Please note: this text may be incomplete. For more information about this OCR, view About OCR text.
Real Estate Record
AND BUILDERS' GUIDE.
NEW YOEK, SATURDAY, MAY 29, 1880.
Published Weekly by
m Seal €BhU Serortr %%Batmimx,
OJVE YEAR, in advance___SIO.OO.
Communications should be addressed to
C. W. SWEET.
No. 137 Broadway
LOUD DEMANDS FOR PUBLIC IMPROVE
There appears to be an increasing disposition
now on the part of owners of vacant lots in the
upper sections of New York to impro've theii- prop-
ert}', the recent decline in material and the con¬
stant influx of a new population favoring this do-
sire. But what is the use of constructing houses ou
streets that are not curbed, guttered and sewered?
On Tuesday last, au avalanche of petitions were
poured by property owners into the meeting of the
Board of Aldermen, all of these petitions containing
demamis for improvement. In all instances they
were referred to committees, no doubfc for the pur¬
pose of " seeing " somebody about it, thus creating
delays that are, indeed, hurtful fco the interesfcs ol'
owners. The lafcter are willing and anxious to bear
their due share of the cosfc of these improvements
and now is the time to make them. To bury these
petitions in the pigeon holes of commifctees simply
results in the continuance of a state of affairs which
has been too lonL' a drawback, especially to the We.'-t
Side. The city authorities are bound to encourage
enterprising owners in all matters of improvement^
and not to stand by fchem in a season like this only
delays for another year building operations tha't
should be attended to this year.
From the Twenty-third Ward, also, we have ni-
thentic information thafc there would be four fcimes
the amount of buildiug if the Park Department
having charge of the annexed District, would only
attend to its legitimate duties instead of keepinc^
a constant wrangling about small matters. Sewers
are wanted in many places in the districfc, in fact
a regular system of drainage should be at once
agreed upon by the Commission. Property owners
in the Twenty-third Ward have for months past
petitioned the authorities to begin certain im¬
provements that must precede building opera-
tions, they have even offered to pay the entire cost
of these public improvements out of their own
pockets, and yet a deaf ear is fcurned to these ap¬
peals. It is of no use saying this man or that man
will build while city authorities are in a state of
lethargy most provoking, not only to owners, but
to fche great public that stands ready to fill every
i)art of this island and the suburbs with habita¬
tions of larger or smaller dimensions.
BRING ON THE WATER CARTS.
Would it not be well for the Park Commis¬
sioners to drive through the Central Park and
have their good clothes and clean linen
spoiled just once by the clouds of dust that
abound there ? Or have they a private under¬
standing with the tiilors of New York that Cen¬
tral Park shall only be sprinkled just enough to
make people believe that those engaged in that
work are doing their duty. The entire sprinkling
business is simply a fraud and a sham. The very
worst is near Stetson's, where, on one of the warm
days of the past week, there was no water¬
ing worth mentioning, and where the "Pleasure
Drive," owing to the clouds of dust, made man
and beast decidedly more uncomfortable than if
they had remained in the hot city streets.
REAL ESTATE MARKET.
^ For list of Iot.s and lionses for sale
see pages iv and v of advertisements.
The atmosphere in the Exchange Sales-room dur¬
ing the torrid days of last week was such that no one
remained there longer than was actually necessary.
Some of the best known frequenters were absent
durmg the entire week. The public sales, though
more numerous than during the previous ^'eek, were
however, most of them unimportant, with slight ex¬
ceptions. Two lots on the north side of One Hundred
and Tenth street, between Tenth avenue and the
Grand Boulevard- a street that has probably a great
future before it-were sold for $4,800 each, by Mr
Harnett. Considerable East Side property was dis
posed of by Mr. Bleecker, among others tvvo small
houses on Ludlow street, near Rivington, for S35.750,
and some Mulberry street houses, by Mr. McGuire!
for about $9,000 each. The southwest corner of Tentli
avenue and One Hundred and Eighth street (lOO.llx
100), was sold on Thursdav by Messrs. E. H. Ludlow
& Co., for $13,950. The Hoffman property, on Jerome
avenue, at Yonkers. was sold by Mr. Bleecker for
$3,100, and Richmond County, Staten Island, property
was sold for $-ir.£0 per acre. Con.'^iderable satisfac¬
tion was expressed at the Exchange Sales room dur¬
ing the week when it became known that all of those
who purchased lots at the great Mutual Life sale had
taken title, without a single default.
The next sale of importance will be the Supreme
Court sale of Riverside avenue, Eighty-eighth and
Eighty-ninth street lots, over flfty in all, which Mr
Harnett will sell on Tuesday, June 8. The best re¬
sults are anticipated from this sale, as the property is
to ba disposed of without reserve.
GOSSIP OF THE WEEK.
