Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 104, no. 21: Articles]: November 22, 1919

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534 MONEY TO LOAN on New York City Real Estate LAWYERS MORTGAGE CO. BICBARD M. BURD. Preaident Capital. Surplas and Pr. $9,000,000 59 Liberty Street. New Tork 184 Montague Street, BrtMiklyn Woolworth BuildiDg taken tbroagh Polished Wire Glass "Windo-w In th^ Western Union Building, New York City. Why not get the bene¬ fit ot reduced insurance rates, together with the masiniuni of Fire and Breakage Protection? Install Mississippi Pol¬ ished Wire Glass with its silver white wire and sur¬ face equal to any plate glass, and save money. Write for Catalogue and Samples. MISSISSIPPI WIRE GLASS CO. Room 1712 220 Fifth Ave., New York City RECORD AND GUIDE cently acquired the building' they now oc¬ cupy at 82 Beaver street, hi order to better accommodate the increasing' demands of their business, has purchased from the American Cotton and Grain Exchang-e the property known as 71-73 WaU street, the corner of Pear] street, and comprisine- somewhat over 3,000 sq. ft. They have also purchased from the United States Rea3tv &: Improvement Companv the seven story office budding at 67-GSi Wall street, covering' an area of approxijiiately 9.000 sq ft It IS the intention of the Munson Line to tear down the present buildings and erect on the site a 20 to 25 stoi-y office building, cover¬ ing' the total area of approximatelv 12,500 sq, ft. The improvement will give the J^Uinson Steamship Line the third largest frontage on Wall street; the National City Bank on the block to the West on WaU street having the largest frontage. The Bankers Trust Company, throug-h the pur¬ chase of the Schermerhorn Building, taken together with their present building-, wUl have the second larg:est frontage on WaU street, TJie George A, FuJlor Company has con¬ tracted with the Munson Steamship Line to have the building ready for occupancy early in 1921. It will be of the most mod¬ ern type, equipped with high speed ele¬ vators and every new facility for tenants who will take large space. The floors vpill contain about 10.000 sq. ft, of rentable area per floor with all of the modern conven¬ iences that ai'e fotmd in the best oflice buildings. The exterior is to be of simple and artistic design of face brick, with innestone and terra-cotta trimmings, and the appearance wijl reflect the dignified character of the great steamship company for whose use it is primarily built. Albert B. Ashforth, (Tnc), waa the broker in the entire transaction, Mr, Ashforth re¬ ports that much of the space not to be occupied by the owners has tdready been apphed for. By Fifth Avenue Purchase. One of the largest deals of the vear in the lower Fifth avenue section was con¬ summated -with the sale to Edgar A Levy by the Rothschild Realty Company of the Stuyvesant Building at the northwest cor¬ ner of Fifth avenue and loth street and the United States Worsti-d Bmlding. adjoining, at 102 and 104 F^fth avenue. The structures have a combined frontage of 13:^.5 feet on the avenue and 140 feet on 15th street. The properties adjoin the New York Hospital in the rear. Mr. Levy is said to have paid close to 53.000.000 for the buildings. The .Stuyvesant Building is sixteen stories hig-h and the Worsted Building is eighteen. They are among the modern business struc¬ tures south of 23rd street and were erected by the late Jacob Rothschild. The Worsted Budding was completed after his death, the site having been acquired in 1910. The broker in the transaction was Fred V V Shaw. Operator Acquires "Langham.." "Langham" occupying the block front on Central Park West between 73rd and 74th streets, has been bought bv Max N Natan¬ son from the 135 Central Park West Cor¬ poration (B, J. Greenhut, president). The Langham is twelve stories high and occu¬ pies a plot 204.4x100. It was built from plans by Clinton lS^ Russell. The Langham was purchased by the late Captain B, J. Greennut in May, 1917, he giving as part of the purchase price the estate at West End. N. J., formerly known as Shadow Lawn, the summer "W^ite House," as it was occupied by Pi^esident Wilson in 1916, f>nd has since been purchased bv Hubert Parson, son-in-law^ of the late F. "W. Wool- worth. The Langham was formerly held at ?3.500,000. With the recent sale of the Hotel Majestic, this makes the second lai'ge property recently sold 'in the 72nd street section of Central Park West. L. J. Phil¬ lips & Co., who sold the property to Cap¬ tain Greenhut. a tenant of the apartment house, negotiated the re-sale, S'henk Buys "Royalton." Joseph Shenk has bought through Reis & Feinberg, Inc.. from the Realty S\Tidicate, the Hotel Royalton, a twelve-story struc¬ ture at 47 and 49 "West i'Srci street, running through the block to 44 West 44th street, valued at Jl,-O0.000. It stands on a plot fronthig 50 feet on each street, and is 200 feet in depth. It adjoins the Hippodrome on the west and on the east is the home of the New York Bar Association, thereby insuring the