Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 25, no. 621: February 7, 1880

Text version:

Real Estate Record AND BUILDERS^ GUIDE. YoL. XXV. NEW YOEK, SATUEDAY, FEBEUAEY 7, 1880. No. 621 Published Weekly by THRMS. ONE YEAR, in advance.. ..SIO.OO, Communications should be addressed to C. MV. SWEET, Nos. 135 AND 137 Broadway The regular lists of Conveyances of Real Estate, Jlortgages and other statistical records are so large this week that we are compelled to lay over all edi¬ torial comments. MARKET REVIEW. REAL ESTATE MARKET. 2^° For list of tots for sale seepages iv and v of adeertisements. Tliee were some sales of considerable interest at the Exchange during the week. Among the fore¬ closures were the VVitthaus houses, Nos. 6, 10 and 12 East Twentieth street, near Fifth avenue,* the three buildings being knocked down at $80,000 to the plain- tiff.s in the suit. On Tuesday Mr. Bernard Smyth sold in partition three lots on the south side of Ninety-third street, 100 feet east of Tenth avenue. for Si),200, to Lespinasse & Friedman. These gentle¬ men have since-resold these lots at private contract for §11,000. Thursday's partition sale conducted by Mr. Harnett, was very largely attended, Mr. Smith Ely, Jr , securing a five-story brick store and dwelling on the east side of Third avenue, near Thirty-fourth street, for 5-21,000. The Lexington avenue and Fortieth street property, disposed of at the same sale, also brought very fair prices. There, was a lively interest in the sale of the Boulevard lot near One Hundredth street yesterday, and after some tardy, in some respects childish, bid- fling, Mr. Seaman knocked it down at 86,500 to Messrs. Le.spinasse & Friedman, who bought the lot for Mr. N. D. Higgins. In Brooklyn, on Wednesday, four lots on the southwest corner of Bedford avenue and Ross street were sold at auction by Mr. Edward McLaughlin for §32,800. GOSSIP OF THE WEEK. Extraordinary activity continues to be the leading fearure of the various brokers ofBces, and it is diffi¬ cult even to keep track of the numerous reports of sales that reach us'trom all quarters. We again repeat here that we only publish those sales that are authoritatively vouched for, and designate rumors as such in every instance. Of the latter class the market, of course, is unusually full just now. The negotiations for the hotel property on Fifth avenue, between Fifty-eighth and Fifty-ninth streets, are said to be progressing rapidly. Common report has it that.a clique of California speculators, among whom Senator Jones of Nevada is the shining light, will ultimately succeed in purchasing thia eligible property so as to include the entire block from Fifth to Madison avenues, and erect thereon a hotel that will eclipse in splendor a*nything of this kind now in existence, either ia this country or Europe. As considerable interest is attached to this transaction we can authoritatively state that up to the hour of going to press with this edition no sale has been effected and that negotiotions are still pending. Three lots on the south side of One Hundred and Thirty fifth street, west of Fifth avenue, have been purchased, by Mr. James Thompson for $.3,.'S00 each. Eleven lots on One Hundred and Sixteenth and One Hundred and Seventeenth street, between New and Ninth avenues, have been sold to Mr. J. M. Pinckney at $2,500 each. By reference to our columns of transfers it will be seen that Mr. Nathan J. Newitter has bought three lots ou Ninety-eighth street, 125 feet east of Fifth avenue, for $4,500 each. We simply call attention to this transaction for the purpose of stating that these identical lots were sold in 1872 for $11,500 each. The purchaser, of course, feels contented at his bargain, and, while in the effort to steer the boom right ahead, he has <1eclined an offer of $15,000 each for two lots on Fifth avenue, 50 feet south of One Hundred and If'irst street, for which he paid only one year ago $5,000 each. The sale of Seventy-ninth street lots, alluded to in one of the daily papers, has been incorrectly reported. Messrs. L. & I. Phillips closed the contract for these lots, which are on the north side of Seventy-ninth street, 150 feet east of Fifth avenue. There were six of them in all and they were sold at $30,000, not ¥84,000, apiece to Mr. Jacob Campbell, President of the Pacific Bank. Ihree lots on the southwest corner of Seventy" ninth street and Ninth avenue were sold at private contract during the week for $16,16) to Mr. Christian Blinn. The circumstances surrounding this transac¬ tion caused a good deal of comment in the street during the week, owing to the fact that Mr. Burling, who had charge of these lots and conducted the nego¬ tiations successfully with Mr. Blinn for a number of weeks, was suddenly ignored by the buyer for the simple reason that he happened to be out of his office, while engaged in other transactions, for about a half hour, just as Mr. Blinu made up his miad to close the contract. Pine street, just now, is exceedingly anxious that the rights ot brokers should be protected on all occasions, and during the present revival of business it is but fair for builders and buyers to remember this. Mr. John A. Monsell has purchased fifteen lots on One Hundred and Eleventh and One Hundred and Twelfth streets, between Seventh and Eighth avenues, for $41,350. In 1871 Mr. Edward J. King bought these lots for $40,100. They now average Mr. Monsell $2,750 apiece and he holds them at $3,50U. Five months ago Mr. Monsell purchased ten lots in the rear of those he has just secured for the same amount. Along the line of the Eighth avenue there has also been considerable activity during the week, and many sales there have been consummated at private contract. Mr. Bird, the hatter, and Mr. Arkenbergh have jointly sold the two lots on the northwest corner of Eighth avenue and Eighty-first street, also two inside lots for a total sum of $72,000—the price for the inside lots being figured respectively at $14,000 and $13,000. Three lot.