Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 104, no. 1: Articles]: July 5, 1919

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July S, 1919 Investing Company, Robert E. Dowling, presi¬ dent, through the Broad and Beaver Street Company, 3S to 46 Beaver street and 8 South WUliam street, adjoining . the Consolidated Stock Exchange, six four-story buildings, front¬ ing about 100 feet in Beaver street and 25 feet in South William street, with an irregular depth. The buyer intends to have the George A. Fuller Construction Company erect a 1^- story office building from designs by Warren Sc Wetmore, architects, to be ready for occupancy in May, 1920. Douglas Grant Scott was the broker. Dwight & Hillis Buy Again. Dwight & Hillis have increased the size of the plot recently purchased by them on Will¬ iam and John streets by the purchase of 81 John street, a four-story building having a frontage of 2T feet and a depth of 100.5, which gives the buyer a plot of 10,000 square feet, running from William to John street. The property is adjacent to the site recently ac¬ quired by the Merchants Assurance Corpora¬ tion, More Land for Federal Reserve, The Federal Reserve Bank has added an¬ other important parcel to tbe site for its pro¬ posed improvement with the acquisition of title to the four-story building occupied by Horace S. Ely Sc Co. at 21 Liberty street, through to 60 Maiden lane, for a stated consideration of $200,000. This property, 21.9x88.1:, irregular, gives the bank control of the entire block bounded by Maiden lane, Nassau. William and Liberty streets, with the exception of the eight- story Montauk Building fronting on William ^ street. Paterno Buys Apartment Site. Anthony A. Paterno. preisident of the 22o West Seventy-first Street Corporation, has purchased ■ through Earle Sc Calhoun, a plot. 66,8x102.2, on tbe north side of 71st street, between Broadway and West End avenue, comprising 221, 22S, 22o and 227 West 71st street. Four S-story dwell¬ ings occupy the site, which is located between Christ Church at the Broadway corner and the Lucania apartments at 281 West Tlst street. Mr. Paterno will erect a 9-sty elevator apart¬ ment house, with four apartments on a floor, consisting of three, four and five rooms, with one and two baths. It is expected that con¬ struction will be started in a short time. The building is to be completed in time for spring renting. Importers Buy 72 Trinity Place. Frazar & Co., exporters and importers, have purchased the 6-sty Trinity Court Building at 72 to 70 Trinity place, between Rector and Thames street and just back of Trinity Church, The purchase was made from the Alliance Real¬ ty Co. Frazar Sc Co.. who are now located at SO Church street, will occupy space in the building as fast as it becomes available and will use the structure, which has a frontage of 104 feet and an irregular depth, as the home of¬ fice. Ultimately, it is understood, the firm will erect a m-^re modern building on the site> Brooks Sc Momard were the brokers. $1,200,000 Broadway Deal. Henry Claman. president of the Forty-eighth Street Co., purchased from the Japanese Fan Co. the four .5-story fiats, 102x100, at 2333 to 2S39 Broadway, southwest corner of S'->th street, and upon expiration of existing leases intends to improve the plot witb a 14-stary apartment from designs now being prepared by Gronenberg Sc Leuchtag architects. The entire operation involvcr^ more than Sl.200,000. The Herman Arns Co. was the broker. Resell Hague Dwellings. Harris and Maurice Mandelbaum resold thp Hague Dwellings, a 7-story apartment house at 547 Riverside drive. 220 feet south of 127th street. lOOxlOO, to Samuel Wacht, through Wil¬ liam S, Baker, The same broker resold the property for Mr. Wacht to an investor and it is reported tbat a third resale is pending. About a month ago the Messrs. Mandelbaum acquired the property from the Sussex Holding Co., Geo. V, Allison, attornev. The house has a rent roll of about $22,000 a year. "Adlon" in $2,000,000 Trade, Bing Sc Bin^ have jjurchased from Robert E. Simon the Adlons, two 13-story apartment houses at southwest corner of 7th avenue and n4th street, the corner building on plot 100x100 and the inside building on 7th avenue on plot 50x100. The property shows an annual rental of approximately $21f^,000. and was held by Mr. Simon at Sl.-iOO.OOO. Mr, Simon acquired these buildings a short time ago from the builders, the Adlon Construc¬ tion Co., J. C. Graef, president, and now re¬ sells at a substantial profit. This section of 7th avenue on which these bouses are located has attracted considerable attention since the purchase of the blocks 55. 