light of the structure. It con¬ tains 250 rooms, and is said to return an annual rental of approxhiiately $500,000. The new owners have in mind altering the structure into offices at the expiration of present leases. Mr. Shenk has also sold to a client of B, Harris the Woodrow Court, a six-story ele¬ vator apartment house, occupying the block front on the east side of Broadway, between 169th and 170th streets, on a plot 177x100- The structure was recently acquired by the ___________ November 22, 1919 seller from Judge Martin T, Manto. It contains ten stores and fif tv-five apart¬ ments, and rents for about $70,000 annually, The property was held at ?650,OOO- Closes Fulton Street Deal. Robert E. Simon completed negotiations for the purchase of the Fuiton Building, southwest corner of Fulton and Nassau streets, a ten story structure, which was one of the first tall buildings to invade M Nassau street. Mr, Simon is said to have " p;tid $900,000 for the property, which fronts _ 57-10 on Nassau street and 113.7 on Fultoa a street. Mr. Simon has hitherto confined his attention mainly to properties uptown and in the old mercantile districts, this deal representing his first important "buy"^ ia the downtown area. Operators Buy 470 4th Ave, Harris and Maurice Mandelbaum, opera- _ tors, have purchased the modern twelve fl stoiT structure at 470 and 478 Fourth ave¬ nue, southwest corner of 32nd street, owned by the estate of Julia Peck, represented by the New York Life Insurance and Tn^t Company as trustees. The building oc- fl cupies a plot S3.8xU6, The latter dlraen- " sion represents the frontage on Fourth avenue. It is directly south of the old Park Avenue Hotel and is largely tenanted by representatives of the silk industry. The annual rental roll is 100,000 and the prop¬ erty is said to have been held in the neighborhood of $1,1)00,000, The structure was erected by Easton & Pejirce, who bought the land from the Morrell estate. Tbe buyers recently ac¬ quired the Albemarle Building, at the northwest corner of Broadway and 24th street, a sixteen story structure, for which they are said to have paid in the neighbor¬ hood of $4,000,000. Emmet & Parrish represented the Pecfc estate and Eisman, Lee, Corn & Lewine represented the Mandelbaums, WUllaai Cruikshank's Sons were the brokers. Buys Dov/ntown Block Front. The Searles estate sold the block front on the north side of Battery place, between Greenw^ich and Washington streets, front¬ ing 144.2 feet on Batterj' place. 105.9 feet on Greenwich street and 110 feet on Wash¬ ington street, and covered with ten three and four story buildings, which are said to be among the oldest in the city. The reaKy lias l>een acquired by a \VaU street man who has in mind its reimprovement in the near future. It is a couple of blocks north of the group of prooerties recently pur¬ chased by Henry L. Doherty & Co. with a view to providing much-needed space for concerns in the present overcrowded finan¬ cial district. The buyer is a client of Joseph P. Bay. Buy Prize Winning '^Verona," Douglas L. Elliman & Co., have sold for the Moulton Holding Corporation to the Thornhill Corporation the ten story modem apartment house known as the Verona, oc¬ cupying a plot 150x100. at 3-2 and 34 East 64th street, southeast corner of Madison avenue. The house was erected about ten years ago at a cost of about $1,300,000, and because of the general excellence of its exterior design won the first prize awarded by the American Institute of Architects. It is arranged in two apartments of fourteen rooms and flve baths to a floor. It numberis' among its tenants ex-Justice Charles B. Hughes, Samuel McRoberts, Joseph Clen¬ denin and Leroy Frost. The Moulton Hold¬ ing Corporation acquired the property iast April through the same brokers in an ex¬ change deal involving a handsome estate a1 Llewellyn Park, Oi\ange. N. J. The Elli¬ man company has b'^en reappointed agent for the building, having held that position for the last three years. J. C, $2,000,000 West Side Deal, & M, G, Mayer, former builders of- big apartments on the upper west side, bat . active as operators during the past year, have disposed of two multi-family struo- tureg on West End avenue, valued at $3,- 000,000. and acquired by them a few months ago. The sales '^^ere made through Elgar & Feinberg. as brokers, to corporations con¬ trolled by Edgar EHinger, who erected tiie Hotel Hamilton on West 73rd street. The properties involved in the deal are the twelve-stoiT apartments at the north¬ east corner of West End avenue and 89thj street and at the southwest corner of West] End avenue and 98th street. Together they 1 eturn an annual rental of about $200.00#,1 The SSth street structure stands on a plot luOxlOO, containing two suites of ten and eleven rooms on a floor. This was ac¬ quired from the builder, Herman Strauss, The 9Sth street house occupies a plot lOOx 75. arranged in two suites on a floor of eight and ten rooms, and was put up by Edgar A- Levy. AM Cash Sale on Liberty St, In an all cash transaction Pease & ElU-