Supplement to THE RECORD AND GUIDE, March 1,1890.





T s: E





Graves Estate Illustrated.





A FIUE ESTATE COMPRISING fi SEVEM-STOM BUSIUESS BUILDIIG OH FIFTH AVEKUE; A COSTLY AKD PALATIAL tESIDENCE IH A
FASHIOHABLE QDARTER OFJROOKLYK; A LARGE FACTORY AHD OTHER IMPROVED AND UNIMPROVED PROPERTIES.





A  Description  of the   Estate   Tliat   Will   Interest  Intending   Bidders.





The Kew Tork Property.

One of the most important sales of real estate which has been annouuced
for sometime wiU take place next week. It comprisesa number of parcels of
realty situate iu the cities of New York and Brooklyn, some of which^re
illustrated in the supplement presented herewith. The property belongs to
the estate of the late Robert Graves, and is to be soid uuder the hammer,
by order of the Supreme Court iu partition. The sale take? place on two
days, March Sth aud 6th.    Ou the





its increased value, or at least of n ratained value.' aud he had fche
great fortune to boli every parcel of property free and clear of mort¬
gage, a rare case nowadays with such a large esfcate. Unfortunately he
did not live to see tb3 full fruits of hU work, nor to' occupy fche superb
residence wbicb he builfc iu Brooklyn, and his untimely decease has thrown
upon the market a number of properties free and clear, which, wheu sold
will aggregate, it is estimated, in tha neighborhood of ?iI,ODO,O00.   To the

scores of investors aud others wbo







latter day the second portion of
the estate will be sold, comprising
the New York part of tbe prop¬
erty, the sale taking place at tbe
Real Estate Exchange, Liberty
street. New York; on the former
day tbe flrst portion of tbe estate
will be sold, comprising the Brook¬
lyn part of tbe property, tbe sale
taking place at the Brooklyn Real
Estate Exchange, No, 393 Pultou
street, Brooklyn. The property
will be auctioned off iu both cities
by Richard V. Hai-nett,

The property to be sold at once
commands tbe attention of inves¬
tors, dealers  aud  others, on ac¬
count of tbe fact that it is aU well
located and easily accessible to the
centre of busiuess activity iu both
cities.   It also commends itself to
their special attention   from  the
fact tb^t it is to be offered in par¬
tition.    Ileal estate investors gen-
«i'ally  understand the  difference
between an ordinary auction sale
of realty and oue where the estafce
is offered by order of tbe executors,
or iu similai' proceedings.    They
are fully aware that in the former
case circumstances are often likely
to occur wherein bidders are uot
always able to secure property at
a flgure wbicb will   warrant an
early increased value, whereas iu
tbe latter case they know that the
property will be sold without re¬
serve.    Under tbese circumstances
manj bidders appear iu front of
tbe auctioneer's stand aud eagerly -
compete for the possession of prop¬
erty which tbey are all desii'ous of
pm'cbasing, and tbe result is tbat
some oue gets   "a  good  thiug,"
while the estate which disposes of
the property is, ou tbe whole, satis¬
fied with tbe result.                                     ^.                                                                      .r      t,    >
Such, indeed,  is the case wifch                                  ^^'ob. 4811 and iSo Fifth Avenue, New York.
the   Graves   estate.     The late   Mr.   Graves   bad   traveled   abroad   for
years.     He   was   a   man. of great judgment   and   knowledge,   besides
having an artistic taste rarely, surpassed among  New  Yorkers,     Tbi--
is seen ia his Brooklyn palace, which is described further on in  this
article. _He selected property ;in   places  where he felt a cartaiiity  of





will be interested iu tbis important
sale a full description of thepriuci¬
pai parcels is given berawith. Let
(US take aglance at what these prop-
eities are like.

■ONE OP THE HIGHEST BUILDINGS
3                 ON FIFTH AVENUE.

The most valuable of the New
York parcels is the seven-story and
,V-r.semeut building at Nos. 483 and
48-5 .^th avenue, between 41st and
42d  streets,      Ifc   is   an   imposing
j>tnictui>e, and   sfikes tbe   atten¬
tion   of every   passer-by   on this
'great avenue.     It stands between
two well-kuowu buddings, tbe oue
the   quaintly-architectural    resi-
^dence of Mrs. Julia A. Chase, the
other tbe Pottier & Ptymus build¬
iug.      On tbe same   block is the
.  Columbia Bank building and otber
.'■'business structures.     ludeed, this
block is at present the most import¬
ant aud probably tbe most valuable
■ J f the business blocks on Stb ave¬
uue, and is destined to be much
more valuable on account of its
Jcentral location and its proximity
- to tbe Grand Central Depot, tbe
, various elevated ro.ids, cross-town
cars,   and   other   street-car lines.
[The building has a frontage of ^3,6
feet on tVe avenue, and an extreme
jdepth of 100 feet,    Tbe flrst story
-is of iron constructiou, with large
plate glass show windows.     The
froutabove is of brownstone,   Tbe
sidewalk is of unusual width, beiug
about 27 feet in distance from tbe
entrauce to the line of the curb,
'ihe entire   building is leased by
the successors of Mr. Graves, wbo
pay an annual rental of §13,000,
iLesides paying taxes, Croton, etc,
Tbis rental is equivalent to 5 per
cent, net per annum on a valuation
of S240,0I)0.    The property is leased
till May 1, 1891, and tbe present
occupants are desirous of renewing: f„eir lease wben it expires.

Tbe first floor is used as a salesroom.    This story is in English quartered

oak aud is finely carved throughout.   It comprises one immense room, the

' main feature of   i^bich  isa picturesque alcove,"with a dome roof, and a

' colocnade of ajches on either ddo.   The floor, although so deep, has excel-