New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-05
VICTORIA HOTEL PROPERTY
THE LATE MRS. STEVENS'S PLANS WITH
REFERENCE TO IT.

NEGOTIATIONS WERE IN PROGRESS At THE TINE
OF HER DEATH FOR THE ERECTION OF
LARGE MERCANTILE BUILDING on
TIE SITE OF THE HOTEL
The death OF Mrs Paran Stevens "Wednesday
afternoon. following so closely upon the retirement
Of the lessees of the Victoria Hotel. has proved a
subject of considerable interest in real estate circles
IT was supposed by some and announced in few
newspapers that the lease 10 the tenants OF the
hotel would probably be extended to May J. bat 1t
closed last Saturday and the furniture was being
moved on Monday. Various reports have been CIR
culated the future OF this property. The VIC
toria Hotel occupies plot OF ground 80 feet nches
in Fifth-ave 81 feet T., inches in Twenty-seventh-
St and To- feet Q inches in Broadway. The property
on the south side extends 100 feet west OF Fth-ave
ami from an angle Sc feet inches southwark
toward Twenty-siXth-st.. 10 an angle. thence llo
feet . inches westerly to Broadway, making to2I
area of 1881 square feet. This site originally cost
the late Paran stevens about $GSo0D portion of it
having been bought in 1863 and the remainder IN
1871 \: the time Of the purchase the broadway
side was occupied by stable. store and stone
cutters ward. on the Fifth-ave front there were
three residences belonging respectively 10 iarid"'
Putnam. Peter Moller and Rober; Livingstone.
Paran stevens died April 2j 1872, and at time
when the plans for the construction Of the Victoria
Hotel on the site In course of preparation
The building was finally erected IN accordance WIN
those PLANS somewhat modified. at 'o'al coS' "
500 C0o making the value of the plot ana cohH'uN
ton ST. $50 600 Subsequently an offer o. SlSV"" WIS
declined by Mrs. Paran stevens. and the present VAL
nation Is estimated at about 100000. The properly
passed by the Will OF Paran stevens TO Chal'eS '"
Stevens and George f. Richardson, trustees anu
Mrs stevens under the will held life interest III
the pyo3erty which at her death was to revert u
Mrs John L. Melcher. daughter of Paran stevens
nv his frs; wife and a daughter by the second mar
rjaee Miss Marietta Stevens, who was Marie" !"
July 1878 to Arthur Henry Fitzo% Page'' son u
the late Lord Alfred PIgot and grandson u 'i'
frs; Marquis Of Anglesey.
Mrs Stevens hal n habit Of conducting business
IN her own way, oftentimes without consultation
with those nearest 10 hey. For some time she had ha
under consideration plan for the future use y. 'O
Victoria Hotel property. Within the last ten uaHS'
nc result of ;he retirement of the late lesseeS the
sater,en, has appeared that the arreaiaeeS % ie",
amounted 70 upward OF 5000" Wi;Hln the same PEI
a Tribune reporter calico upon Mrs stevens az he'
home No / Eas; Fifty-sevenih-st.. ana personal!
conyerscd with her the subjec, OF the disp'S''o
&c be made of this property. M's. Stevens S''
N hin, on the occasion Of the las; interview 50 Ie
81, ~ I,r,aav Of last week. that arrangements
had heen conDletei ana only lacked the signatures u
a couple Of Interested parties. the pren'h''''? 20
ners having been alreldy signed. which "o'ir ~
yolve the taking down entirely OF the ho'e4 o"'' ,
and the construction upon that size OF '"e'
s,orv building with eight elevators, ana 10 Or ue-
,,o.al altogether TO mercantile purposes Mrs- sc
yens said on that occasion that out OF ~
,ha wishes Of the parties with whom she Was heso-
t,a,ins she could not accede TO me ieluVS' u '''
renorter for the names. but she a"Ued'
1.-The Victoria Hotel property mas peeh Soui'7
-. ,o,ch ANNOYANCE 10 me for some time nave
had much difficulty in securing the prompt payment
of rents and instead of the arreaIaseS ano"n'""7
TO $50 COO they really amount 10 siio"'' nav 80
led to consider the sta and have pursued
the matter without me az 81 al oointing to
so s loom at the rear end of the nall and Their
/ conduct business on my oWn @ygI|'t into such
shape that when die will pass into ne nan3s OF
nnvanne and delay OF litigation. The plans 80 iSr
as they have been advanced in comm " io,I.
matter might just now appear on ,hgr ito f. tben
AS soon however as all the details ar - ii'rsci
nd If necessary 20 before the courts 10 have every
of the conclusion of this transaction 1t MI prov
NOV, involve the tearing down within the next two
years of Victoria Hote ard me cons,ruc h o.
tire establishments be devoted to mercantile useS
lease Will be given on the property iof pe'ou u
She added also that. while personally she woH va
nsrties who we're in negotiation were exceedingly
anxious that no mention should he made 10 sat-iy
3us ad on thoroughly legal basis. ~, s... ,aa
In confirmation OF the faci that MT M nm,
had this subject under consideration lor som. IN
It may be added that at recent dinner parry ~. n
occupied "A seat by the sue OF iitHlS 'i'N'' ~
: we'll known banker. In The course OF the evening.
Mrs. Stevens referred to the c9ndition Oh onsi b
| generally, and Incidentally told Mr. Crews OF htr
purposes with respect TO the victoria iiotei prop
er;v She did not however, commit 70 MN me
knowledge OF the persons with whom sh" was ne
cOtiatinC hut said to him. as she dld also 70 ne
Tribune reporter that the announcement OF the
fact Of the completion Of the transaction would not
only be sensational. but that the estabshinent OF
90 large a commercial concern on the victoria iiol,'
SITE would practically revoutoniZe the entire local.
ity with respect its bearings upon the advance
northward Of the centre OF trade. - 81,
When the subject mentioned 10 MI tle"s
names Of the parties beyond the repetition OF the
statement TO him tina: those Interested were asS)-
ciated with one of the largest mercantile concerns
In the country. The natural query IL whether the
death OF Mrs Stevens will necessi,ate the breaking
I'd OF the contemplated deal o
Fer some rea other the name or Ilnahy q
Co has been associated with this affair. Few
wears ago the statement published that this
firm was negotiating fOr a leas" 81 Mrs; william
Asor's mansion az Thirty-fOurth-st and fitth-aNe.
the site Oh v hich the John Jacob Astor h0tei
Is to be constructed Immediately north OF tn W al
dorf. At that time Mr. Tiffany sald tnot WINE 'he
suegestion had been made 20 him that y would be
a valuable site for his estabshment-g fact wnlch
he conceGed-he expected. so far as he was con
cerned to end his DAYS in the old building IN mon
Square. While positive Information IL Cbtalna-
bic lust now there IS lurking belief that lilfany
Co are i'm some way other associated with the
parties who have been lately conducting ne"ota-
lions with MIS-. Stevens.
n was stated a few DAYS ago by one Of the exec
utors under the Will of thu late paran Stevens that
the j. non Of about the value OF &tCnVll
which Is 81 c0GD in excess of the value at the time
Of the probate Of the viii.