Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 63, no. 1621: April 8, 1899

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6i8 Record and Guide April 8, 1899. dentlal or business occupancy. The buying of private houses con¬ tinues to be a prominent feature of the market, and in some sec¬ tions, especially the older, as. for example. Lenox Hill, the supply is In'-'iiicient to meet the demand. A suggestive tranLaction was the sale, by J. Romalne Brown & Co., of a plot of four lots at the southwest corner of Broadway and lOSth street. Though a most desirable business site, the plot has remained vacant, because of a defect in the title to the imme¬ diate corner, which lies in the bed of the old Bloomingdale road. This defect in the title was cured last year. A triangular struc¬ ture, ahout 8x5x12. covers the sometime no-man's-land on the corner. It is a fact well known to title searchers that the courses of many vanished and unrecorded roads and country lanes may be traced through the city by just such shabby structures as the one in question, or by old houses hidden awaj m the interior of city blocks. Indeed, an interesting article might be written on Buried Villages in New Tork City. For example, near the in¬ tersection of the Bloomingdale road with 98th street, a group of old wooden houses lies buried in the heart of a city block. It is understood that the lOSth street plot, sold this week, will be im¬ proved at once, although the buyer's name Is withheld. A plot at the southwest corner of Broadway and 101st street, purchased by H. Dongan, will be improved with a 7-story fireproof apart¬ ment house. The tremendous bunding movement sweeping up what was formerly the Boulevard, is marveled at by laymen, but Is sufficiently accounted for by the development of the trolley ser¬ vice, and the low plane of values on which years of neglect have left the Boulevard lots. Boulevard sites are proportionately cheaper than land in the side streets. At the Eno sale in Febru¬ ary a single lot in 114th street brought ¥12,100, while an inside plot in the Boulevard, between 112th and 113th streets, sold at the rate of $14,000 per lot. The other nol.able sales of the week were of lots in upper .5th avenue and Central Park, West, the real estate movement in both of which avenues has recently been dis¬ cussed In this column. The total number of transactions reported below is 63, with con¬ siderations given in 5, and amounting to $407,000. Correspond¬ ing figures for last week were, 74, 17 and $2,189,900. respectively. This week, viewed superficially and apart from the recent past, would hardly produce a favorable impression of the condition of the auction market. Many of the-properties offered at voluntary sale were withdrawn or bid in, and in the auctions at foreclosure plaintiffs figured conspicuously among the buyers. Any unfavora¬ ble conclusions drawn from these circumstances, however, will be quickly dispelled by a closer examination of the list of offerings. It is a long time since so many holdings undesirable from an in¬ vestment point of view have been put under the hammer in the Real Estate Salesroom in one week. The activity in the auction market, which is greater than it has been in years. Is confined to property adapted for speculative improvement and to property in the secure possession of a reasonable rent roll. During the past three months, as will be seen from a summary published in an¬ other column, treble as much real estate, measured in money value, has been sold at voluntary auction as during the corre¬ sponding period last year. The present week, despite the unin¬ viting character of the list as a whole, realty aggregating $1,200,- 000 was disposed of, chiefly residential housing and vacant lots in localities where rents or prospective proflts from specula¬ tive building are good. Chas. A. Berrian sold a plot on the cor¬ ner of Webster avenue and 19oth street at good prices; it was only last week that the same auctioneer successfully conducted the partition sale for the Daniel Valentine estate, at which $92,- 950 was realized from lots in the same neighborhood. Popular interest, however, was fixed on the sale for the heirs of Maurice O'Brien by Philip A, Smyth; the dissolution saie for O'Reilly, Skelly Se Fogarty. by William M. Ryan, and the auctions at fore¬ closure of the 12-story store and loft building at Nos, Go to 69 Bleecker street and the Morse Building, at Nos. 138 to 142 Nas¬ sau street, by John N. Golding and Geo, R. Read, respectively. The sale of the Morse Buiiding was adjourned to April 26, while the Bleecker street house was sold to one of the parties in interest. The structure stands upon the site of the old Bank for Savings, which several years ago moved to 4th avenue, and subsequently sold its Bleecker street property, 33.6 feet front and 100 feet deep, to the Union Loan and Investment Company, which put up the new building. The bank took back a mortgage as part of the pur¬ chase money. This week's sale was held under a judgment in favor of the bank for $321,OOS, preceding which there was a claim for $1,306 unpaid taxes. The property was bought at $327,000 by Charles W, Rice, representing the Perth Amboy Terra Cotta Company, which had furnished material for the building. This sale wipes out about $150,000 in subsequent liens for materials supplied. The O'Reilly, Skelly & Fogarty properties, consisting of a brewery, stables, distillery, factory and tenements and stores in 14th, 15th, 19th and 20th streets, west of 7th avenue, went to Hugh O'Reilly and his partner John Fogarty, individually. The offering for the heii-s of Maurice O'Brien consisted of eleven flats, one dwelling and one lot in Harlem, besides some unimportant holdings in Bayonne, N. J. All the New Tork parcels, except one, were bid in. This sale merely repeats on a larger scale an issue witnessed at many smaller auctions, for Harlem flats are decided¬ ly out of favor with the professional element, at least, in the auc¬ tion room. Richard V. Harnett & Co. announce In our business pages, for Tuesday next, llth inst., the sale by auction of Nos. 504 and 506 West 24th street (leaseholds) and Nos. 17. 