ns
Record and Guide,
May 26, 1889
connection -with the organization of the Exchange. Mr, Ludlow was
admired for his thorough knowledge, technical and practical, of his
department of thought and action, honored for his absolute integrity in
pubhc and private life, and loved for his kindly disposition and gentle
bearing.
He assumed the dufcy of securing the co-operation of brokers, auctioneers
and owners, in the foundation of this institution. It was the first expres¬
sion of a desire to combine real estate interests for the common good. The
idea that citizens engaged in tbe several avocations connected with the
sale and management of real property should concentrate their energies
upon the orderly direction of affairs was appai-ently novel and startling,
and hut for the persistence of Mr. Ludlow and oue or two of his associates
would not bave gained acceptance.
I do not imagine that the Exchange has attained perfection; it is pros¬
perous and successful; it is advancing steadily upou the lines originaDy
laid down, crystalizing sentiment among real estate men, demanding fair
dealing in transactions, urging and aiding public improvements aud
economical admimstration, I wish its power were more clearly appre¬
hended in compehmgthe adoption of a system of rapid transit—the vital
problem which New York must speedily solve.
Upon us, the members of the Exchange, devolves the responsibility of
maintaining its dignity and its right to recognition. Mr. Ludlow's genial
face beaming upon us, as with approval, is a perpetual reminder.
In the name of thoj Exchange 1 cordially thank the donors of this por¬
trait for then- valued and appropriate gift. (Applause.)
The chairman read the foUowing telegram from Presidenfc Cruikshank,
who is in the Adu-ondacks for bis health;
I sincerely regret that eh-cumstances prevent my attendance at the
acceptance of the portrait of the late Mr. E. H. Ludlow, our fli-st presideut.
Permit me to join in spirit iu the welcome accorded to it, recalling, as it
does, his high character and standing, and his services in behalf of the
Exchange.
The Chairman called upon Messrs. Geo, H. Scott and Richard V, Har¬
nett, both of whom rose to pay a tribute of appreciation to the services
rendered hy Mr. Ludlow in the organization of the Exchange,
Of the thu-teen origmal directors, Messrs. E. H. Ludlow, Isaac Honig,
John H. Sherwood, Leopold Fi'iedman and D. G. Croly are dead, the
others beiug Messrs. E. A. Cruikshank, H, ;H, Cammann, Richard V".
Harnett, S. Van Rensselaer Cruger, Geo. H. Scott, S. F, Jayne, Albert
BeUamy and James Stokes.
Important Buildings Under Way.
SOUTH OF 14th street.
This will he an active building year in the down-town business districts.
Yeai' after year theolder buildiugs are demolished to make way for stately
structures such as our grandfathers never dreamed of. This year the
quota is a fidl one, as will be seen from the bst of the principal buildings
for which plans have been flled since January 1, with other buildiugs under
way, as described below.
The Mechanics' National Bank is tearing down tbe structure adjoining
the Drexel building, and will build a nine-story offlce building on the site.
It will cover Nos. al and 'SH Wall street and have a frontage of 43.3% feet
with a depth of 106,8 feet. It will have two elevators and will he fu-e-proof.
The front will he of Indiana Umestone, with the exception of the two first
floors, which wUl be iu granite. The contractor for the entire work is
David H. King, Jr. The architect, Charles W. Clinton, estimates the cost
at SHOOjOOO. The building is to be ready next May, and the hank wdl
occupy the fii-st floor.
The Farmers' Loan and Trust Company are erecting au eight-story office
structure on the site of then- preseut quarters. They have not vacated
the smaU bmlding which they put up ou the spot, and will transact busi¬
ness continuously during the erection of tbe new structure, in the same
maimer as thiugs were done iu the Times buUding, though the problem,
whUe of a similar character, wiU not be as complex. It will have a front¬
age of 80.5 and a rear width of 92.8, witb a depth of 70.(i. It will be fli-e-
proof and will have two elefators on the tViUiam street side. David H.