56, 7th avenue to Broadway, as a site for the New Commodore Hotel, and the new station of the 7th avenue subway is within one block of this property. In addition to cash, Bing Sc Bing gave in pay¬ ment the Belvedere, at tbe southwest corner of Edgecombe avenue and 150th street, a C-story elevator apartment on plot 100x100, showing a rental of 1^30,000. The property was held at RECORD AND GUIDE $325,000. They also gave in exchange the south¬ east corner of Lexington and 51st street, a sub¬ way corner adjoining the Lexington Opera House, a one story taxpayer on lot 50x100 and held at $125,000. Leitner, Brener Sc Starr, and N, Wilson, were the brokers. The Belvedere was later resold, through tbe same brokers, to Frederick Brown. Buyer for Brevoort Home. The original Brevoort mansion at 24 Sth avenue, northeast corner of 9th street, now the home of Charlie de Rham, has been sold to George F. Baker, Jr., vice-president of the First National Bank. The property measures 02.4x 126 feet. The house was built by the late Henry Brevoort, who was Mrs. Baker's great-grand¬ father, in 1834, and it will now revert to his his direct descendants in the fifth generation. Mr. de Rham _acquired the property from Mr, Brevoort in 18^)0, and it has been continuously occupied by his family since that time. Newton Rae, of Worthington Whitehouse, Inc., was the broker. 13 Insurance Company hold a mortgage for $1,- 250,000 on the property, which, it is said, runs for ten years. The houses were built about five years ago by Newmark & Davis, Deal Closed by Cable. Greenfeld & Safiir sold for Louis Marshall to the Silbo Realty Corporation the two 5-story apartment houses on plot 67x100 at 14-16 West 117th street. The property was held at $75,000 and was acquired by Mr, Marshall about a year ago. One of the interesting features of this deal is the fact that all negotiations took place by cable due to Mr, Marshall's presence at the Peace Conference in Paris, as the president of the combined Jewish Committees of the World. Rumored Drive Deal, The two 12-story apartment houses' on River¬ side Drive^ occupying the block front between 141st and 142d streets, have been sold in a cash transaction, according to report. The struc¬ tures occupy a combined frontage of 204 feet on Riverside Drive. ISO feet on 141st street and 14H,9 feet on 142d street, with a westerly line measuring 109.10 feet. The Metropolitan Life Manhattan. South of 59th Street. DUANE ST.—Wm. A, White & Sons have sold for Elkan Naumburg to a client the property, 25x60, at, the southease corner of Duane and Greenwich sts, in the butter and- egg district. This is the first sale of the property in thirty- five years. The premises have been occupied by the same tenants for twenty-seven years. GREENWICH ST.—Wm. A. White & Sons sold for Charles k. Ruffer to a client the north¬ west corner of Greenwich and Duane sts, 20x50 ft. This is diagonally opposite the corner sold hy the same brokers a few days ago and is the third Greenwich st corner in that vicinity re- C'"ntly sold. »e Luxe'* II m pt*ovetnen£s Wire -yotir Property NOW! ./L^. r^v^ To Lei iiriidiiiii 75,000 Atiarimexute for YOUR Tenanis THE Department of Labor estimates that75,000 apart¬ ments will have to be built before New York's housing condi¬ tions return to normal. Today even the most out of date and un¬ improved dwellings are occupied —occupied by people who can find nowhere else to live. But Manhattan's shifting pop¬ ulation is soon to undergo its greatest upheaval — fhe era of moving days ushered in by the erection of these 75,000 apart¬ ments. The first to move will be the tenants of old, unimproved buildings, To insure themselves against a return to the old days when un¬ improved dwelling places went begging for tenants, farsighted landlords are now making their properties more desirable as Hving places. Electric service is the first im¬ provement installed. Nothing else can add like comfort to the home. Without it families are deprived of such necessities as electric irons, fans, cooking de¬ vices and vacuum cleaners- Apartment halls are vastly im¬ proved by electric service. Uni¬ form light, convenience of control, the elimination of bell-ringing and door-openingbatteriesandthesub- stitution therefor of small trans¬ formers operated from the lighting circuit, are some of itsadvantages- A postal-card or telephone re¬ quest (Stuyvesant 4980) will bring our representative to you. He will tell you how inexpensively and easily your property can be electrified- And if the investment involves a greater immediate ex¬ penditure than is convenient, we may be able to arrange terms. ^e UNITED EWCTRIC UGHX & POWISR COMR^NY 150 £ast tSttk. S±a?e&±, Xe>iVXoi«k.