=! on the west side of Eighth avenue, be¬ tween Sixty-fifth and Sixty-sixtn street, have been sold for $45,000 during the week, and the northwest corner of Eighty-eighth street and Eighth avenue, 50.4x100. has been sold at private contract for $28,000. Mr. Edward Clark, also has secured more Eighth avenue property. He has just purchased eight lots on the northwest corner of this avenue and Eighty- fifth street—four lots on the avenue, and four in the rear v/ith an additional street gore for $95,000. .There is also great activity in lots between Eighth and Ninth avenues, all the way from Sixty-fifth to Seventy-seventh street, because as yet they are con¬ sidered cheap n comparison with east side lots. Some of them can be had yet at $6,i500, but it now looks as if there is to be soon more of an equalization of values between these west side and the booming east side lots, near the Madison avenue line. Mr. Simeon Stern, the lawyer, has purchased the northwest corner of One Hundred and Sixth street and Fifth avenue, one lot on the-avenue and two on the street, for $25,000. Six months ago these lots were bought for $16,000. Lespinasse & Friedman have sold at private sale the four lots on the northeast corner of One Hundred and Twenty-seventh street and Seventh avenue, 100 xUO, for $24,000, to Mr. W. H. Kelly. One lot oa the southeast corner of the Boulevard and Seventy-second street, 25.8x100, was secured yes¬ terday by a well-known buyer for $17,500. Coles & Heiser have sold during the week, at private contract, the plot of nine lots on the southside of Ninety-third street, between Eighth and Ninth aven¬ ues, for $45,OGO. We note the following private sales of improved property during the week: V. K. Stevenson, Jr., has sold the four-story high stoop brown stone residence, 64 West Fifty-third street, 20x55x100, for $30,500. to Mr. A. H. Brown; also the four-story brown stone high stoop dwelling, 20x65x80, No. 768 Madison ave¬ nue, near Sixty-sixth street, for $28,500, to Mr. Thomas Hindley. Messrs. Hine & Gray have sold for Mr. Charles Johnston,.the store and dwelling, No- 564 Second avenue corner Thirty-first street, for $11,900, to Mr. James CarroU. Falconer & Son report the sale of the four-story brown stone English base¬ ment house, 236 East Twelfth street, for $10,250. Gilbert Smith & Co. have made the following sales on private contract: Two of those elegantly cabinet- trimmed houses fronting Central Park, on Fifth avenue, near Eighty-fourth street, with 125 feet lot and stable, for $50,000 each. The two brick stores and dwellings on southwest corner of Eighth avenue and Thirty-second street, for .$45,C0t). Mr. W. R. Grace, the sugar refiner, purchased 230 acres of Staten Island property, opposite Elizabeth- port, with about 1,800 feet water front, for the pur¬ pose of erecting thereon a large sugar refinery. The property belonged originally to Mr. Bowman, on whom ic was foreclosed last month, when the encum¬ brances thereon amounted to abeut $100,000. fllr. Grace, who has just purchased it at private contract, is said to have secured it at a very low figure, but notwithstanding repeated efforts on our part, Messrs. Coudert Brothers, the attorneys for Mr. Grace, de¬ cline to furnish the exact particulars of the transac¬ tion. Mr Bowman, the original owner of theprop¬ erty has since assured us that last month's foreclo¬ sure sale was a sort of snap judgment, and he claims that furthor litigation will ensue before Mr. Grace cau take possession. We are now in possession of full particulars of the purchase of the Highlands of Navesink, by a party of gentlemen. It appears that some time ago this association was formed under the title of the Nave- sink Park Company, with the followiug directors : Henry Hilton, President, Henry Morgan, E. A. Os¬ borne, and R. A. Francis. The capital stock of $175,000, is held by some thirty to forty well-known gentlemen, among whom are in addition to the above. Samuel D. Babcock, John A. Stewart, and Henry M. Alexander. The management intend to engage the best engineering talent obtainable, and make this Park—as its location entitles it to be—the finest fami¬ ly seaside resort in America. BUILDING IN JANUARY. The following figures show the actual increase and cost in the number of buildings embraced in the plans filed at the Department during the past month compared with the corresponding month of last year: January, 1879. January, 1880. No. Buildings. 93 143 Cost. $758,553 1,693,500