King, Jr., has received the contract for the entire work; C, W, Chnton is
the architect, and the cost is estimated at §i25,000,
Nassau street is also undergoing a sUght change, but the inroads made
upon that narrow and busy thoroughfare are compai-atively shght. Tha
old buiidings on the weU-knowu southeast corner of Fulton street have
been torn down, as far south as the Uttle structui-e where De Witt, Lock-
man & De Witt have their offlces. In theh" place a six-story office buUding
is to be erected, from plaus by De Lemos & Cordes, It wiU be of the
Renaissance order and wiU be 31.2x51 in size. The flrst floor aud basement
wiU be of granite, and the floors above of brick, h-ou and terra cotta. It
wiUhavea passenger and freight elevator, steam heat, electric hght, etc., and
the flrst floor wUl be used as a caf6 and restaurant by tbe owner, Frank
Raub, who also has a somewhat similar place iu the buUdiug adjoimng the
Brooklyn Bridge to the east. Tbe contractors selected thus far are: Messrs,
List & Lennon, masons; T. J. Duffy, carpenter; and Cook & Radley, iron
work. Excavations are about commencing, aud the buildiug wih be
completed in the fall. The cost is estimated at §80,000.
Further north, at Nos. liy aud 121 Nassau street, opposite the Press
Cluh, the old Clapp biulding is being demolished to make way for a ten-story
fire-proof offlce building, to be built for Eugene KeUy, the well-knowu
hanker, as an addition to Temple Court. It runs through to Theatre
alley, aud will be a first-class offiee structure. It wiU cost upward of
$200,000. The front wiU be of a limestone from Balinasloe, Ireland, and
the design wiU have a tendency toward the Romanesque. The principal
contractoi-s are : John Keleher, niason work, iucluding fire-proofing; Post
& McCord, ironwork; Wm, Brennan, stono work; and E. F. Haight,
carpentry.
Nothing definite seems to have heen decided upou as to the details of the
new World building, to be erected by Joseph PuUtzer on the northeast
comer of Park row and Fraukfort street, Geo. B. Post is to be tbe
architect.
Taking a run north of the City HaU, we find the buildiug at No. 337
Broadway, near Worth street, being torn down, to make way for a six-
story brick, stoue aud u-on front buUding, to be erected for Cora M. Bram-
weU and Myra Moffat, two ladies who are said to be worth mauy milhons.
It wiU have a frontage of 27.4 feet, and a depth of 13G.llon one side and
120,11 on the other. It wUl have a store on the first floor and offices
above, while it wiU have a freight and passenger elevator. The contract
for the entire work has been awarded to CorneUus CaUahan. S. A.
Warner, the architect, estimates the cost at §85,000, and expects to have
the building finished by January,
Another buUding, of a similar character, to be five stories high, and to
be divided into two attached buildings, covering a frontage of 60x90 and
IOO, is being bmlt by Bernard S. Levy, at Nos, 9 to 13 Walker streefc, near
Broadway, The first fioors wUl he used for store purposes, and the fioors
above for lofts. They wiU have a freight elevator, and escellent light.
They are now up to the first tier of beams, and will be ready for next
February's renting niarket. The fronts wiU be of brick, stone aud iron.
The cost is estimated at SSO,000.
The largest and costliest building under way in the city at this moment
is beiug buUt fcr Chas. Broadway Rouss, on a plot of ground covering Nos.
549 to 553 Broadway and Nos. 130 to 124 Mercer street. It is to be 73.10x
20O.3in size, ten stories high aud flre-proof, and the cost is estimated by
the architect, Alfred Zucker, at about §700,000. It will have six elevators,
two passenger, two freight aud two sidewalk, Mr. Rouss contemplates
using tbis mammoth buUding solely for the pm-po3es of his business. He
anticipates tbat it wUl give him faeihties that will enable him to double,
if not treble, his present business. Tbe flrst and second stories on the
Broadway side wiU he of granite, with stone aud architectural iron above,
whUe the Mercer street side wiU be of pressed brick, terra cotta aud blue-
stone, Tbe buUding is uow up to the third tier of beams ou tbe south side,
while ou tbe north s^de it is partly up to ths second tier aud partly under¬
pinned. It is to be ready by about January, 189U. The principal eon-
tractors selected are; Ed. Franke, mason; GUlis & Geoghegau, steam
heating; the Jackson Architeefcurallron Works, iron.
Going further north it is seen that Bleecker street, both east and west of
Broadway, is the ceutre of quite some buUding activity. Indeed, Bleecker
street is beconUng a more important business thoroughfare yeai- by year.
