How to update folder properties based on content type using REST in C# console app?

I have a document library,say People, with a custom content type (MyCustomType) with fields Location, Cost .This library has a folder say X . X has a subfolder Y. Y has 3 subfolders z1,z2,z3 at the same level.

I want to update the Location and Cost field for the folders X,Y,Z1,Z2,Z3 using REST in a C# console application. The examples I see on the net use CSOM. Can someone show the way to do this in C#.

The code I currently have is

Uri uri=new Uri("http://siteurl/People/X) ;//updating the folder X's properties first

HttpWebRequest re=(HttpWebRequest) WebRequest.Create(uri);

re.Credentials=CredentialCache.DefaultNetworkCredentials;

re.Method="POST";

re.Accept="application/json;odata=verbose";

re.Headers.Add("IF-MATCH","*");

re.Headers.Add("X-RequestDigest",GetFormDigest());

string data="{'__metadata':{'type':'SP.Folder'},'Location':"xyz'}";

re.ContentLength=data.length;

StreamWriter wr=new StreamWriter(re.GetRequestStream());

wr.write(data);

wr.Flush();

WebResponse rs=re.GetResponse();

using (StreamReader sr=new StreamReader(rs.GetResponseStream())

{

string result=st.ReadToEnd();

}

Pls ignore any typos. When I run above code, I get "bad request".