Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 101, no. 2604: Articles]: February 9, 1918

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172 RECORD AND GUIDE February 9, 1918 PRIVATE REALTY SALES. Cutting Out Waste Circulation A PUBLICATION Avith a circulation of 300,000 charges you $300 per page insertion. That rate is hased upon the accepted rate of a dollar per page per thousand circulation. Bringing it down to units, it costs you one-tenth of a cent to deliver your message to evei-yone of the 300,000—provided every one of them reads it. » From the price standpoint that is undoubtedly the cheapest form of advertising in existence. From the price standpoint. But—if out of that 300,000 circu¬ lation, only 50,000 readers are pos¬ sible customers of yours, then no matter how much or how little those 50,000 may be worth to you, you are paying $250 to talk to 250,000 persons who are^ not possible cus¬ tomers. A waste of 250,000 in circulation— $250 expressed to Jericho! Furthermore, the interest of 300,- 000 persons who make up the cir¬ culation of a publication are bound to be widely scattered and it is most unlikely that anywhere near 50 000 of them will constitute a possible buying contingent for any but a very, very few advertisers. The RECORD AND GUIDE has an advantage over many publications in this respect: Advertisers desirous of reaching the buying power rep¬ resented by the closely affiliated building and real estate interests are assured of 100% fertile circulation. They have the advantage of a direct appeal for the attention of those who specify or buy materials that go into the buildings erected in New York. For 50 years the RECORD AND GUIDE has been the recognized great weekly newspaper and au¬ thority of the building and real es¬ tate fields of New York City and vicinity. Its readers represent the owners who build in this field—leading financial institutions who supply the capital necessary to build—archi¬ tects who design the buildings and specify the materials used—con¬ tractors who erect them and buy materials—brokers, agents and man¬ agers who put through the deal, rent the properties or manage them after erection. Unlike any other publications whose average life is but a day or thirty days at best, the RECORD AND GUIDE lives week after week for 52 weeks out of the year. The official records and information of vital interest contained in its col¬ umns are constantly referred to. As a reference medium, it is unsur¬ passed in the United States. In the RECORD AND GUIDE you send your story direct. Put your problem of getting your share of the $200,000,000 a year which is spent upon new construction, equipment and maintenance in New York di¬ rectly up to us. We can solve it. An efficient copy department is at your service without charge. ll^AJUi^^i^ (No. 12 of a contmtied series) IT HE total number of sales reported ■'■ and not recorded in Manhattan this week was 21 as against 25 last week and 28 a year ago. The number of sales south of 59th street was 7 as compared with 12 last week and 14 a year ago. The sales north of 59th street aggre¬ gate 14 as compared with 13 last week and 14 a year ago. From the Bronx 10 sales at private contract were reported as against 5 last week and 8 a year ago. Statistical tables, indicating the num¬ ber of recorded instruments, will be found on page 178 of this issue. Waldorf-Astoria Lease Sold. The Waldorf-Astoria Hotel lease has been sold by the Waldorf-Astoria Hotel Company, George C. Boldt, Jr., president, to a new company backed by General T. Coleman du Pont. General du Pont already controls the McAlpin and Clar- idge Hotels. He owns the Equitable Building, and has large financial in¬ terests in New York City. L. M. Boomer, manager of the Hotel McAlpin, will be president of the new operating company, and Walter H. Marshall, now the manager of the Hotel Vanderbilt, will become manager of the Waldorf. The estate of the late George C. Boldt will have an interest in the controlling company. The Waldorf-Astoria Com¬ pany, a year before Mr. Boldt's death, took a long-term lease on the property at a rental said to have been $1,000,000 a year. The Bellevue-Stratford in Phila¬ delphia, which is owned by the Boldt Estate, was not affected by the transac¬ tion. There will be no consolidation of the Waldorf-Astoria and the McAlpin Hotels. The Waldorf Hotel, at the corner of Fifth avenue and 34th street, was finished in 1893, and four years later the Astoria was completed, and then the two became known as the Waldorf-Astoria. The hotel has 1,385 bedrooms and 500 baths. Its value has been placed at $20,000,000, including the site. The Waldorf stands on the site of the one-time home of William Wal¬ dorf Astor, while the Astoria was erected on the site occupied for many years as a residence of William B. Astor. ' The ground was broken on November 1. 1890, and the hotel was opened for business on March 14, 1893. General du Pont was formerly the head of the E. I. du Pont de Nemours Powder Company, and still retains an interest in that business. When he retired from active management of the powder com¬ pany a few years ago he is said to have received cash and securities estimated to be worth more than $20,000,000. August Heckscher Adds to Holdings. August Heckscher added to his hold¬ ings by acquiring from Michael Dreicer the two buildings at 7 and 9 West 56th street. The properties formerly be¬ longed to Mr. Heckscher, who sold them in January. 1916, to Mr. Dreicer. He also owns the sites of the former homes of the late William C. Whitney and Charles W. Morse, now covered with a taxpayer buildine, having a frontage of 100.5 feet on Fifth avenue, and 152.6 feet in 57th street, extending through to 56th street, where the frontage has just been increased to 100 feet. Mr. Heckscher now controls a plot containing about 26,500 square feet. Sale on Lenox Hill. Edward W. Humphreys sold through Pease & Elliman, the vacant lot, 21 x 100, at 21 East 70th street, formerly a part of the site of Lenox Library, which was subdivided about seven years ago, and since improved v^ith residences. Among those who have erected homes in the block are Henry C. Frick, Dr. Walter James, Mrs, Henry D. Brookman and Alvin W. Krech. The new owner con¬ templates the improvement of the site with a dwelling for his own occupancy. The seller is reported to have paid $82,- 500 for the lot and he acquired it about six years ago. RECORD AND GUIDE IS IN ITS FIFTIETH YEAR OF CONTINUOUS PUBLICATION.