New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-06-30
BROADWAY LOTS BIG PRICE
SUM OF $3.50 A SQUARE FOOT PAID AT
THIRTY-FOURTH-ST

What is said to be the highest price a square
foot ever recorded for Manhattan realty, with
one or two exceptions has just been given by
Robert S Smith for the plot at the northwest
corner of Thirty-fourth-s and Broadway The
plot has a frontage of BIO feet in Broadway
and 511O feet in Thirty-fourth-st It is irregu-
lar in shape, and contains about eleven hundred
square feet, and for this piece Of ground there
was paid $4,000. which would make the cost Of
the land Q square foot about $3.50.
The seller of the property was Alfred Duane
Bell. who recently returned from trip abroad.
He obtained spot cash for his parcel on Tues
day afternoon. The plot. together with another
strip Of land. was bought in 1855 for $4,000
The remander OF the block fronting the west
side of Broadway. between Thrty-fourth and
Thirty fifth-st., recently bought by r II.
Macy & Co. who have begun the building OF a
new department store. TO be occupied by the
firm when it removes from its present place of
business. Fourteenth-st. and Slxth-ave. ere
There are several interesting features in the
purchase OF the Thirty-fourth-st. plot by Mr..
Smith An hour after he had signed his name
20 the contract for the purchase of the plot he
was offered 100000 for the parcel. but this was
declined. Il did not purchase the plot" said
Mr.. Smith to a Tribune reporter yesterday. for
the purpose of speculation. but site for a
twelve story up to date steel skeleton building.
to be devoted entirely TO women's Quitting"
One Of the floors of the building will be fitted
up for the OF the employees of the house
which will be the home OF r. Smith & Co.
q No IS West Fourteenth-st. Robert S. Smith
is the firm. There are no other members. For
about a year he has conducted a women's out
fitting store at No. IS West Fourteenth-st. The
buildings Nos. 90 and 60 West Fourteenth-st..
are part of the store OF r. H. Macy & Co. For
many years Jacob Rothschild conducted a mil
linery house at No. 5S West Fourteenth-st. Mr..
Rothschild sold the building to Mr.. Smith about
a year ago. Mr.. Smith recently obtained a lease
from Mary Day. Of the building No 60 West
Fourteenth-st., which has been for years oc-
cupied by R. H. Macy & Co. This lease will
take effect on May /. 1903. and will run for
twenty years and six months.
In about three years Mr.. Smith will begin the
erection OF a large department store building on
the site now occupied by Nos. 5S and 60 West
Fourteenth-st. About the same time the work
of building the proposed new store on the corner
plot at Fourteenth-st. and Sixth-ave., on which
part Of the building now used by X. H. Macy
& Co. stands, will begin. The building to be
built by Mr. Smith at Nos. IS and 90 West
Fourteenth-st., may be put up for his own
occupancy. The new home that he will build
for his business at Thirty -fourth-st. ana brodu-
way, will cost about Sl0oOUo -,
In speaking to a Tribune reporter ABOUT ms
purchase of the plot at Thirty -fourth-st. ana
Broadway Mr. Smith said:
THE first information that | received that
the northwest corner plot at Thtrty-rourth-st-
and Broadway was for sale was about ten days
ago then made up my mind that if L could
get it I would buy it. About week ago A D.
Pell who owned the plot, arrived here from
Europe Before he stepped off the steamer L
had an option on the plot, and several days ago
I became the owner of 1t. There is lease on
the property that does not expire until May /,
1908"
There was a report current yesterday that Mr..
PeII was willing to part with his Thirty-fourth-
st plot for S150000. but that this price was con-
sidered too high by would-be purchaser. This
report was said TO be ridiculous by person
who was interested in the sale OF the plot.