There has been a marked change for the better in
the various broker's offices during the week. Not
withstanding the worse than midsummer weather of
the past few days, there has been remarkable activ¬
ity in the sale of vacant lots, especially in Harlem.
Other districts also jjive evidence of the determina¬
tion of investors to buy while yet the figures are rea¬
sonable. This renewed state of the market must not
be considered as being tbe second chapter of the re¬
cent boom, but as an indication that the real estate
market is in a thorough healthy condition, with
steady, honest business transactions. The fact thai;
prominent investors have recently begun to improve
property that has long remained vacant, and that,
slowly but steadily, their example is being followed
by others, gives an undertone of strength to the mar.
ket which has heretofore been absent. It is really
only just now that that the people at large begin to
apppetiate the effect of rapid transit on Manhattan
Island. While iet the elevated roads were in their
infancy, there was an ample supply of houses in the
upper part of lhe city for those who wanted them.
Now, not only the increased population, but the shift¬
ing up-townward of our own people has reversed the
situation. There is more demand and less supply,
and hence those who build in certain localities find
remunerative retui?ns'fOr their investments,
Mr. E. S. Higgins, the carpet merchant, who for
years has accumulated vacant propert.y without sell¬
ing anything, has at last begun to build seven eighteen
feet houses on One Hundred and Thirtieth street, be¬
tween Sixth and .-seventh avenues. His example, it is
reported, will soon be followed by Mr. Simeon Bern¬
heimer, who owns property on One Hundred and
Twenty-ninth street, between Sixth and Seventh
BIr. Henry L. Pierson, we understand, will also
build shortly twelve three-story houses on One Hun¬
dred and Forty-first street east of Willis avenue.
Mr. Edward Clark has purchased six more lots,
during the past week, on the north side ot" Eighty I
fifth street. 100 feet east of the Ninth avenue, for
«36.000. These identical lots were sold on March Sth
of this year, by Mr. Salem H. Walei to Dan B. Alger
for 82,5,000, and the latter has. therefore, made a profit
of $11,OUO in less lhan three months.
The disposition to build, nov.^ noticeable in various
localities, is shown, for instance, by a sale of lots.made
at private contract during the flrst days of the week
to Mr. Van Duzen, a builder, who has already begun
to improve them. He bought four full lots on the
southwest corner of New avenue and One Hundred
and Twenty-third street, west of Mount Morris Park,
for $40,000. and intends to erect some fine houses
there, Mr. Ketchum and Powers having fine buiidings
on the adjoining block.
The northeast corner of Fifth avenue and One Hun¬
dred and Twenty-nintn sfcreet, 50x110, has been sold
at private contract during the week, for $23,090.
Mordecai & Bellamy have sold, at private contract
during the week, for Mr. John A. Monsell. ten lots on
the north side of One Hundred and Twelfth street,
150 feet west of Seventh avenue, for $3,900 each; also
seven lots on the north side of One Hundred'and
Eleventh street, 200 feet eastof Eighth avenue, for
$2,9f,0each Thesame firm has sold one lot on the
south side of One Hundred and Fourteenth street
between Fifth and Sixth avenues, for $2,700.
! [Siegmund T. Meyer & Sons have sold to investors
considerable improved property at private contract
during the week. Among others, 49 East Fifty-sev¬
enth street, 2Px92, for $12,-00. and five houses In
Crooklyn, viz : 173, 175, 177. 179 and 181 St. Mark's
avenue, between Carlton and Vanderbilt avenues
all 20x15x131, for $9,000 cash each.
Benner & Zeller, who have recently moved to Cedar
street, have sold six lots on the south side of One
Hundred and Seventh street, near Second avenue, to
Deane & Chamberlain for $11,400. The same firm
is negotiating for the sale of ten lots on One Hun¬
dred and Sixteenth street and fourteen on One Hun¬
dred and Nineteenth street, east of Third avenue, on
the basis of $95,000 for the twenty-four lots. At'the
time of our going to press there was every indication
that the contract for the sale of these lots would be
signed. Benner & Zeller have also sold at private
contract the following apartment houses: No. 82
East beventh street, between First and Second
avenues, 25x68, five-story brick, for $1.3,000, to Daniel
Gundall; also, 306 East Eightieth street, near Second
avenue. 25x100. a flve-story Philadelphia brick house,
for $12,300, to a wealthy young lady.
Scott & Myers have sold one lot on the northwes
corner of Sixth avenue and One Hundred and Thirty-
first street, and one lot adjoining on the street for
The act providing for a commission of six persons
—Mayor Cooper, Comptroller Kelly, Commissioner
Campbell, John S. Lawrence, Daniel Lord, Jr., and
George H. Andrews—to modify, reduce or vacate as.
sessments, will, no doubt, be signed by the Governor,
when the commission will at once organize for active