Real Estate Record
AND BUILDERS' GUIDE.
YoL. XXY.
NEW YOEK, SATUEDAY, MAY 15, 1880.
No. 635
Published Weekly by
TERMS.
ONE YEAR, in advance.. ..SIO.OO.
Communications should be addressed to
C. W. SWEET,
No. 137 Broadway
IMPROVEMENTS ON RIVERSIDE DRIVE.
We were unwilling to believe the rumors afloat
that some of the Park Commissioners were disposed
to close up Riverside Drive again. This would
have been so antagonistic to the interests of the
property owners and taxpffyera, and regardless of
the public's rights in the premises, that we could
hardly credit such an action on the part even of
men who consider politics ot more importance
than the public good. We have reason to believe
that these Commissioners, after having settled
the, to them interesting, question as to who
shall be President of the Department and pocket
the S6,500 per annnm, will hold more frequent
meetings and settle down to the important labors
entrusted to their care. Whatever be the result of
the litigation in the Supreme Court, the Park Com¬
missioners henceforth regard the opening of River¬
side Drive as an accomplished fact, and no paper
resolution of their adoption can or ought to change
it, now that the public have actual possession of
it. Like sensible men they already acknowledge
that they have been beaten by the irresistible force
of public opinion, and the wisest thing they can do
now is to act up to ^the requirements of the
occasion. First of all, the drive should be watered
at once, and some fine trees should be planted so
that in the course of time there will be ample
shade. Last Sunday's experience was anything
but pleasant to those who came to enjoy the
natural beauties of the drive, the clouds of dust
and the piercing rays of the torrid sun detracting
considerably from [the comfort of those who visited
the new drive. Mounted police should also be
stationed along the various sections of the avenue
so as to preserve order and prevent too fast driv¬
ing. In fact, instead of acting counter to the
wishes of the property owners, it is the bounden
duty of the Commissioners to at once improve
Riverside Drive. Seats, for instance, should be
provided along the slopes and knolls, and the grass-
plots should be kept in excellent order. Seventy,
second street, also, from theiCentral Park to River¬
side, should be made into a nice pleasant drive to
as to render the connection between the two parks
as cheerful and comfortable as other park drives.
In all these matters, however, it is impc-tant that
the property owners themselves should continually
urge these improvements upon those in authori tv
Vigilance on the one side will beget energy on the
other. It is to their own interest to keep their eyes
continually upon the doings of the Park Commis¬
sioners and keep them to their duties. Thus far
one or two individuals have taken upon themselves
the burthen of all this work. The time has now
come at last for vigilant activity on the part of all
directly interested, and, by introducing these
various necessary improvements property along
this most magnificent drive will, probably, in the
course of time, command values in full accord
with the ideas of the most sanguine West Side
owner.
MARKET REVIE^^.
REAL ESTATE MARKET.
^P" For list of lots and houses for sale
see pages vi and Til of adTertisements.
The auction sale of the Riverside Park front, be¬
tween One Hundred and First and One Hundred and
Second streets, by Mr. Harnett, on Tuesday last, has
been commented upon rather severely by the habitues
of the real estate market, owing to the extraordinary
terms of sale which the parties in interest instructed
the auctioneer to announce. These terms were that
the property when sold per lot, would again be put
up as a whole, and anyone bidding a round sum over
the aggregate flgures of the separate lots would be
considered the purchaser. Of course, these condi¬
tions turned the sale into an actual farce and dis¬
gusted quite a number of bona fide investors, who
made a short roundabout and quit the salesroom-
Nobody blamed the auctioneer, who himself depre¬
cated this novel mode of imposing queer terms of
sale ; but he had no option, and had to follow orders,
especially as it was a Supreme Court sale. If those
in interest had followed the precedent set at the sale
of the northwest corner of Sixth avenue and Four¬
teenth street, about a year ago, they would have
fared better, and all parties would have been satis¬
fled. At that time the entire property was put up
as a whole, flrst, with the condition that if it
should not bring $190,000 it would be offered in sepa¬
rate lots. It did not bring the sum flrst mentioned at
the flrst bidding, and when again put up the resale
worked admirably, and gave satisfaction to all con¬
cerned, the aggregate flgure at the resale being
8180,000. The flgures obtained at the Tuesday sale of
the Riverside lots cannot be considered market
piices, there being a mortgage of $97,000 on the lots
offered, and the parties in interest were determined
to secure them, regardless of the views of bidders.
The following were the original bids, but owing to the
peculiar terms these bids were "wiped out:" North¬
east corner Riverside Drive and One Hundred and
First street, $12,300 ; lot adjoining, $7,100 ; two lots
adjoining, $6,850 each ; one lot adjoining, $7,450 ; one
lot adjoining, $6,850 ; one lot, adjoining, $7,000 ;
southeast corner Riverside Drive and One Hundred
and Second street, $9,300 ; one lot on One Hundred
and First street, $4,900.
