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Real estate record and builders' guide: v, 87, no. 2246: April 1, 1911

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April r, 1911. RECORD AND GUIDE 599 i PRiVAIE REALTY SALES | SOUTH Ob syni .sriiKEr. BEEKMAN -PL.—Aaron Goodman sold the 5-sty tenement house 6 Beekman pl, on a lot 20.\10U, to Mrs. L. Rohrer. BARROW ST,—Joseph F. Lay sold for Alfred Chirney to Edward J, Healy, Jr,. 40 Barrow st. a 3-sty dwebing, on lot 22.6x07. The buyer owns the adjoining house. No. 42, Big Deal at Key St. and Uroatlway. DEi'' ST.—lhe southwest corner of Broadway and Dey st figured this week in a real estate transaction aggregating more than $3,000,000. or, in its entirety, reaching nearly $S,0O0.U0O. The properly was sold by the Broadway.-Dey Street Really Co. to an unideiicified buyer, rep¬ resented by the law flrm of Masten & Nicholas for $1.500,0UO. through the Doug.as Robinson, Charles S. Brown Co. This brokerage firm also closed for the new owners a lease for 21 years, with Lhree renewals—or a total term of 84 years—at a I'ental said to he on a basis somewhat higher than 5 per cent. This would mean an annual rental of $75,000 a year, $1,575,000 for 21 years, and over $0,000,000 for the entire term. The buyer is said to be a foreign investor. The new lessee is a corporation, formed for the specific purpose of leasing the building. This lease is subject to existing leases, the most important of which is that af¬ fecting the corner store and basement which was recently leased Lo the Riker- llegeman Corporation at $30.OUO a year, with a profit-sharing agreement. The Dey st property was bought in 1906 by the City Investing Co., of which Robert E. Dowling is president, for $l,0O0.UOO, The seller was the Mercantile National Bank, which had just moved across the street to leased quarters in the Western Union Building, Title was taken by the present holder, a subsidiary corporation of the City Investing Co. Last year about $50,- UOO was spent in converting the two old- fashioned 5-sty buildings into a modern 6-sty structure. The site is 46x100.7. The selling price in 1900 was at the rate of $217 a square foot, a record at that time, GREENWICH ST.—Charles J, Brady and Harry White resold for I, M. Madden to Louis Emerich 006 Greenwich st. a 3- sty building, on lot 20x70. between Chris¬ topher and West 10th sts, Large Piofit iu Quick Resale. MANGIN ST,—The Rudolph Wallach Co. resold, through Charles Buermami Se Co., to Theodore Connolly, 123 to 135 Mangin st, a 5-sty loft building, on plot 155.7x100, about 70 feet north of Stanton St. The seller bought the property at auction on Tuesday for $36,000 at the stand of Joseph P. Day and now resells it for $41,000. ST. MARK'S PL.— Central Trust Co, bought from Herbert A. Weeks and others IS St. Mark's pl. a 4-sLy building, on a iot 20x119,10. Tv'ATER ST.—The Charles F. Noyes Co. sold for Henry Leerburger to an investor 235 Water st, a 5-sty loft building with an elevator, on lot 10,0x75, The building is under lease to E. E, Androvette. WHITE ST.—The Lorillard estate sold 134 and 136 White st, northwest corner of Baxter st, old 3-sty buildings, on plot 44,2x99xl0x irregular. This property has been in the possession cf the Lorillard family for over half a century. 7TH ST.—The Seventh Street Methodist Episcopal Church sold 22 and 24 East 7th St. a brick church and parsonage, on plot 94x90,10, adjoining the southeast cor¬ ner of Hall pl. The church has been con¬ solidated with the 1-Iedding Methodist Episcopal Church and will worship at the latter's edifice at 337 to 341 East 17th st. 15TH ST.—Mary L. Kanning, of St. James. L, I,, sold 152 West i5th st, a :!- sty and basement dwelling on lot 20x103,3. The buyer is said to be an adjoining own¬ er. John B. Quintin owns 151, which he acquired about a month ago. He also owns 150. On the other side Morris Wein¬ stein recently acquired 150, J. Romaine Brown & Co. were the broker's. 19TH ST.—P. L. Curry sold for M. V. Ferris & Co, to Patrick Kirk 411 West 10th st, a 3-sty dwelling. 2_1ST ST.—The Realty Holding Co. bought from Mrs. Louisa C. Schaefer through A, M, Cudner 40 East 21st st, a 4-sty dwelling, on plot 26x98,0. The buy¬ ers recently acquired tlie adjoining prop¬ erty at 51 and 53, and now control a plot 74x08,9 within 75 feet of 4th av. 23(1 Street Coiuer Eesold. 23D ST.—The property at the corner of Lexington av and 23d st, at one time owned by the American Ice Co. and pur¬ chased several months ago by the Fifth National Bank, has been sold by the bank to Charles Kaye. Frederick Zittel & Sons were the brokers in tlie transaction. The plot, now occupied by old 2 and 3-sty buildings, fronts 100 feet on Lexington av and 50 feet on 23d st, and was held at ijloOO.OOO, Mr. Kaye will erect on the site immediately from plans by Buchman Se Fox a IC-sty loft and oflice building. Through the Zittel firm, the Fifth National Bank, which is now at the southwest cor¬ ner of 3d av and 23d st, has already ar¬ ranged to take back a 21 year lease of the ground fioor, basement and mezzanine floor in the new structure, which wil! be ready for occupancy early next year, Frederick Zittel & Sons will also be agents for the building. This property was sold under foreclosure last October and was bought in by the plaintiff. A lew days later it was resold to William H, Seich, by whom it was turned over to the Fifth National. Sale in 23d Stieet. 