Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 42, no. 1063: July 28, 1888

Text version:

and Guide. July 38, 1888 for Truth." If pubhc censors were appointed they would naturaUy ask a great many questions, but they would not be satisfied with barren discus¬ sions. How to Draw a Contract, An Invaluable work for all dealers in realty is found in " The Guide to Buyers and Sellers of Real Estate," by Counsellor Geo, W, Van Siclen. This pamphlet, of only fifty-six pages, offei-s a complete solution of all tbe compUcated questions that ai-iae in di-awing contracts. It discusses ques¬ tions of titles, hens, curtesy and dower rights, deeds, searches, etc., and contains forms of contracts and judicial decisions which, -vrith other general information, wiU go far towards making every man his own lawyer. It tells aU about fixtures, assumption of mortgages, apportionment of rents, description of property, terms of payment, damages for faUnre to can-y out contracts, information ou setting aside contracts for mistake or fraud, and forms of deeds. Published by The Record and Guide, 191 Broad way. Price 50 cents. ----------«---------- Real Estate Department. There has been comparatively nothing doing at the Real Estate Exchange this week, and almost a simUar report may be made of the brokers' offices. The feature of the market continues to he the exchanges of property which are taking place. The largest sales i-eported in our "Gossip" columns in our two issues previous to this date are examples of this. The auction sales dm-ing the past week have been mostly of properties under foreclosure and in suburban towns. The subm-ban sale held by Jere. Johnson on Tuesday was very successful. The attendance at GaiTetson's, ou Staten Island, was between 3,000 and 3,000, and 150 lots were sold at prices ranging from S105 to ^490, there being ahout fifty buyers in all. Thi-ee special trains were hired to take the large crowds from New York, Brooklyn and elsewhere. On Thm'sday Mi-. John¬ son invited some 500 guests to dine at Bensonhurst-by-the-Sea, Bath Beach, L. I. The collation was served iu the old Benson homestead which was buUt some two centm-ies ago. A great sale of lots wUl take place of property there on Tuesday next, July Slst. On Wednesday, Messi-s. Fan-child & Yoran held a sale of lots in the 2d Wai-d of Yonkei-s. Many of the parcels were sold, but tbe teu houses on the property were withch-awn. The lots brought from §125 to .51,4-50 each, Tbe sales yesterday embraced the dweUing and stable on the southeast comer of 5th avenue and 3yth street. The plot was knocked down at $145,000 to J, R, WUson, Last October the same property was sold to Charlotte M. -wife of Fi-ederie Goodridge, The consideration was §200,000, but au exchange for other property formed part of the sale. Two plots on Audubon avenue, corner of lOfJth street aud near 170th street wei-e sold at much lower prices than ruled at the Jumel estate sale. The committee appointed to select a suitable site for an armory for the Seveuty-fij-st Regiment reported an offer of a plot of 20 lots on 4th .avenue, between ^3d and ii4th streets. The Colonel of the regiment ex¬ presses himseU thoroughly satisfied with the site, but Commissioner Cole¬ man and the Ai-mory Board are not so satisfied, for the price asked is S400,000. Commissioner Coleman suggested that an off'er of §250,000 would be ample for the property. In looking up the records we find that S. T. Meyer acquh-ed the 20 lots in question, with 14 others, making Hi in aU, 197.6x485 feet, on May 2d, 1SS7, for $500,000, with taxes, etc., or about §510,000. Recently Meyer transferred about two extra deep lots of this, 48x117.6, on the south side of ;34th street, west of Lexington avenue, to a George W. Vultee, an assistant iu a Broadway law office, for a considera¬ tion which was stated as §65,000, with a loan of 580,000, But thista-ansfer, whatever Mi", Meyer may thmk of the matter, can scarcely be held as es¬ tablishing the value of the remainder of his property. Even if Mr. Vultee was a weU-lmown dealer in realty, his extravagance might weU be repudi¬ ated by other purchasers who, as a rule, don't cousider themselves hound by any other man's f oUy. The tables this week show that New York is behind the corresponding week last year in conveyances, mortgages and projected buUdings: CONVEY AS CBS. l8Sr. 1883. July 33 to as inc. July 20 to 26 ine. Number..................................... I89 171 Amount involved............................. $3,062,78S Sl,S33,8fi.i Number uomuial............................. 47 57 Number aad and 34th Wai'ds................. 41 37 Amouut involved............................. $98,160 S122,80O Numbernominal............................. 7 7 MORTGAGES. Number.......................•:.............. 254 211 Amount involved............................. S3,93Q,34B $2,139,193 Number at 5 per cent........................ 121 9T Amount involved............................. 81,317,017 $927,038 Number at less thau 5 per cent............... 31 17 Amount involveil............................. $533,490 $331,039 Number to Banks, Ti-ust aud Ins. Cos....... 54 47 Amount involved............................ $930,000 $629,200 PROJECTED BUILDINQS. 1887. 188S. July 23 to 39. July 31 to 97. Number of buildings......................... 83 51 Estimated cost............................... $1,274,030 §619,500 Gossip of the "Week, P. T, Bammn has sold the corner of Houston and Crosby streets, the property once known as " Harry HUl's," for §115,000 to Messrs. Leo Schles¬ inger and Meyer Foster. The size of the plot is 05x113. The buUdings now on the site -wiU be torn down and an improvement made, as announced else¬ where. Brokers, Beringer Sc Lalor, Wm. KenneUy & Bro. have sold for Squier Sc Whipple the four-story, high stoop, brick and stone private house No. 03 West 95th street for §:i2,000, to Dr. Abraham Shotwell. Tbey have also sold for the latter to the former thethi-ee-story, high stoop house No. 220 East 4Sth street, for §17,500, and the four-story, high stoop, brovra stone house No, 83 East 73d street on private terms. L. FroehUch has sold for WUUam Jones the three-story brown stone house No. lis East SOth sti-eet, size 18.4x45x100, to Henry Waters for $16,350. J. CoUins has sold for Patrick Ryan the three three-story brown stone dweUings Nos. 1455 to 14.59 Lexington avenue, to John H, Parker Eor §54,000, aud for the latter to tbe former the two five-story double brown stone flats Nos. 350 and 352 East 43d street for §70,000 in exchange. The Department of Public Parks wiU hear all statements, objections, etc., relative to changes contemplated in the street system between Kings- bridge and Fordham roads and Aqueduct and Sedgwick avenues, at 11 o'clock, Wednesday, August Sth. The Commissiouers of Estimate and Assessment wiU hear objections, etc., relative to the opening of Claremont avenue from 133d tp 187th street, for teu days after August 37th, at 2 o'clock. The report in several of the daUy papers that the Sixth Avenue Raih-oad Company has sold six lots on the northwest corner of 58th street and 6th avenue is incorrect. An official of the company informs us, firstly, that it does not own any lots on that site; secondly, that it owns a plot on the opposite—northeast—corner, and thu-dly, that it has not sold this plot. Johu W. Stevens has sold for Charles MacDonald the flve-sfcory brick and stone flat No. 79 West 91st street, 37xSSxl00, for $35,000 to Capt. Levi Dexter. L. Tanenbaum has sold forBreen & Nason the three-story brick and stone dwelling No, 137 East 80th street, 80x55x100, for §33,500 to Samuel Greenbaum. We hear that the Wright estate has sold the four-story stone front dweU¬ ing No. 33 East 73d street, 80x65, -with extension, 8.6x13.6 lot 100. The terms have not transpired. J. E. Brugiere^bas sold the country seat Imown as Prince Place at Islipj'L. 1., for Mrs. Alfred L. Loomis to Samuel T. Peters