19 and 21 Watt street,- 5-story tenements. Particulars will be found on another page^ and maps, etc., can be had at the office of the auctioneers, Nos. 71 and 73 Liberty street. Bryan L. Kennelly has in our business pages a miscellaneous- bill of OfEerings for the coming and following week, to which at¬ tention is directed. The list includes vacant, dwelling, tenement, flat and business parcels variously located, and it will doubtless^ repay attentive perusal on the part of intending buyers. Terms of sale, dimensions, locations and descriptions of improve¬ ments are given in the auctioneer's advertisement, and he will furnish all further information desired, with maps, etc., at his office at No. 66 Liberty street. William M. Ryan will conduct the auction sale on Wednesday next, the 12th inst., of three valuable Greenwich street business parcels, and an Amsterdam avenue apartment house, of which he gives notice in our business pages, and to which investing readers are recommended to turn. The sale is by order of the executors of the late Wm. Henry Hall, and the terms include mortgages of 75 per cent, of purchase money. The auctioneer's office, where additional information and maps may be had. is at No. Ill Broad¬ way. William ivennelly's auction offerings for the coming week in¬ clude the two 5-story apartment houses. No. 121 East SSth street and No. 1919 Second avenue, which, as will be seen in the auc¬ tioneer's advertisement on anotherpage, are recommended as in¬ vestment parcels. They will be sold on Tuesday next, and on the same day the dwelling. No. 237 East SOth street, will also be sold. On the following day, Mr. Kennelly will offer 23 Bronx lots which are ready for improvement. For fuller information, the adver¬ tisement mentioned or the auctioneer at No. Ill Broadway should foe consulted. The Amos R. Eno estate's second offering of investment realty in Manhattan will take place Wednesday next, 12th inst, through Peter F. Meyer, auctioneer, A list of the parcels to be offered' will be found in our business pages. Those who peruse this list, and no one looking for investment realty purchases will fail to do go, will see that it contains nothing that is not good from one point of view or another. The celebrated triangle at 23d street is, naturally, the one that raises most expectations, but even without that, the sale could not fail to be a notable one. Those- who have not already supplied themselves with book-maps of the sale can do so by applying to the auctioneer at No, 111 Broadway. L. J. Phillips & Co. announce in our business pages the auction- sale, by order of executors, of the dwelling. No. 24 West 45th street, on Tuesday next, llth inst. M. S. & I. S. Isaacs, attor¬ neys, No. 27 Pine street, and the auctioneers, at No. 158 Broad¬ way, will supply particulars. AT THB GATEWAT OF THB BRONX. In view of the rapid development that the Bronx is undergoing, the Lawrence Estate sale, that will be conducted by Peter F. Meyer on Tuesday next, llth inst., is one of the most Important of the season. Part of the property to be sold is the block bounded by 3d and Lincoln avenues. Southern Boulevard and the Harlem River, and is therefore at the gateway for the immense traflic be¬ tween Manhattan and the Bronx. The included water front and' bulkheads make this property especially valuable for receiving and shipping by water. Another important parcel included in this sale is the bicycle academy on the southwest corner of Broad¬ way (Boulevard) and 60th street. A mird parcel is the 3-story and basement dwelling with staole No. 178 East 73d street. Will¬ iam C. Orr, attorney for the executor. No. 51 Chambers street, and' the auction er. No. Ill Broadway, will supply maps and par¬ ticulars. Gossip of the Week. SOUTH OF 5DTH STREET. 22d St., No. 246 West, old building, 25x98.9; seller. Robt. W. Tailer, executor; buyer, Joseph L. Buttenweiser; broker, N. Brig¬ ham Hall. Lewis st. No. 203, near Oth st, 4-sty building, 22.10x70; seller,. Joseph W. Hawkes; buyer. A. Gottlieb; broker, John Peters, Grand st, Nos. 415y2, 417. near Clinton st, old buildings. 26.8x1 100; sellers. J. H. Bennett & Bros.; buyers, Jackson & Stern. 2d st. No. 336, old buildings, 24.9x106; seller, Sussman Rein¬ hardt; buyers, Jackson & Stern. 49th st north side, 50th st south side, 125 feet west of Park av, plot 75x200, with old buildings; sellers. University Real Estate Co.; buyer, Charles Buek; brokers, Greene & Taylor. Price, $150,000. 45th st. No. 54 West, 3-sty dwelling, 20x55x100.5; seller, F. G. Garretson; brokers. W. B. Taylor Se Sons, This property ad¬ joins No, 52, which was bought last week by Samuel F, Burns,, who is reported to be the buyer now. 5th st, Nos. 810 to S18 East, old buildings, 116x96; sellers, Sei¬ igman & Ellinger.