The Manhattan Savings Institution is erecting an eight-story and basement
buUding on the northeast corner of Broadway. It wiU have a frontage of
53.3 ou the main thoroughfare and 138 feet on Bleecker street. The front
will be of Lake Superior red sandstone up to the secoud story cornice,
above which it will be of stone, pressed brick and terra cotta. The bank
wiU occupy the first floor and basement, and the balance will be rented out
as lofts. It wiU have three elevators, two passenger aud oue freight, and
will cost about 8300,000. The principal contractors are: Moran & Arm¬
strong, masons; James W. Elgar, carpenter; Cheney & Hewlett, u-on;
Rutzler & Blake, steam*_heating, and Michael Smith, plumber. The foun¬
dations are now being commenced, aud ths building wiU be ready for
occupancy ou May 1 next. S. D. Hatch is the architect.
A Bix-story cellar and sub-cellar warehouse is being buUt afc Nos. 97 and
99 Bleecker street, west of Mercer sti-eet, for Isaac and Henry Meinhard,
froraplansby Alfred Zucker. It will he 5U.4xl2S.4 in size, aud the front
WiD he of Long Meadow stone, iron and terra cotta. It wUI have three
elevators, one passenger, one freight and one sidewalk. Tbe firstfloor wiU
be used for store purposes and the floors ahove as lofts. The buUding is to
be ready hy next January. The principal contractors are: A. Van Dolsen
& Son, masons; McGuire & Sloane, carpenters; The Jackson Architectm-al
Iron Works, iron; Baker, Smith & Co., steam heat, aud McAdams & Cart¬
wright, elevators. The buildiug wUl cost about §150,000.
Another six-story brick (iron aud stone front) warehouse is being built
at Nos. 98 aud 100 Bleecker street, covering also No. 170 Greene street and
No. 197 Mercer street, for Rachel, wife of Theodore Cohufeld. It wiU
contain four elevators—two freight, oue passenger and one sidewalk, with
provision for a fifth elevator. Tbe first floor will be used for stores aud
the floors above for warehouse purposes. Tbe building wUl be unusuaUy
valuable, owing to its having access to three important business streets.
The architect, Alfred Zucker, expects to have it ready for occupaucy by
Jauuary, 1890. Tbe masou selected is Wm. H. Arnott, and the carpenter,
James W. Elgar, while tbe Jackson Architectural Works will do the iron¬
work. The buUding wUl cost about £260,000.
Another warehouse is being commenced at Nos. 79 and 81 Wooster street
and Nos, 151 and 153 South 5th avenue, by Jacob Lorillard, tinistee. The
buUding will be 55x200 in size, and wUl only cost $75,000, so the architects,
J. B. Snook & Sons, state. It wiU be a plain buUdiug, and will have pas¬
senger and freight elevators and a dumb-waiter. The flrst fioor will be
used for stores, and tbe floors above for lofts. The main contractors are:
Samuel R. Acker, masou; O. T. Mackey, carpenter; J, B. & J. M. CorneU,
irou work, and Otis Bros., elevators.
A six-story store aud loft buUding is to be commenced at once on the
southwest comer of Mercer and 3d streets. ItwUl be 80 aud lOOxlOO in
size, and is to be erected for Isabella C. May, of Washiugton, D, C, from
plans by McKim, Mead & White. The front wih be of brick, stone aud
terra cotta, and the cost is estimated at §150,000. J. J. Tucker is the
mason and J. C.Hoe's Sons the carpenters. Tbe buUdiug will havea freight
and passenger elevator. The old structures on the sit© are now being
demolished to make way for the new one, which wiU he finished some time
in the fall.
Flans were filed for a buUdiug to be erected by Henry Maillard on the
northeast comer of University place and 9th street, to cost 190,000, from
plans by J. E. Wai-e. No signs of tearing down are to be seen ou the spot,
aud upon inquiry it is learned that the improvement is postponed till
next year.
Bond street is likely to become an important business street later on.
A few changes have been made in its character recently. Another improve¬
ment is to be added in the shape of a seven-story brick and stoue buildiug,
which is to be erected at Nos. 42 and 44 Bond street, for Morris B. Baer,
from plans by Buchman & Deisler, It is to cover a plot 52x95, and wiU
cost between §50,000 and «00,000.
The MercantUe Library Association have resolved to erect a flre-proof
library on the site of their present quai-ters, at No. 19 Astor place, which
wUl be torn down nest May to make way for the improvement. The