New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-06
REAL ESTATE.
ANOTHER DOWNTOWN sKYsCRAPER
PROJECTED.
A CALIFORNIAN BUYS SITE FOR 1T IN LOWER
ACKNOWLEDGEMENT r. BOWLING TO HOLD
THE SYNDICATE BUILDING - THE

A CALIFORNIAN BUYS A SITE FOR 1T IN LOWER
ACKNOWLEDGEMENTS E. BOWLING TO HOLD
THE SYNDICATE BUILDING - THE
MERCURY" BUILDING CONDEMNED.
Another tall office building is soon to be erected
in the centre OF the business section OF the CITY oy
George Crocker, OF California He has purchased
through Price Mccormick Co. the Tour ano
five story buildings at Nos. 70. " and ~ Broad
way. running through to Nos. s. il and ID New-s.'
from William Alexander Smith and Peter Marie
for s1.60oooo.
The present buildings occupy plot having
frontage Of n.3 feet in Broadway and GIL In New
st. The plot Is 1874 feet deep on the south sioe
and 12s feet deep on the north side. and contains
about 1000 square feet. The price per square ioo'
about s22s 80. is considered remarkably good one
by well-nformed real estate men, In fact, THIS
figure per square foot has seldom been exceeded
In sales which have taken place under the most
favorable conditions, where the properties have
been equally we'll or more favorably situated
The property lies between two tall office ouidihss
the Manhattan Life on the south and the Union
Trust Company Building on the north In April
1892 the Manhattan Life Insurance Company paid
for its site OF $40 square feet. adjoining Mr.
Crockers purchase $3.50 Co., or at the rate OF nearly
sl57 a square foot The trust company bought Its
site some time before this. paying for $500 square
feet N175.OOo. or about sl43 IS square foot
As appeared in The Tribune yesterday morn
Ing Robert f. Bowling was the sole purchaser OF
closure and not the New-York Realty Company
Fake & Downing, as was generally reported
Mr. Bowling said to Tribune reporter yester-
day that he considered the property an unusually
good investment. and that he intended to hold IT,
sufficient returns its former owners to meet the
interest mortgages and running expenses to
construction IT was not ready for occupation IN
time for the renting season last spring John n
ing the building. will have the letting OF the Of
ncss ,,.u.,,u.... p,u,,nu =. ~. d.. pau .nd
No. Ann-st.. was condemned yesterday by the De-
partment OF Buildings and the tenants were ordered
Y l9e
the owner. and James Gordon Bennett and John
r. H. Macdonald has sold for Mrs: Sarah Bald.
win the brownstOn one, dwsrg at No
scian. who will occupy it after April 1. The price
paid was $4,000.
Hotel. Staten Island. and the Edgemere, on Lone
Island and the present manager Of the Hotel
has leased the ' Long Beach Hotel Long Beach
Long Island, for a term Of years The transfer was
Pincus Lowenfeld and William Prayer have
bought from Sarah andersen the plot sS0o
St. 40 feet west of Park-ave on private terms. fol-
improvement.
day. William Kennedy sold in foreclosure No: l.64.
Park-ave.. five-story stone front fiat. lot Z55x%
10 the pIantln, JOnn RlexlngcT, LOT N5,WU.
The Board Of Directors Of the Real Estate Elk.
change have prepared an address to the judges oil
PRESENT pre- methods Of advertisng legal sales Of rea
estate It is calculated to discourage buyers or
account of the advertisements being so conpli
Gated. The Board states that the rules have not
been changed for ten years. and that the adver-
tisements should describe concisey the nature OF
the property. the nature OF the building and the
amount of rental
The Board also ordered the following resolution
TO be sent to Mayor Strong: Resolved. That prop
erty in course Of Improvement be exempted from
taxation on the cost of the improvement for a
period OF year from the time the plans are ac-
ceped by the Building Department: said improve.
ment he begun two months from the date OF
said acceptance; said tax during the period al
lowed for Improvement TO be the assessed value
before the improvement was stated: also. that we
recommend that the city government be requested
TO look TO the disposal OF franchises for source
OF income the city. and not to give the same 10
any individual without full compensation no sales
10 be valid except the is approved by the
Board OF Estimate and Apportionment.