Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 47, no. 1203: April 4, 1891

Text version:

ApriU, 18«1 Record and Guide. 513 Tonnelle avenue, by C. S. Haines, to cost «3,500; a similar dwelling, to be W built on Montgomery street, near Britten street, for J, H, McKelvey, to ' cost 83,800; two two-story and basement houses, to be built on Baldwin avenue, near Montgomery street, forJ.H. Warner, tocost *5,000; a two¬ story stable, ;jSxlOO in size, to be built ou Monmouth sfcreet, uear 6tb sfcreet, for Johu Scburr, at a cost of S:J,0O0; a four-story frame apartment house, to be built on 10th street, near Jersey aveuue, by John Mullins, to cost ¥S,500: a three-story frame double flat with stores, 25x5S, to be builfc on Halliday street, near Communipaw avenue, for John H. Brown, to cost $5 200; remodeling tbe house on Communipaw avenue, near Pacific avenue, into a four-story flat and>tore, for James Watson, to coffc $4,500, and altering and adding to tbe American Hotel on Montgomery street, near Eschange place, afc a cost of ^5,'iOO, for John Mullins, The New Herald Bmlding Postponed. James Gordon Bennett has cabled over from Europe to his lawyer, Johu Townshend, that all proceedings looking toward tbe erection of thenew Herald builoing contemplated on tbe site of theproperty located between Broadway and 6th avenue, 35th and S6th slreets, are to be postponed for the present. Ifc will be remembered tbat Mr. Beunett last summer leased Ihe prop¬ erty from W. D, F. Maniee for thirty jears, at rentals of $50,000 per annum for lhe first teu years, $60,000 for tbe second teu yearsi, and' $70,000 for lhe third teu years, aud fcbat he announced his inten¬ tion to comiiieuce fcbe erection of a new Herald buildiug ou the site on May 1, J. Romaine Bro%vn & Co., agents for theproperty, have renewed the leases of mosfc of the present teuauts (or anotber year from May I, 1801. Messrs. Lewis & Cougerand others wbo had anticipated tbat tbe buildings would be torn down on May 1, made arrangements to nccupy other quarters, and there are thus several vacancies ou the hands of tbe agents, Il is said thafc Mr. Bennett intends to come over to New York aod per- ■Eonally superintend tbe arrangement of the plans. It is also reported that he bas been m negotiation with the American News Company, who desire -fco lease half of the first fioor and basement. It is known that the News Company have long since been dissatisfied with their cramped quarters in the basement of the Alpine, on Broadway and 33d street, and that they have been seeking other quarters. The Hamersley Property, Theeaect siae of fcba vacant property which has beeu offered by fche Hamersley estate, and fche cot ditions under which nart of it has beeu sold, are not generally known. Tbe property comprises fcweuty-four city lots, taking in the block frout on Sth aveuue, between 6(tb aud OIsl streets, and comprising in all 200.10 feet on the avenue and 300 feet on each street. Vyheu the property came into tbe market a few monlbs ago its disposal was left to J. K. Lockniao, nf tlie old and well-known law firm of Oe Witt, Lockman &, De Witt, and Geo. G, Williams, President of the Chemical Bank, tbeiie gentlemen being trustees of tbe estate. They did not set auy price on tbe tots aud iuvited offers. Numerous bids were made, aud among the most satisfactory was that for seven lots, sub.-equeutly increased to eight lots, made by Roberfc GoeleC and- other prominent citizens, with the object of buildiug a club on the site, Tbese iots are on tbe northeast corner of 60tn street, aud comprise 100,5 on the ayeuue and 200 feet on the street. At first these gentlemen obtained an option on the property, but Presideut Williams on q'hursday informed the writer thai tbe contract has now been signed for the purchase. Last week The Record AND Guide further announced that the estate had soldsix lots adjoining, Tbese are on the southeast corner of 61st street, not 02d street, as I'eported through a typographical error in oiir"Gossip" column. These lots were purchased by Elbridge T. Gerry, who stated to a reporter of The Riscoku and Guide tbat he intends to build a residence on the site, though he has not had plans drawn by auy architect as yet. Mr, Lockman informed tbe writer that the price obtained by the estate for the fourteen lots was $950,000, of which $500,000 was lor tbe eight club lofcs, and $450,000 for Mr, Gerry's property, Mr. Williams on Thui'sday stated fcbat the six lots on 61sfc street aud four lots on 60th street remaining ai'e in the market for sale. Legislation at Albany, Albany, April 3,—As the session draws nearer to a close fche legislafcive machine grinds faster. Tbe pasfc week bas beeu a very active oue, and many bills of impoi-tance to property-owners and taxpayei's in New Yprk City have either beeu added to the statute book or passed upon one way or another by the different committees or by either of fcbe Houses. Among the bills reported by tbe Tasalion Committee for consideration is tbe one to allow the deduction of indebtedness from the taxable value of real estate, except in case of i-ailroads and other corporations. Tbe Tax Listing Bill was also reported for cousideratiou, Tbe Assembly passed a bill to establish Cathedral Parkway, and the bill making amendments to the short form of deeds and mortgages has gone from the Senate fco the Assembly. Among otber bills passed by the Senate is one bringing repairs to per¬ sonal property uuder tbe Mechanic's Lien Act, and tbe Assembly bill pro¬ viding that surface railways shall repair street pavements befcween the rails and 3 feefc on each side of tbem passed fcbe Senate. ■ The Senate bill, wbicb provides for the improvement of tbe Boulevard, between 156th street and Inwood street, has been ordered to atbird reading in the Assembly. It will be of interest to Brcoklyn and New York City to learu that Ranny'e Long Island City Bridge Bill bas passed both Houses, and tbere is no reason for thinking thafc it will not in due course Ijecome a law. Clark's Twenfcy-thii-d