New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-27
REAL ESTATE.
BUSINESS IN THE FIELD.

The erection Of so many new large hotels In this
city led hotel men time ago to talking about
what they termed Overriding the business" Owners.
proprictors and managers in a greater ferment
Of mind than yesterday upon learning that plans
for a huge hotel at the northeast corner OF Broad
way and Thirty eventh-st. had been filed. And
this news Il is to be borne in mind. comes In the
wake Of the beginning OF excavations for s'e new
Herald Square Hotel block below. In Broadway,
which f.. like the Hobart's. to have 800 rooms for
guests. Then too. John p Cole Is having plans pre-
pared for a fine new hosiery the Old Hotel Royal
site ct xth-ave and Fortieth-st Then there Is the
Manhattan. at For.y-second-st. and Madfson-ave.
nearly completed The erection of these structures
IS not 10 be offset TO tire hotel mans mind by the
fact that the old Metropolitan Hotel has been OBJ
liberated for the benefit of II. O. Hdvelneyer's big
business building, that where the New-York Hotel
stood three years ago. with IT'S memories OF patron
age by Sou,herners now stands mammoth cloth
lighthouse; that the Hotel Brunswick has given up
the ghost and that the ST. James is hanging in the
balance The Metropolitan and New York had out
lived their day and gave way to the uptown tide
There were special reasons affecting the others pos
ssby in the plans or tact Of the management.
Whatever the specific causes. the opinion OF lead
ing htel men that the city is already overstccked
with hote.s seems justified
A Philadelphia architect II is announced. Is pre-
pairing the plans for the fteen-stcry ONCE building
which will b erected the st. James Hotel site.
when the sale goes through /. Is also said that the
contract for the construction OF the building has
been given 10 j. L. & A. L. Pennock builders, OF
Philadelphia As they are large part OF the pur-
chasing syndicate, this statement throws no light on
the question Of the completion of the SALE One OF
the parties 10 the negotiation says that only OPP
ton the property has been given, another AYERS
that there has been SAFE third declares that there
has been sale at all
The announcement that Tho Hobart estate Is to
large hotel at Broadway and Thirty seventh
ST. attracts a special interest for those who knew.
we'll as those who have heard OF the late Walter
Scott Hobart, tho Californian. who made his fortune
in uanes 1t In said that hs purchased nearly the
whole block, outside Of the site OF the present Hotel
Normande-v'llch belongs to tho Fisher estate--for
some s350.ooO about twenty-five years ago. The bulk
OF the site for the new hotel is occupied BY cheap
and small two-story brick buildings.
The leases on all the HOBART property here have
been made for year. 50 that these Will expire
viii not be torn down n that tai s enc uness Ike
leases should be bought up.
this year, was prolific in dummy buyers and
nvpe-0olc prices. The sale OF one piece Of prop
What there IS every a for 70 be eyt was the
actual amount. sti.!. this practice has become 30
As FOR DUMMIES" they are an old-tine feature
where they are wanted for the purpose OF conceal
spector McIa sales Of properly IN this man
last week would be justified II the stories
Of the lawysrs fees he has pad and has yet to pay
estate IL traced through the period OF Tammany
Halls recent ascendency. would reveal the most ex
Negotiations for the purchase Of certain church
properly in this city TO abrupt end recently
completion, It discovered that the deed OF trans
fer to rhe church contained clause that no liquor
intending purchaser proposed to erect hotel on the
site, ne abandoned the field at
Let" This is No 122 Willam-s;, between Fulton
and John SITS 1t was built in 1892 Of imported Dutch
bri0L Mo Ford W.
fuses to sell the property and leases It only year by
year.
for the new building q the washington Life Insur-
ance Company at the southwest corner Of Broad
way and liberty-st The structure Will be from
sixteen to twenty stories high.
Mortgage brokers are complaining more and more
mortgage without the use Of the gold cause As 10
the effect Of the free-siver agitation in real estate.
The free-slyer agitation is affecting New-Yori,
real estate interests seriously than peo-
the other day from an extensive property-owner. in
which he Vas directed to let any Of the writer's
/ next. The reason was stated as follows in the
communication; There seems 10 be a possibility Of
rents would naturally Increase and do not care to
make any further agreements that may result IN
rental wai,Ie Of my property And the letter. ' was
written despite the fact that alterations costing
the owner and writer's consent In OF hts
which a responsible firm had practically agreed to
TENDER !. II the improvements proved satisfactory
to them Another instance due to silver to which
our attention has been called this week is the with
rawal for the time being of Of the largest shoe
firms IN the country from negotia-
OF a New-York branch in the whole
sale shoe district and the leasing for that purpose
for term OF years Of a building which the agent
had agreed modernize in accordance with the
prospective tenants views. at cost that would
amount TO nearly as much as the first years rent"
Among the auction sales announced for this week
are the following To-day James L. Wells will offer
III the New-York Real Estate Salesroom forty-four
lots in East Chester and West Chester Philip A.
5myth will sell. in foreclosure, two pieces of prop
erty in Mott-ave.. near OBSERVATION-DISCLOSURES thirty
To-morrow william NJ. RYAN will sell. in fore
closure. at the NewYork Saesroom. No. -33 East
Fourteenth-st.. four-story stone front dwelling.
= and sc R!ylngton-st., and No 1875 iudlow-st:
also a fve-story brick fathouse. with stores, at
ostngrs 'fS"e Phoenix CO
will put up for sale Nos. Gil and 6l9 West Forty
VIVA" y; Wel kenney T sell n Iors
Charles A. Berrian will auction OFF No IS East One
hundred ard -fourth-st
,losure plot Of three vacant lots in West Onehun-
nd-fortieth-s north side. $50 feet of Am
with stores at the southeast corner
IF One-hundrei-and -sixtyfou hist and Boston-ave
on Thursday James L. Wells will offer No. l4S
West one Observation-Disclosures Richard "
Harnett & Co will sci the three-story brick teHe-
penthouse with store at the southwest corner OF
William Kennedy will offer on Friday, In fore
slosure No. l5s East Sxteth-st .-c,.--,.
R. Moore No. l43 East Thirty-sxth-st. four-story
iwellng and lot to Willard Parker Butler for about
William e Clover has sold TO Frederick Williams
ne plot 5Oxs9 fest. the south side OF Onehundred
hree-sory stable will be erected there by him.
] V Conovan has sold No Sc West One-hundred- |
md -thirtythird- a ive-story hathouse. for the
Johanna Chapman has sold No. 1ls East One-hun-