23d st,—Horace S, Ely sold for Cor¬ nelia Prine 128 and 130 East 23d st, two old 4-sty buildings, on plot 50x98,9. ad¬ joining the southwest corner of Lexing¬ ton av and 23d st. 24TH ST-S. M. Bier has sold for Mrs, Hedwig Glass 157 West 24th st, a 4-sty and basement dwelling, on lot 20.10x9S.9. The building will be altered for business. Mrs. Glass owns the property abutting at 158 to 162 West 25th st. negotiations for the sale of which is now well under way. This property is being bought for im¬ provement with a 12-sty loft building. Investor Buys Loft Building. 25TH ST.—M. L. Hess sold for the A. & S. Construction Co., in conjunction with Webster B. Mabie & Co., the" new 12-sty and basement building recently completed ,at 28-30 West 25th st, size 50x93,9, This land, together with the adjoining 50 feel at 24-26. was purchased about a year ago by the Realty Holding Co., who resold to the A, Se S, Construction Co. and the 25th Street Construction Co. Both build¬ ings have been recently completed, and are almost entirely tenanted. This prop¬ erty was held at $425,000, and was sold subject to a mortgage of $250,000, held by the Brooklyn Savings Bank, and also one of $85,000, held by the Realty Hold¬ ing Co. This makes the fourth sale with¬ in the past four weeks in which the Realty Holding Co, has been interested, and aggregates a total of ,$2,000,000; the others being 40-42 West 27th ,st. 22-24 West 27th st, and 15-17 West 26th st, all having been purchased for investment, and Webster B. Mabie also representing the buyer for the last. 27th Street Loft Bnilding Sold. 27TH ST.—The Realty Holding Co. sold through M. & L. Hess the new 12-sty and basement building 22-4 West 27th st, on plot 50x98.9, to a client for investment. The property, which is fully tenanted at an annual rental of $42,000, was held at $450,000. This is the third. 12-sty build¬ ing sold by the Realty Holding Co. with¬ in the last three weeks, the others being 40-2 West 27th st. on plot 45,6x98.9. to O, D. Gray, and 15-17 West 26th st, on plot 44x98,9, to Mrs, Katherine I. D. Harnett; all three investors purchasing for cash. Resale in 20tli Street. 20TH ST.-A, M. Johnson & Co. sold for the Holland Holding Co., Judson S. Todd, president, to the East Thirtieth St. Construction Co. 129 to 135 West 29th st, old buih3ings. on a plot 75x08.9. The buy¬ ers will erect a 12-sty loft, building on the site, being the third loft building pro¬ jected side by side in this block within the last month. The parcel, together with the adjoining plot on the west, was acquired by the sellers last month from William P. Dixon and Mary R. Heather. The property includes a portion of old Pacific place and an old lane formerly known as "Rope walk." SSTH ST.—J. Arthur Fischer sold for Christian Kuster, of Peekskill. the 4-sty tenement house 337 West 3Sth st, on lot 25x98.9. 39TH ST.-J. Romaine Brown & Co. and Thomas Se Eckerson sold for Flora M. Graves to Mary A. Early the south¬ west corner of 39th st and 7th av, which was to have been sold at auction on March 2S. Mrs, Early owns the adjoin¬ ing property 528 and 530 7th av, and now has a frontage of 107 feet on the avenue. The property was held at $250,000. West Presbyterian Church Sold. 42D ST. — The West Presbyterian Church, on 42d st, opposite Bryant Park, has been sold for $1,100,000 to Frederick G. Bourne, a director of the Aeolian Co. A 16-sty building is to take its place, at a cost of .*i;i.500.000. The new structure will be the headquartei's of the Aeolian Co,, and will include a large concert hall. Rooms will also be rented as studios and offices. The sale of the property was negotiated by Pease & Elliman, The West Presbyterian Church, which was founded in IS29, and whose present site was dedi¬ cated in 1S65, obtained great popularity, especially during the ministry of Dr. John R. Paxton, 1881-1S93. In fact, because of the great number of wealthy members of the congregation, it was known as fhe "Millionaire's Gate to Heaven," and was considered the richest cliurch in America. The wealth of its members was said to total about $750,000,000. Tlie West Pres¬ byterian Church will he consolidated with the Park Presbyterian Church, at Am¬ sterdam av and SOth st, and the combin¬ ation will be called the West-Park Pres¬ byterian Church. 43D ST.-Dr. W. Gill Wylie sold his private hospital at 221 West 43d st, a 5- sty building, on lot 20x100.5, between Broadway and Sth av, to a client of John P. Kirwan, The Times Buys Site for Anne.\. 43D ST.—The New York Times bought from Lee Shubert the fee of the property at 221 to 229 West 43d st. and from the same owner the Astor leasehold, at 217 and 210. This makes a plot 143x100.3, The 100-ft, plot will be improved with a 12-sty building to be known as the Times Annex, and on the leasehold plot will be a smaller building to protect the light of tho larger structure. Mr. Shubert owns the leasehold of the property directly in the rear, at 216 to 232 West 44th st, on which he will erect a theatre. An agree¬ ment has been made whereby there is to be a 25-ft. lobby through the Times Building to connect with the new theatre building, on 44th st. The M. Morgenthau. Jr., Co., negotiated the transaction. 43D ST,—A syndicate composed of A. L, Mordecai & Co., Heilner & Wolf and Dan¬ iel B. Freedman purchased 240 to 246 West 43d st from Jefferson M. Levy, S.