and Twenty-fourth Ward Street Improvement Bill bas been ordered to a third reading in the Assembly; so bas the bill reduc¬ ing the legal rate of interest to 5 per cent; as well as tbe bill declaring void all consents granted by the Commissioners of New York Cifcy to allow railroads to occupy any portion of the public parks, aud providing tbat all structures erected thereon shall be removed. The Senate bill, allowing the Mechanics' and Traders' Exchange to hold real estate to the value of $1,500,000 has passed tbe Assembly. NOTICE OF REMOVAL. The offices of The Record and Gdide, will be removed to Nos. I4«?id 16 Vesey street, over The Mechanics' and Traders' Exchange, on May lst, Heal Estibte Exchange Matters. The Legislative Oomiuitlee held it« regular meeting ou Monday after¬ noon. In tbe chairman's absence Henry Lewis Morris was called to the chair. After tbe reading of the minutes and call of tbe roll a letter from Comptroller Myers was read, asking the committee tc recommend the pas¬ sage of tbebill providbig for official searches in the Bureau of Arrears. This bill had already been referred to tbe Committee on Taxation and Assessmeut, and later in the afternoon tbey reported fa\orably upon it. The same committee reported against the bill taxing mortgages. Protests against the passage of the bill giving a lien priority of claim over a mort¬ gage, and the bill reducing the rate of interest to 5'per cent, were ordered sent to the chairmen of the proper committees at Albany. Mr. Carreau reported that Mr. Folsom and himself had called upon President Wilson, of fcbe Board of Health, and had bad a very satisfactory interview. Mr. Wilson had requested the committee to address a letter to him asking tbe amendmenfc of the sanifcary code, but an opposition to this proposed action was developed, and instead the Special Committee was instructed to draw up siiifcahle amendments to the sanitary code and submit tbem to tbe committee. A ripple of excitement was raised by Mr. Hamefcfc's motion lo reconsider tbe acli»n taken last week, looking to the removal of the old City HaU and tbe erection of a new building in its place. Mr. Harnett said that he had been greatly surprised when he read of the committee's action. He said he thought the opposition fco the removal of the old Cifcy Hall waa very decided and very strong, aud that there were bnt few in favor of it. Abraham Disbecker made a long speech, iu which be questioned the power of the committee to recommend the step tbey had without first consulting either the Board of Directors or the stockholders of tbe Exchange. In previous years, he said, whenever the committee came out strongly for any measuie they had always adopted this course. Mr, Carreau, referring to tbe last speaker, said it was the first time he bad ever heard oratory in the room, bnt that he was glad to bear it, aud only hoped Ihat they mighfc be treated to it very often. He said that for himself he did not think the city could afford a site outside of the Cifcy Hall Park, aud be was therefore opposed to reconsidering last week's action. Townsend Scudder said that if the members wbo were now objecting had attended to their duties and been present at the last meeting, they might have voiced their opposition fchen. It was a very poor plan, be said, to let it appear to the public that the Escbange did one thing one day and something diametrically opposite the next. Mr, Houghton moved to la.v the reconsideration over till next week, and in the meantime notify all the members of the proposed action. A letter from Louis F. Post was read, asking for the co-operation of the Exchange in forming a home rule association for the purpose cf hav-' ing passed such bills as that recently introduced, which allows counties to levy taxes as fchey pleast. The matter was refen-ed to the Committee on Taxation and Assessment. The refcui'us from Albany were then read and reference made as follows: To fche City Improvements Committee: Assembly bill No. 9S4, providing for ths improvement of the Boulevard between 156th street aud Inwood; bill No. 1013, providing for tbe construction of a drawbridge over the Harlem River at 3d avenue; Senate bill No. 551, naming a commission to extend Riverside Drive, build a driveway to Spuyteo Duyvil and issue $3,000,000 of bouds to defray the cost; and bill No. 603, providing that streets may be closed up after ten days' notice and proceedings taken to compensate adjacent owners. To the Taj:ation and Assessment Committee: Senate bill No. 570, pro¬ viding thafc debts contracted in the purchase of non-taxable property shall be taxed; Assembly bill No. 997, to codify real and personal tax laws; aud bill No. 999, providing for an income tax. To the Committee 00 Pending Legislation: Assembly bill No. 9.53, pro¬ viding for official searchers in tbe Finance Deparfcmenfc; biU No, 105S, making Good Friday a legal holiday; and Senate bill No. S87, amending the Code of Civil Procedure. The followiug named gentlemen have been proposed for membership: Edward Cabot Wilde by D. Robinson, Jr., and Gerald R, Brown by J. N. Golding, Real Estate Assessments in New Yoi'k State, The report of the State Assessors, in answer to a resolution adopted by the Assembly, March Sth, was presented this week. Ifc gives tbe fol¬ lowing statistics: The thirty-one cities of the State retm'ued in 1889 a total assessment on real esfcate amounting to $3,256,207,3fe9, of which $1,331,578,291 represented realty in tbe City of New York, $407,000,000 realty in Brooklyn, and $147,540,429 realty in Buffalo. This leaves for tbe remaining twenty-eight cities an aggregation of only $370,878,568. The assessed value of real estate iu 100 of tbe incorporated villages or the State, added to the assessed value of realty in the thirty-one cities, amounts to $2,341,792,295. The total aggregate, outside of cities aud of the 100 villages, ie 8056,531,636. Thus the assessed value of realty in cities and villages is $1,385,260,659 greater than the value of all the other realty in the State.