Columbia University Libraries Digital Collections: The Real Estate Record

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164 The Real Estate Recorix February 25,1882 passer-by. In the eye of the French law it is the police who are to blame if coal holes are left open and areas unguarded. Then careless and wasteful Americans who rent suites of rooms furnished, are very much as¬ tonished when they leave their apartments to find that they are responsible for the dam¬ age done to the furniture. Every sou is charged up against them. If the carpets are permanently ruined, or tJie fui-niture broken, or the walls scratched, the tenants who were privy to the mischief Jiave to pay roundly for their carelessness. We all know how different it is inNsw York. Here the tenant is tempted in every way to be careless, for the landlord knows that the court is not his friend but his enemy, and that there is no redress for the destruction of his property. Any drunkard here can bring an action for damages if he slips and is injured in front of a house. The only remedy the householder has is to get all he can for his property in the way of rent, and insure himself against all possible losses. Certainly eleven out of every twelve jurors belong to the house renting class, and cannot be depended upon to do justice to the owners of the property to which they pay tribute. If we want ren¬ tals to assimilate to those of Paris and Lon¬ don, we must treat property holders with more justice. This being a short week, one day being out, the conveyances show a falling off as compared with last week, but the mort¬ gages are a trifle heavier. The annexed dis¬ trict shows exceptional activity, both in the number of transactions and in the amounts involved. The park question has doubtless led to investments in the Twenty-third and Twenty-fourth Wards. Week end ing. Jan. 11 18 25 Feb. 1 8 15 22 N.Y. Am't No. No. 23d Am't No. City in- Nom- & 24th in- nom- Cons. volved inal Wards, volved. inal. 237 4,256.853 52 143 2,345.927 .38 161 3,007,041 37 219 3,343.055 52 199 2.29:2,092 70 15^ 2,037,493 40 140 1,731645 64 Week Morfc- end- gag¬ ing, es. Jan. 11 18 25 Feb. 1 8 15 22 229 219 182 196 206 134 141 Am't. No. in- Five volved. per ct. S 2,367,601 58 1,872.061 26 1,836,577 40 1,79,5,680 62 1,616.509 48 1,196,196 38 1,281,722 29 25 57,444 2 30 86,811 14 19 36,610 4 24 54,207 8 12 7,600 5 6 12,990 1 22 147,349 6 Am't. No. to Am't in- T. & in¬ volved Ins Cos. volvei. (C fit 707.650 38 788,700 260;587 57 698,300 753,900 40 649,000 784,286 41 522,250 483.400 39 434,5 0 507.150 13 282,00t1 229,500 35 587,500 MINING INFORMATION. Mr. Daniel Cook is authority for the state¬ ment that when he, Colonel John F. Boyd and William Irwin, examined the Standard mine last June, it had at least four years' dividends in sight. The Standard has got possession of many claims to the eastward, as its owners believe that the veins] run as they do in the Comstock, far to the east of the present workings. Mr. Cook further says that while there is no pay ore so far as known in the Bulwer, the company can pay ten cents a share dividends for two years upon the returns of the mill, that is if no acci¬ dents intervene. He is inclined to belive that the Comstock is played out. There are said to be excellent reports from the Alta Montana. Professor Blake, it is said, has examiined the property and speaks well of it. Professor Raymond in the Mining Journal en¬ dorses a report on the Alice mine of Montana, which makes great pretensions. The mining market was strong during the early part of the week, but the intervening holiday affected prices. There has been rain enough on the Pacific coast to furnish a good deal of water for the various mills which were idle for want of it. The Calaveras Milling and Mining Company have now enough water to keep it at work till far in the summer. The stock has been more active and higher priced lately. Some curious figures are given in foreclosure sales. In the proper department of this paper will be found announced the sale of property on l3nioa avenue, north side, 300 northwest Hoffman street, 50x100, where a mortgage of $116.67 was foreclosed, the legal expenses and the auctioneer's fees of which will amount to $150. The lawyers, in this case at least, were a heavier lien on the property than the mortgage. ---------------------------< •-►--------------------------- The revelation made in a city paper last week respecting the cost of winding up insolvent in¬ surance companies were startling. They show that the receivers and the lawyers managed to eat up nearly all the assets. There will be a re volt of the community some day against the in¬ tolerable burden imposed on property by lawyer legislators. The worst feature of this matter is that judges are tempted to use their positions in a way to add to their own ^ains, for it is absurd to suppose that they would keep on reappointing the same ring of lawyers, who profit so immense¬ ly by this legal plundering, af they did not in some way benefit themselves. OUT AMONG THE BUILDEIIS. C. W. Romeyn is preparing plans for a three story brick, stone and terra cotta stable for H. S. Ladew, Esq., to be erected on Sixty-ninth street, west of Third avenue; cost, S12,000. The same architect is preparing plans for altera¬ tions on the bui ding, owned and occupied by J. B. Hoyt & Co., at Forty-third street and the Easfc River. The alterations will cost 83,000. The brick building afc fche northwest comer of Greenwich and Beach streets is to be altered into a flat house. Architect, F. W. Klempt. Owner, Wm. Group. A flat house with store will be built on the very irregular piece of property known as Nos. 39 and 41 Rose street, 51.1x13 and 15.6. Architect, Wm. E. War¬ ing. Henry Ketelas, owner. J. Morgan Slade is at work on the plans for a first- class six-story brick and stone front store building fco be erected by Mr. R. T. Wilson on the property recently purchased by him at Nos. 384 and 386 Broadway, 43.6x 176, and for which he paid $210,000. This building will be plastered to the top story, and contain, in addition to a passenger elevator in the front of the building, a freight elevator ia the rear, together with all the latest improvements. Mr. Fenfcon proposes to erect two four-story hrown stone flat houses on the north side of One Hundred and Thirtieth street, 300 west