

*Jlanbatiaii st. n w eor Bloomingdale road, UKi
x7.'>.l-xl0."i.T.\-T,j. I, to Win. Devlin. (Amount
due. abt Sil.inO)...........................    11.000

*x'Oth st, s s. in e Ttii av, ISx!t:l.li>. to Kliza

Manson.   (Amount due, abt $-.'.iO >)........     l-J,(i'.M

*.Wth st, s s, :i!^0,-J e Hh av. IT.lx'iS It. to Bern-
hard EisiK.   (.Amount due. abt .5<i.."iO).....      SjW

*3'Jtli st, s s. •■i-.J5 w IOth av, ijxDS.U, to CJernian-

ia Life Ins. Co.............................     7,(KWJ

-lOili st (No. .)2i'i). s s, 3vJ5 w yth av, four-story
brick tenem't, and three-story brick tene¬
ment in rear, 2."ix!IS.'.i, to Peter Hajran.
(Amount (hie, abt S".i,ur.o)___.............      8,.')0ii

40th st (No. -I'-iS), s s, adj above, similar build¬
ings, t.'"-'x!»S,8, to John Early. (Amount due.
abt SU.titiO)................................      9,00(1

*^iitli St.. s s, SI.6 e ilth av, IS.flxfJ;! (letiseholn).
to Elizabeth F. Floyd (adnirx.i (Amount
due. abt Sti. 100)...........................      5,00U

•17th st (No. 221). ss, 141.:{ w Broadway, three-
story brick dwell'K, I'i.rjxH.').'!, to Timothy
Donovan.   (Adnir.'s sale)..................     ,'i,l.'jU

53d st (No. 711). s s. y.5 (• e liih av, four-story
brick (Stone front) dwell'g, 20xli>!i..".. to
Isaac S, Solomon,   (Ami due, abt S.">,5()()).    2^1,700

*5-";d st, n s, I.iS.'.l e 9th av, '-"J.Ox.'il.lO, to \Vm.
H. Neilson (e.xr., &c.) (Amount due, abt
37,850)..................................      7,000

S;)d st, s s, 200 w IOth av, ihree storj- frame
d welPg, 2.')x7ri,7, to Mary A. McCarty, (Pii b-
lie auction sale).......................      5,0<tt)

8-ld .St. s s, adj. above, vacant, 2-')x71.7, to Wal¬
ter Grady..................................     2,100

li:5tli st (No- lti2). s .s, 200 w '.id av, four-story
brick dwell'g, 20x100.11. to H. P. DeGraaf,
(Foreclosure of Mechanic's lien)   .......      5,'.>50

121th st, s s. 100 w IOth av, vacant, 100x105.10. i
I2:i(l St. 11 s, 100 w lOtii av, vacant, 100x105.10. ('

to Jane Salesbury,   (Aint due. abt $11,100)     O.iiOO

* Wist st, n s, 75 w fith av, 25x9!> II...........I

(ith av, n w cor 131st st, 21 11x75............j"

to Napoleon B. Kukuck.   (Amount due.

abt Sl.tVii) ...............................       ti.OOO

*Av A. n e cor 12:kl st, :5ox27S.(>, together with
land under water to bulkhead line of Har¬
lem River, to J- Benj. Ilichardson.   (Anit

due. abt 52,lOO)..........................       o.MO

*Fulton av, s e cor lOSth st. 101xS.5.Sxim>.t>-x90,
to Germania Life Ins, Co- (Amount due,
abtS3,475)................ ..............,..      2,50J

(ith av (No. '15). w s, 17 n 4th ,st, four-story
brick store and dwell'K, 22x(iti.2, irreg., to
Moses Blau.   (Amount due. abt S5,50<»)___    23.550





Total.





Si6«.2Sl





BROOKLYN. N, Y.

In the citj- of Brooklyn, Mr. T. A, Kerrigan has
made the following sales for the week ending
July 2 :

♦Bergen st, n s, 150 w Grand av, 50x110, to Wil¬
liam B. Owen.   (Mort. Sl.-lOO)..........   52,500

Columbia St. w s, 50 s Summit st, 50x100,. |

Summit St. s s, 100 w Columbia st, 25x100.. J

to Alice O'Neill...........  ...........       8,650

Duffleld st, e s, 209 s Wllloughby st. 20xlP0..3,

to J. F. Henne.ssy........................     3,200

♦Pineapple st (No. (53). n  s. 223 e Hicks st, 22.^

101.3, to The Amity Ins. Co...............      S,700