for §50,000 cash. Teu shares of the Keal Estate Exchai^e and Auction Room stock were sold during the week at §1,100. Brooklyn, W. P. Leggatt has sold for W. J. Gaynor ten lots on the north side of Halsey street, east of Ralph avenue, for §11,000; for Thos. Fagan flve lots on St. Marks avenue, ruimiug tin-ough to Bergen street and east of Brook¬ lyu avenue, for §23,000; for F. R. Newman eight lots on the north side of McDonough street, east of Marcy avenue, for §-24,000, and the four-story store and dwelling on the northeast corner of Lewis avenue and Halsey street for W. J. Northridge, for §38,500. J, P. Sloane has sold for Robert Schuch tbe southwest corner of Man¬ hattan avenue and Green street. -25x88, to Martin Ahnemann for §13,500. Corwith Bros, have sold the house aud lot No, 140 Meserole avenue for Paul C. Larsen to Joseph Mehlen for §3,400, The Long Island BuUdiug and Loan Association has been duly incor¬ porated aud has issued over 3,500 shares of stock. J. P. Sloane is the presi dent ana Geo, H. Gerard the treasurer. At a sale of funds last week thu-ty-seven shares were sold at a premium of §101 per share. Kings County makes a better showing, ou the whole, than dm-ing the corresponding week last year. In this ifc again conti-asts favorably with New York, which continues to run behind: CONVBrANCBS. 1887. 1888. July 23 to 28 inc. July 19 to 25 mc. Number...................................... 233 236 Amount involved............................ S805,18r $993,2^3 jsmnber nomiuai............................ 79 45 MORTOAQES. Number....................................... 183 216 Amount involved............................. $591,089 $700,173 Number at 5 g or less....................... 101 IIS Amount involved............................. $361,549 $438,35e PROJECTED BCnJUNGS. 1887. 1888. July 23 te 20 ine. July 20 to 26 Inc. Number of buildings........................ 74 88 Estimated cost................................ $300,120 $333,610 ---------•-------- Out Among the Builders, Quite an importent improvement is to be made fay Wm. Moir on the northwest corner of Sth avenue aud 30th street. The pi-esent handsome brown stone residence on the site is to be demolished to make way for a six-story and basement fire-proof structure, 40x135 in size, the first story of which wiU be used for store pui-poses, and the floors above for bachelors' apartments. Two elevators will be provided, as weU as ah the modern improvements. The cost is estimated at upwards of §150,000. The plans ai-e being prepared hy D. Sc J. Jardine. The House of Mercy, which is now located on Riverside Drive, 85th and 86th streets, intends to erect a new building on a plot 359.10x125, which they have pui-cbased on 14th avenue, between 213th and 214th streelB. The trustees wiU hold a meeting iu the fall to elect a BuUding Committee, when au architect wiU be selected to di-aw the plans. Amongst the trustees are EUhu Chauncey, Chas. M. Kent, Lyman Rhoades, H. H. Cam¬ mann and Walter H. Lewis. Bishop Potter, Dr. Morgan Dix and Dr. GaUaudet are also on the board. The di-awings for an elevation for the new Manhattan Athletic Club were sent in on Thursday. Amongst the architects who were officiaUy invited to send iu plans, those who have i-esponded are Messi-s. H. J. Hardenbergh, J. C. Cady Se Co., W. Wheeler Smith, J. R. Thomas, F, H. KimbaU and Thayer & Robinson. We learn tbat thi-ee other architects have volunteered to send in plaus, aud that their designs are in the hands of the ofBcers of the club. Several meetings of the Budding Committee wiU take place at the club-house next week, and the decision as to tbe plan selected wiU probably be announced vrithin seven days. The committee requested aU the di-awings to be distinguished by noms de plume only, so that the selection should he made strictly ou its merits. Leo Schlesinger and Meyer Foster wiU build a six-story store-house on the comer of Houston and Crosby sti'eets, on the property formerly occu-