of Sixth avenue. Mr. Treacy will erect four three-story brown stone residences on the plot of ground just purchased by him on the north side of One Hundred and Twenty- ninth street, 350 west of Seventh avenue. The cost of this improvement will be about $35,000. A company is forming for the erection of the hand¬ somest apartment house ever built in this country, on the southeast corner of Fifth avenue and Twenty- eighth street, on the premises known as the Knicker- hocker Club property, and the three adjoining brown stone houses, about 100 feet on the avenue and 125 feet on the street. It is proposed to issue bonds to the amount of $500,000, at 5 per cent. This apartment house will be thoroughly fireproof, and cost, including the price paid for the property, $1,000,000. Messrs. Hubert, Pirrson & Co. are to draw the plans for the structure. Governor Stanford, of California, proposes buying an extensive plot of ground in this city, and erecting thereon a magniQcent private residence. The Dock Commissioners, at No. 117 Duane street, will receive up to March 8, at noon, sealed proposals for estimates for repairing pier 15, East River, and its hulkhead and return. Said pier is near the foot of Wall street. ----------------«-«-> Proposals will be received at the oflice of the super vising architect, Washington, until 12 m., March 1.3th 188J, for all the joiners' work and wood flooring required for the U. S. Barge office in New York. The Aldermen passed a resolution requesting the Commissioners of the Department of Public Parks to repoi-t to them, at their next meeting, why Mott avenue, from One Hundred and Thirty-eighth street, to the bridge over the railroad near One Hundred and Fifty-second street, had not been paved with Macadam pavement. ----------------«-»->---------------- The Sinking Fund Commissioners will sell on March 14, at the Exchange Salesroom, four lots, situate on the north side of Sixty-first street and Ninth avenue. These lots are 100 feet front and rear, and 100.S feet deep. -----------------♦-•-♦----------------- Commissioner Thompson invites all person who ob¬ ject to changing the grade of Seventy-ninth street, between Fourth and Madison avenues, to state their objections to him in writing, on or before March 3, 1882. The map, showing the present and proposed grades, can be seen at 31 Chambers street, room 7. --------i.im. «>■>-------------------- The Commissioners of Estimate and Assessment will present their report relative to the opening of Seventy-fourth street;, from Eighth avenue to the Hudson River, to the Supreme Court, on March 28, 1882, and move that the said report be confirmed. MARKET REVIEW. On March 10, at 11 o'clock, the Comptroller will sell at his office twenty-four parcels of land in the Twelfth Ward, hoimded by Second and Third avenues, and Ninety-eighth and Ninety-ninth streets. REAL ESTATE. ^P~ For list oflotft and Iiouaes for sale Siee pages II, iii and v oi advertiftenientK. Last Thursday presented a curious phenomenon. In the stock market all was confusion, margins were being gobbled up, and operators for the long account sold out. One stock, Richmond & Danville, fell 89 points. Nearly 700,000 shares were sold in a market, the average of which has been not much mere than 250,000. Yet, while the Stock Exchange was in a state of semi-panic shortly after noon, the Real Estate Ex¬ change was full of bidders offering exceptionally high prices for real property. All the sales were considered as good, the business property as usual scoring the best advances. The flve-story hrown stone store, 61.1 xlOO. in the rear of the St. Nicholas Hotel, sold for $131,750, which shows the repute of that once ill-famed street for future husiness purposes. Some Bowery property sold very well indeed, but the surprise of the day was in the very handsome prices brought by West Side property. The twenty lots on Ninth avenue. Sixty-eighth and Sixty-ninth streets, were eagerly bid for. The northeast corner of Sixty-eighth street and Ninth avenue brought $9,100. while the lots on the streets east of Ninth avenue brought from $7,100 to $7,300 each. Auctioneer Harnett, who sold the above properties, must have been satisfied with his day's work, for he is a believer in down-town business prop¬ erty as well as West Side unimproved lots. The pur¬ chasers of the vacant lots are among the shrewdest real estate operators in the city. They are satisfied, apparently, that their purchases are on the line of al¬ most immediate improvement, and that there is no reason why lots west of the Central Park should sell for so low a flgure compared with those east of the Central Park. Ninth avenue promises to be a business thoroughfare, and the sale of Thursday shows that experienced builders are not afraid of an elevated road running in front of business property. Sales during the week were generally good, yet still there was plenty of property sold which will pay a good in¬ terest. A house, for instance, on Thirteenth street which rents for $1,600, sold for $14,200. There may be a gloom thrown over the real estate market by the semi-panic in the other markets, but this is au excel¬ lent time to buy, for after all the country is in full business activity, and now that the speculation is over in stocks, grain and cotton, we may naturally expect that real estate will come in for its share of specula¬ tive attention. Adrian |H. Muller irill sell on Thursday, March 2, what remains of the estate of Adon Smith, deceased It comprises property on First and Third avenues, and East Tenth and East Fourteenth streets; also, fifteen lots on Eighth, New avenues and One Hundred and Sixteenth street. One Hundred and Sixteenth street is a wide street, six blocks from the Central Park, and just under Morningside Park,which will in time be one of the most attractive in the city. One feature of the sale of Ninth avenue lots served to help the price; sixty per cent, of the purchase money was al¬ lowed to remain on bond and mortgage for thtee years at five per cent. The One Hundred and Six¬ teenth street property, by the way, mentioned above, may be said to be in the line of improvement, for the builders who are improving the region above One Hundred and Twenty-fifth street are considering to erect structures below One Hundred and Twenty- fourth street. On ^Thursday, March 2, Adrian H. Muller will sel