New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-29
THE WEEK IN REALTY.
INTEREST IN THE AUCTION sALEs-FUT-
IRE OF FIFTH AVENUE HOTEL
LATE ITEMS FROM BROKERS.

The all absorbing feature of last week IN the real
market was the three parcels offered at the
Sew-York Real Estate Salesroom Thursday. II
IL seldom that there IL sale TO the highest bidder
OF such O. property the combined parcel in
GLIDING the Fifth Avenue Hotel and the Madison
Square Theatre. With the offer Of these properties
supplemented by the announcement that the old
Delmonico Building would be sold the time
II IS not surprising that the auction room
crowded 10 utmost limits Few Of those who
attended came with any idea OF bidding.
IL was known that the Fifth Avenue Hotel Is
property that has paid we'll and only the most
sanguine had any belief that the property would go
TO an outsider AS fl turned out, the bidding
practically confined to the heirs and their repre-
sentatives In buying the property for s4.225000
William p Emo did not. in the opinion OF well in
formed men, pay all the property worth. The
heirs of the Emo estate have had a net income of
$4,000 from the hotel alone since August J. lS99
which is = per cent s4,5oo.OOo In addition the
theatre has paid since 1894 $3.50. less the taxes
Speculation has already begun the future
Of the property. Rumors Of all kinds have been in
circulation. The latest is one to the effect that
Mr.. Emo had made arrangement with II.
O'Nein & Co. by which, at the expiration OF the
present lease he would put up twelve story
building. 10 he occupied by the firm as a drygoods
store From what could be learned yesterday
there seems to be strong reason to believe that
any such project has been proceeded with far John
Wanamaker's name was frequently mentioned in
connection with the same property and many more
expires.
The other important offerings in the auction room
jncluded the Old four story Delmonico Building.
Broadway, Fifth-ave. and Twenty-sixth-st. which
protected by the estate and bid in at $3.50 600
(tle estate rejected offer of 81 600 900 for the
property two years ago): the four story building
No. q Union Square West, bought by c. G. Peters
for s55oo: the Columbia College leasehold proper
~ at the northwest corner of F1fth-ave. and For
ty-ninth-st-. which sold to F. o. Matthiessen
for s5o.5oo ard the Clipper Building, at the south
east corner Of Centre and Leonard SITS, purchased
by a combination OF operators for s46,5oc.
SOME IMPROVEMENT NOTICEABLE.
Some Improvement was noticeable in the broker
age branch last week Most of the transactions in
volved small properties. but OF that kind of bust
ness there were considerable number Of items
'n the budget There were several sales of vacant
parcels. bur improved properties made up the larger
share Of the business done.
The leading s2les Of the week were Nos 155 and
i57 Broadway six story iron front building Box
1lb adjoining the Singer Building, which was pur-
chased by Frederick {. Bourne. president of the
estate property, northeast corner FTfth-ave and
Thirty eighth-st 60 1x25x9s ex25x37 lOxlOo which
was bought by Charles 7. Barney George R. Shell
non and William +. HaYemeyer. The purchasers of
syndicate organized by Richard NJ. Montgomery
which is handling the Orphan Asylum property,
and 1T is supposed that the purchase is specula-
ticn.
The following are the comparative tables Of the
ponVeyances mortgages and projected buildings for
the corresponding weeks of 1900 and 1899, as com
piled by The Record and Guide:
MANHATTAN AND THE BRONX