Columbia University Libraries Digital Collections: The Real Estate Record

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34 Record and Guide Januuary 13, 188tt The Jones Estate Elook. Never did an auction sale of New York city property create greater interest than tbe recent sale, on the Real Estate Exchange, of the realty belonging to the estate of tbe late Joshua Jones, Never was such a sight seen in the annals of real estate as the eager-, hustling, excited crowd that thronged to overpouring the Liberty street salesroom on November 22d last. The'Jones estate sale will always be a red letter day in the history of gi^at public sales of realty iu this city. It was not alone that the sales a^i-egated nearly 83,000,000, and that tbe properties were auctioned off in less tbau two hours' time. People also came to see what would happen to prices when a perfect shoal of vacant lots wei-s thrown on tbe market at one stroke. Friends of tbe deceased milbonaire wanted to see what figures would be I'eacbed for lots which were originaUy purchased for a mere trifle. Brokers, agents, merchants, clerks, bankers, and capitalists of every description elbowed each other for nearly two boui-s, and watched with ''bated breath" while a crowd of nervy bidders were seeking to get a parcel of the two blocks which had lain dormant for so many years, while the mason's trowel had reared row after row of buildings all around them, to the right, left and front. Tbe market stood the test as few had expected it would. Not a lot was left unsold, and there were buyers on the Exchange ■who would have been vrilhng to pm-chase more still had they been offered. by the weU'loiown property-owner, Mr. Charles T. Barney. It has 6dso bees arranged upon that the residences to be buUt on 75th street are to be set baCk 8 feet beyond the house line instead of only 5 feet, as is usual where such restrictions are made. The character of the property is ah-eady determining itself. Beginning at a point 100 feet east of 9th avenue on tbe north side of 74th street, no less than 475 feet, or eighteen lots, have already been purchased for improvement. Tbe fii'st 100 feet will be improved by Messrs. CoUeran and Brother,.thenext byWm. H. Jacob, and the four lots adjoining by Mr. R. Le Foi-te, a gentleman distinguished in decorative art circles, who only recently returned to this city after sever-a! years sojourn iu Europe, and who selected these four lots for tbe investment of his capital. The 50 feet adjoining will be improved by Messrs. Cunningham and Ehrich, while the plot of 69 feet further east will be built upon by Mr. F. Aldbous. All this property will be improved with private bouses of a first-class character. Between them and the lot purchased at the sale by Judge Dugi-o there is a vacuum of 181 feet, and this, too, wil! no doubt soon be sold and improved with private residences, Michael Brennan, the well-known builder, will improve five lots on tbe Central Part West front with handsome apartnifeut' houses which will be an ornament and not a detriment to the block. Mr, Vernon K, Stevenson still owns the southwest corner on that avenue and 75th street, and Judge Dugro two lots on the corner of 74th street. The diagram given below shows, at a glance, names of the owners ou This block front (33 lots) was sold June I, ISsa, to Ashbel H, Bamey for 6320,000. The 33 lots opposite brought S404,650 at the Jones sale. 800 7SfU SXKEEX. (Restricted to Private Dwellings). 100 g A, W. Frazer. Wm. Strauss. 0, McCrorken. owner. 100 600 100 Stevi owner. V. K. Stevenson, jn This plot of 94 lotB was bought at^the Jonea sale by F. De K, Wisemanu for $264,000, and resold to Henry morganttaau et al, for $384,000. Colleran Brothera will build here. 100 Wm. H. Jacob will build here. IOO E. Lo Forte will build here. 100 CuuniuK- baiu & Ehrich will im¬ prove these lots 50 Fred. Aldhous will build here. e9 Micbael Breniiim will erect two first-class fiats on this plot. This plot for sale by —— H. Morgeuthau. I 131 Judge P. H. Dugro, owner. 100 14tli STUEET. The Clark estate are applying to the Court on behalf of Ukfant who owns the property to restrict these lots- ■ss Clark estate houses. 73d STREET. The Dakota. But let us take a seai-ch into what has been done with some of the vacant properties since, and what is likely to become of them in the way of improvement, The first lot resold was disposed by Judge P. H. Dugro to Michael Giblin, the builder, for $32,150, an advance of S3,150, a few day after tbe sale. This lot is situated on tbe northwest corner of 9th avenue and 74th street, and is to be improved by the erection of a very handsotre apartment house. Almost simultaneously tne twenty-four lots purchased by Broker F, De R, Wissmann were resold to Messrs. Henry Morgenthau, Wm. J. Ehrich, Charles "Weinberg and Alfred T. Lewai-d for §384,000, an advance of $30 000. This, with the 60U feet comprising the '74th street front purchased by Messrs, Morgenthau & Ehrich and R. A. Cunningham at the sale for 1283,200, brought the holdings of Mr. Morgenthau and his friends up to forty-eight lots, costing $567,300. Purchases of this character and by such a shrewd judge of real estate as that gentleman is known to be, show that the property is going to have an important futui-e before it. And, as if to bear out this view, the news reaches me that there is not the least doubt about the report as to the restriction of this property. I am able to state on the very best authority that not only tbe northern front of 74th street, but also both aides of T5tb street, will be restricted to private residences. Besides, aa though to give an additional guai-antee to the selectness of the location hereafter, the entire northei-n front of the latter street is now held and near the block, the improvements contemplated, and other informa¬ tion that will be of interest to those who own property in the neighbor hood, Tbe 600 feet owned by Mr. Morgenthau on tbe south side of 75th sti-eet, between the Central Park West and 9th avenue fronts, are not yet disposed of for improvement, but they are to be offered for sale to builders or investors, iu large and small parcels, who will conti-act to cover the property with first-class residences that will give tone and character to the block, I learn that the Clark estate have made application to the Court on behalf of a minor who owns tbe property on the south front of 74th street, to restrict it in a similar manner to tbe frout in tbe rear on tbe north side of 73d street, which is covered with such a row of fine residences—tbe pioneer row of the west side. This application, if granted—as it no doubt will be—will greatly benefit the Morganthau block and place the final seal upon the character of the neighborhood which, iu a year or two hence, wUl have become one of the finest and most select ou the west side. Obbebver. A meeting of the Washingtan Heights Taxpayers' Association will taka place on Saturday, the 12th inst., at 8 p, m,, at the new Mount St. Vincent Hotel, 10th avenue and 148th street. The Committee on Constitution and By-Laws and on Nomination of OflScers wiU submit its I'eport for confirms-