New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-15
HUGE SALE CONTEMPLATED
PLANS OF A SYNDICATE TO BUY AN
ENORMOUSLY VALUABLE PROPERTY.

IT II The BLOCK BOIN NDED BY TWENTY-FGFTH
AND TwENTY-sIXTH SITS. BROADWAY AND
FIFTII-AvE-A TOWERING OFFICE BUILD
ING MAY BE PIT Up on THE
sGrE-GNTEREsrING REMrNIs-
cBNcEs Connected WITH
THIS LAND
Real-estate dealers are just at present much inter
ested in rumots to the effect that the quadrangular
piece Of ground bounded the south by Twenty
hfth-st. the north by Twenty-slxth-st. on tn,
east by tnth-ave. and the west by Broadway
may be in the market at early date. II is rumored
that syndicate Is negotiating for the purchase of
the ground that 1t their intention. II they procure
1t. 10 remove the buildings standing thereon and
t. erect an immense office building with stores on
the first floor. The situation is one OF the most
superb on Manhattan Island and affords magnificent
opportunities FOR architectural effects the
fact also that the lower end and the eastern side
overlook Madison Square well as the great thor
oughfares of Broadway and Fifth-ave. there can
be no question that here would be ample oppor-
tuny for the circulation Of air. while the building
could be entered from all four sides Demoncos
uptown place occupies the Twenty ysixth-st end.
with entrances In Broadway and Fifth-ave. while
overlooking the Worth monument, the southerly
end. is the big brownstone building for SO long
time. and until within few years. the home OF
Conkling made his stopping place In the city after
his retirement from the United States Senate. and
IT was here also that the conferences between him
and Senator John r. Jones' of Nevada and
Senator jerome p. Chaffee. looking Mr. Conklings
support OF Mr.. Blaine In the campaign OF 1854.
held on the ground floor of this building also the
Madison Square Bank situated and came to
grief. Large stores occupy the space between Del
moncos and the old clubhouse.
The interesting fact is recalled that about forty
years ago this entire block passing into
the hands of 81. Paurs Methodist Episcopal Church
Association. II the negotiations had been carried
out the church would be Of the richest in
America Old St Pauls Church stood originally in
Mulberry-st. nearly opposite the present Police
Headquarters. and Bishop r. 5. Foster one Of
the last pastors there Work was begun on that
structure 1856 and finished about 1858. short
before that OF the Oldest Methodist churches
in Sew York city in Greene-st The Greene-st.
church and the Mulberry-st church arranged 70
come together one uptown site. II was then that
this block In Madison Square was purchased by a
syndicate consisting of John B. Cornell Lemuel
Blngs. Stats Mead, Enoch l. Fancher, Daniel Drew.
Andrew V. Stout and Fletcher Harper at cost OF
about sl50,c00
II was proposed to call the new establishment; 81.
Pnu"s Methodist Episcopal Church. For some rea-
son or other the negotiations were not carried
through and site at the corner OF Fourthave. and
Twentv-second-st was chosen A.. -.,
Thus big opportunity was lost 10 .ne orsani,
Zation for securing a tract OF land when would
have provided It for al. time to come with an enor-
nous revenue Il Is only forty years ago that the
nresen, site of the Fifth Avenue Hotel was road
bouse known as CORPORAL ThompsOns Madison Cot
tage After the Fifth Avenue Hotel was built its
ov.rers in order to guard against rivalry and fore
seeing rho future Immense value Of the ground be-
tween Twenty-hfth and Twenty-s.xth SITS. secured
frr what now seems tAbe a trifng sum one OF the
In eror lots on this plot thus preventing encroach-
ment by the promoters OF any hotel enterprise at
that advantageous point. 80 , !, -
Madison Square is rapidly changing in response
70 the demands OF business from Its solid blocks
~ hrownsfone mansions OF the rich to great, tow
erng office buildings and stores. Madison Square
Garden is firmly lntrenched at Twenty y-sxth-st and
UaJ,son-aye occupying an entire block The Met
ropoiitan Life Insurance Building dwarfs the spire
~ Tho Madison Avenue Presbyterian Church from
Tho northeast corner OF Madison-ave. and Twenty
h;rl