New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-21
THE SALE or TIE METROPOLIT1N.
ANNOUNCED FOR FEBRUARY 1.-THE ARRANGE
MENTS FOR D:SPOsING OF THE
OPERA uOr.F

The foreclosure sale Of the property OF the Metro
polan Opera House Company Is officially announced
tn take place the Real Estate Exchange >alcsroom
no III Broadway at noon on Tuesday. February IA.
In the announcement OF the sale signed by David
Thompson referee the property IS set forth as com
priSng all that certain block OF land situate lying
and being In TIC Twentieth Ward Of the city Of New
York. bounded northery bv Fott!cthst.. easterly hy
broadway southcrly hy Thrty-nnth-s. and westerly
by scvcnthave together with all the right title ana
Interest which tie Metropolitan Opera House company
Of Sow Yora dmitc had on tho 18th day Of January.
1855: I'm aud 10 the streets adjoining said hlock'
Tic sale made IN pursuance Of Judgment OF fore
closure in favor Of tho BowcIy savings Bank.
II will b. seen that the property as described
include, the corner Of the building at broadway and
thirty ninih-si and Broadway and FOreth-st.. which
belong 10 the metropolitan Improvement Company ana
are occupied By apartments. These are 10 he sold
with tho rest ~ tho building. which l. the property
of tho Metropolitan opcrf Hons" Company, against
- hlch the judgment secured These corners are
not liable. Of coure. to sale under this foreclosure
hu, tho Metropolitan Improvement Company In order
10 make the whole property Ms valuable as possible
has consented to the sal" Of lis property with that
Of IN. spcra House Company. When the corners OF
tie building were sold 90 tho Improvement company
The opera house company retained the privilege oil
buying them back NJ any tim" for a certain hAch
sim In the ne,ghhorhood 81 100000. The property
! Retarded
n that TIC hight buy It back II thought TO be one
of tar most valuable assets Of the Opera House Com
panv. The Improvement Company has also n per
pc,usi irase at a montreal rental Of tho part Of the
basement Of the building under the main entrance
to the opera house, connecting tho corner which the
company owns. and also Of tho part Of the building
over tho main entrance connecting tls corners again
above The only entrance 10 tie apartments In the
Thirty -nnih-st corner Is through this part OF the
buu from he Eortlc'h.sf
II the Metropolitan Improvement Company should
maintain us ownership Of these corners and Its rights
10 the other portions Of the Broadway front,
the value Of the rest the building any purchaser
who wanted It for any other purpose
than III opera Lousc would. OF course.
be- greatly impaired. If. for instance, new owner
desired = make hotel Of the building. he could use
ONLY tho portons I'm Thirty ninth and Forcth SIS.
and Seventh ave. with a pasSageway leading I'm from
a Broadway entrance. Will" III" Improvement com
pany would SIN have the Choice parts OF the building.
bring comparatively small price at the auction sale.
and IL T. obVlatc such condition aS this that the
% go under the hammer t0g' Their
1h,V have been various sp'cuations as To the
value OF the property ana what II Is likely To BRING.
n Is commonly estimated Ia be- worth anywhere
from II 800 900 10 S2,jOOOOO There have been
rumOrs Of "A syndicate to lie formed among certain
Of the present stockholders 10 buy H." house Tor
81 OCO.C coo and 10 preserve II for opera. These
reports have also been denied II was said Yesterday
that there danger of the propertyS selling for
holder Of n lion would that the price was enough
10 satisfy his claim. The lowrry savings Bank
woud thus take care that the price should not be
less than f0I2 900. and the Improvement company
would take that II should l." r55j790 q beyond
IT'S. satisfy rs claim In consideration OF the priv
icgc Of selling the whole building. There are other
claims which bring tire total sum TO something Ike
~ 10000 The selling price must pench similar
amount If all claims are to be satisfied.