New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-03
COSTLY REAL ESTATE THIS.
THE PRICE WAS 1892 a SQUARE FOOT.
A PLOT At LIBERTY AND NASSAU SITS SELLS FOR
81 go oo0-PIANS FOR \ FIFTEEN
STORY BUILDING


STORY BUILDING
A piece Of property in the lower par; OF the
city which has been a source OF considerable in
terest to real-estate dealers within the last SIX
months was sold yesterday. ostensibly on final
account at valuation which pleases everybody
who owns any land in that part OF the city Down
town merchants. bankers and brokers have long
been familiar with the corner OF Liberty and Mas
sts occupied by the weknown stationery
and bank-bOok firm of Corl!es Macy 4 CO.
The property owned by member Of
the firm. and sold December o. 1884, to
Flake * Bowling, real-estate agents. who repre-
scented in the purchase the New-York Realty
Company. The amount Of the purchase price has
variously stated as between $685. 900 and $1,000 1t IS
understood. however. and on the best OF authority
that the last-named was the price paid IN
the December sale. Yesterday the report was
given out that Flake q Bowling had sold this
property TO syndicate for 81. 21OOc0 which is an
advance of 500 go the highest price mentioned
in the former sale.
The plot OF ground is az the southwest corner
Of Liberty and Nassau SITS. The frontage in Mas
sau-st. is 70 feet inches IN Iberty-st IL feet :
inches with the lire the extending 80 feet
inches, and tho south 100 feet > inch"s The
area Of the pot comprises $3.50 square feet Upon
this basis the price per square foot is 1872 The
plot is Immediately opposite. in Nassau-st. 10 the
old site of the New-York Postoficc now occupied
by the Mutual Life Insurance Compa ny building
IL is understood that at one time the Chamber Of
Commerce contemplated the purchase OF the plot
and made offer for IT, but the demands seemed
SO excessive to the governing powers the Cham
Der that no further consideration paid the
effort TO the land.
One Of the brokers connected with the first sale
was John Golding, who said to a Tribune reporter
yesterday that the purchase price, stated here
tofore, had been erroneous. although ne was not
authorized to give exact figures. He added how
ever that in his capacity IA broker he had offered
$4,000 for the property.
Charles A. Rich. of the firm Of Lamb a. Rich
was at his home. No. 256 West Seventh fourth
st. last night by Tribune reporter and said: 1T IS
true that this property has been purchased and on
May the work OF tearing down the old building and
erecting "A new one Will begin. / liberty
to tell you who the men constituting the syndicate
are. That will be made public later. viii say
however that nfteen-story Office building Will be
put up and that the first floor in all probability will
be designed for a bank.
"A peculiar feature Of this new building will be
that II will be constructed with steel and glass as
much possible. In these days of twenty and
ana ar is OF paramount Importance. | opposed
20 ngh buildings, and think fifteen stories too
high from an architectural point OF view. TO OBJ
Vate as much as possible the difficulty OF light we
nave designed this building that the street elc-
vatons Will have as much open gass-work as pos
Side, Inc entire weight Of the building being on
steel columns. The nrst two stories will have a
white marble front. the nuted columns standing in
'front.' OF the supporting steel columns Of the build
ing The upper part Of the building will be Of light