New-York tribune., 1901-12-15
BIG REALTY DEAL IN FIETH-AVE
WELL-KNOHN PLOT OPPOSITE THE METROPOLITAN CLUB
SOLD FOR ABOUT s1,000O0o


plans about owning and building one of the
largest. if not the largest, hotel in the city
soon, however to be upset. Ground broken
for his hosiery, which was to be called the
Knickerbocker. About $3.50 600 had been spent
the foundation when the Tweed ring was
shattered. That put end to the building os
the hotel. Stories are also told about Coils P.
Huntington at one time considering it an ideal
site for home for his own occupancy. A sub
terrranean stream of water which flows from
Central Park toward Fifty-ninth-st. and Sixth
ave, and also in more easterly direction,
1t is said. led Mr.. Huntington to seek site fur
ther down in Fifth-ave. on which to build q
house for himself. He learned about the sub
terranean stream by examining some old maps
showing the streams that traversed certain sec
tons of the city years ago. In view of his dis
covery he built at the southeast corner OF Fifty
seventh-st and Fifth-ave., most people know.
No subterranean stream, however, flows under
the Lee estate property, at Sxtieth-st. and
Fffth-ave. 1t is thought that Mr. Huntington
decided to build in -ifth-ave. some blocks south
of Fifty-ninth-st., as the site on which he built
was considered at the time he bought it one of
the best home sites in the city.
The of William II. Lee, who owned the
property which has just been sold, is insep-
arably linked with that of Amos r. Emo. Both
Were born IN Connecticut. and when young
were members of the same drygOodS firm Later
they became interested in real estate. Though
they operated each for himself, they seemed to
be destined TO be brought together again in the
realty market for both held about the
views as to the future of New-Y York real estate
According to some of the old real estate books
the horsecar railroad first operated in this
city about 1882. when the Fourth-aVe. line be-
gan its trips, running from PrinCe-st. far
north as Murray Hill In 1915 few houses We're
be above Union Square. and in 1852 the
principal house in Madison Square one
and half story frame building. in which lived
Corporal Thompson. 1t the site now oc-
cupied by the Fifth Avenue Hotel.
Some years before this period Mr. Lee. 1t is
said, came to the conclusion that IL would not
be many years before the section near the Plaza
would be built up. and. in view of these Opin-
ions. he bought property in near that section,
which was then regarded away from the cen
tre of the city A little later Mr.. Emo became
identified with purchases of realty of a somewhat
similar kind In 1854 he bought land at Twen-
Fifth Avenue Hotel. The hotel was for some
time after he built it generally called "Eno's
folly Both he and Mr.. Lee however, lived to
see their expectations about the future growth
Of the city than realized. Mr.. Lee died
in this city April Q, 1899 and Mr.. Emo on
February p, 1898.
Mr. Lee was born in ew-Britain. Conn, on
May 10, 1915 When a lad he lived in Troy In
1912 he came to this city and spent three years
ne organized the firm OF Lee & Case. for i'm
porting and jobbing in drygoods. The other
partners We're Watson E. Case. John J. Phelps
and Amos R. Emo. Later the firm became Will
lam II. Lee & Co, Lee, Bliss & Co. ana finally
Lee, Tweedy & Co.