On Wednesday, Mr. J. Cole sold at the Commercial
Exchange, in Brooklyn, sixty-one vacant lots on Wil¬
loughby, De Kalb, Lewis and Stuyvesant avenues,
also on Pulaski, Munroe and Madison streets.
Though the prices were not all that the seUers ex¬
pected, everything offered was actuaUy sold to vari¬
ous bidders, as will be seen in the list at foot.
During the coming week there will be several auc¬
tion sales of importance. On Monday, Messrs. A. H.
MuUer & Son will offer forty-six lots on Eighth and
New avenues. One Hundred and Tenth, One Hundred
and Twelfth, One Hundred and Fourteenth, One Hun¬
dred and Twenty-eighth, One Hundred and Twenty-
ninth, One Hundred and Forty-fourth and Tv, o Hun¬
dred and Eleventh streets, all elegantly situated, the
property of Mr. Benjamin Lehmaier, who now resides
inEuiope. It is positively stated that there will be
no by bidding and that the sale will be a peremptory
one. On Tuesday, the 18tb, Mr. Muller will sell valu¬
able improved property on Water, Mulberry, Ganse¬
voort, West and Forty-eighth streets, being the
remainder of the Hardeman estate.
On the same day, Mr. Harnett will sell important
leasehold property on the southeast corner of Grand
and De Kalb avenues, Brooklyn, also other tax leases
in the same city.
GOSSIP OF THE WEEK.
Since the opening of Riverside Drive, there has been
renewed inquiry for lots in that locality, and, at the
hour of going to press, negotiations are pending for
the sale of an entire front. It should be remembered
that as yet prices for lots along what is sure to be a
great drive of the future are, comparatively speak¬
ing, quite reasonable, and, with the constant influx of
capital in our midst, it is dilEcult to say how soon
present figures will have to be enhanced. Other
West Side projerty just now is being somewhat
neglected and holders are more disposed to sell than
they were a month ago. The market, however, is
strong for real estate between Fourth and Fifth ave¬
nues, all the way up to One Hundred and Tenth
street, and holders there are making no concessions.
The hearing of the Riverside injunction matter has
been postponed until the Slst of May. Meanwhile the
Corporation Counsel has sent a written order of
authority to the Park Department to have the drive
properly watered, rolled and patrolled by the police,
and at their meeting, on Wednesday, they flnally
passed a resolution to comply and appropriated the
funds therefor.
There are but few sales being made at private con¬
tract. Nevertheless, we hear of the purchase of sev¬
eral lots on One Hundred and Nineteenth street,
between Fifth and Sixth avenues, but the terms of
sale have not transpired.
Messrs. Joel B. and John A. Post, the owners of the
granite building at Exchange place, Hanover and
Beaver streets, have purchased the adjoining prem¬
ises, Nos. 18 Exchange place and 67 Beaver street,
and will construct there a flrst-class ofBce buUding at
acostof $250,C0C.
On the east side of Fifth avenue, between Forty-
seven and Forty-eighth streets, George Opdyke has
nearly completed a brown stone dwelling, thirty feet
by sixty-seven feet, and four stories high, to cost
about $55,000.
The new building of the Union League Club at the
northeast corner of Thirty-ninth street and Fifth ave¬
nue is completed to the flfth story and one more story
is to be added with a mansard roof. The width will
be eighty-four feet, and the depth one hundred and
flfty-two feet.
The contract for bricks for the Hudson River tunnel
has been awarded to one ot the flrms along the river
(J. I. & R. Washburn, of Glasco). They will be caUed
on to supply 24,000,000, at the rate of 8,000,000 per
year.
P. T. Barnum has instructed his agent, in Bridge¬
port, to build one hundred houses on property he
owns, and already some fifteen or twenty of them are
under way.
The following are the sales at the Exchange Sales¬
room for the week ending May 14:
* Indicates that ihe property described has been
bid in for plaintiff"s account:
Bond st (No. 20), n s, 382.4 e Broadway, 25.8x
100. four-story marble front dweU'g. Ed¬
ward P. Dickey. (Am-t due, abt $16,350).. $19,500
East Broadway, No. 46, n s, 25x}^ block, four-
story bricb: store and tenem't; leasehold.
D.P.Hays. (Partition Sale).............. 5,025
Delancey st, s w cor Suffolk st, 25x62. five-
story brick store and tenem't. John B.
Schmidt. (Amount due, abt $13,200) . .. 15,000
Grand st, n w cor Cannon st, 25x75. three-1
story brick and frame store and dweU'g (
and two-story brick stable............. y
Cannon st, w s, 75 n Grand st, 25x100, two two- I
Story brick stores and dweU'gs..........J
John Steingester. (^m't due, abt $20,500) 19,750
Grand st, n s, 50 e Mercer st, 25x107. (1-6
part). Emily M. Peters. (Amount due,
about $2,075)................................ 2.101