392





RECORD   AND   GUIDE





September 16, 1916





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PRIVATE REALTY SALES.

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"T^RADING was moderately active, a
•*■ fair deniand manifesting itself for
small investment properties. In spite of
the fact that there was no market in¬
crease in the volume of business trans¬
acted, a better spirit of optimism^ was
prevalent, and many important and inter¬
esting transactions were rumored to be
in course of negotiation.

One of the most important develop¬
ments within recent weeks concerned the
financing of the proposed Commodore
Hotel ai Lexington avenue and 42nd
street, as a result of which a $4,500,000
mortgage was placed. The release^ ol
such an enormous amount of money into
a single building project is being re¬
garded as highly significant inasmuch as
there has been a marked tendency on
the part of many builders to hold their
projects   in   abeyance.     There   has   been





within recent times an opinion based,
probably, upon actual knowledge of ex¬
isting conditions, that times were not
propitious for building, not_ only on ac¬
count of the prevailing high price of
materials, but also on account of labor
unrest in the building trades. The un¬
dertakings of this project, however, and
the similar status of the proposed hotel
of the Pennsylvania Railroad at Seventh
avenue and 32nd street, indicates a prob¬
able new trend and a revival of fall build¬
ing. Although individual projects even
of such magnitude cannot be quoted as
indicative of prevailing conditions, yet so
much money will be released into build¬
ing channels, and so many men will be
furnished with labor, that the projects
take a leading rank, and their import¬
ance to the fall building market should
not be underestimated.

The thirty-one story ofifice building
known as the Liberty Tower, at the
northwest corner of Nassau and
Liberty streets, on a plot 82 x 57.9 x ir-





Are you going

to let anything like this happen

on your elevator?

Several young girls have been killed and others injured on
elevators here in New York, by the car starting before the shaft-
way door was safely closed and locked.

The law didn't save them, for there is no law.

The lurking peril in unsafetilied shaftway doors causes over 85%
of all elevator tragedies.

Against it there is neither protection nor redress, in New York
City.

These girls had to ride, as part of their days' work. They
were entitled to the protection which they did not get.

Why was it withheld from them ?





Meanwhile,thought{u\, humane,and high minded own¬
ers (without legal coercion) are safetifying their elevator
shaftway doors.

We have already installed Shur-Loc on a number of ele¬
vators in New York, Brooklyn, Boston, Chicago and other
cities, where only moral law has worked the wonder—
proving that there are many real estate owners of lofty
principles who do not consider their responsibility limited
to financial compensation.

Shur-Loc was not designed nor developed for commercial pur¬
poses. It was conceived and perfected as a life conserver, and
awarded highest honors as such. The fact that you can
now have it installed on your elevator does not
lessen its assurance of 100% safety.

Quotations free.





Telephone 2254 Beekman, or write

SHUR-LOC ELEVATOR SAFETY CO., Inc.

706 Pulitzer Building





regular, was sold at foreclosure this
week, and was knocked down to parties
in the interest of the Garden City Com¬
pany, Allen W. Evarts, president, on a
single bid of $1,800,000. The auctioneer
was Daniel Greenwald. The sale was
brought about as a result of an action
commenced by the Title Guarantee &
Trust Company, as trustee, against the
Liberty-Nassau Building Company, and
others, to recover $704,525. There is a
prior m.ortgage of $1,600,000 on the
property.

By order of M. S. Guiterman, executor
of the estate of Charles Jacoby, L. J.
Phillips & Company will sell at auction
on October 5 the properties at 929 West
End avenue, 109 West 129th' street, and
141-143 West 113th street. The same
auctioneers will sell on that day by order
of Townsend & Guiterman, the four-
story  dwelling at  10  East 66th  street.





THE total number of sales reported,
and not recorded, in Manhattan this
week was 21, as against 17 last week
and 11a year ago.

The number of sales south of 59th
street was 2, as compared with 5 last
week and 4 a year ago.

The sales north of 59th street aggre¬
gated 19, as compared with 12 last week
and 7 a year ago.

From the Bronx 10 sales at private
contract were reported, as against 12 last
week and 7 a year ago.

Statistical tables, indicating the num¬
ber of recorded instruments, will be
found on page 400 of this issue.





Buys Costly Home Site.

Augustus G. Paine Jr., president of
the New York & Pennsylvania Paper
Company, has purchased from James A.
Frame, the two four-story houses at 105
and 107 East 70th street, forming a plot
43x100 feet, on which he intends to erect
for his own occupancy a high-class resi¬
dence. The plot is in the im.mediate
neighborhood of a number of costly pri¬
vate house projects, among them pro¬
posed residences for Arthur Curtiss
James, George Blumenthal, and Robert
S. Brewster. The adjoining house at No.
109, on a lot 20x100.5 feet, is also re¬
ported to have been sold, although it
could not be learned definitely whether
or not the purchaser was Mr. Paine.
Another interesting report concerned the
group of houses immediately adjoining
the site of Mr. Paine's proposed resi¬
dence, at the northeast corner of Park
avenue and 70th street, which it is under¬
stood is to furnish the site for a home
for Gerrish Milliken.





Broadway and Fulton Street Deal.

-A. new syndicate headed by Elias A.
Cohen has taken over from the liquidat¬
ing committee of the Borough Bank the
leasehold property at the southeast cor¬
ner of Broadway and Fulton street, for¬
merly occupied by the Evening Post.
The building is nine stories high, and
has a frontage of 62.8 feet on Broadway
and 102.4 feet in Fulton street. The
property is owned by the Collegiate Re¬
formed Dutch Church, and returns a
ground rent of $45,000 a year on a lease
which has twenty-one years to run. The
new lessees plan extensive alterations
including the installation of new ele¬
vators, heating system and the re-con¬
struction of the interior and e.xterior.





East   Side   Dwelling     Deals.

Eugene Meyer, Jr., the banker, has
sold the four four-story houses at 104-
110 East 71st street, on a plot 82.4 x 95
to Carl Tucker, who owns the adjoining
property at the southeast corner of Park
avenue and 70th street. Associated with
Mr. Tucker in the lease was Hiram W.
Sibley of Rochester, N. Y. The brokers
in the sale were the Douglas-Robinson,
Charles S. Brown Company. The plans
of the purchasers with reference to the
site were not available yesterday, al¬
though it was rumored that the easterly
30 feet was being resold to a well known
New York lawyer, who intends to build
a residence for his own occupancy.