New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-26
BIG LAND DEAL FOR COLUMBIA.
TEN CAPITALISTS NEGOTIATE FOR OPTION ON TWO BLOCKS
SOUTH or LIBRARY-sL95O000 OFFERED
NEWYORK HOSPITAL. OWNER-NEEDED FOR FIELD

Friends of Columbia University will be de-
lighted to know that there are negotiations
pending to secure for the institution an option
on the two city blocks Immediately south OF
the library The property belongs TO the So
cietv OF the New-York Hospital. and extends
from One-hundrcd- and -fourteenth-st. TO one
hundred nd-sixtee nth-st.. between Amsterdam
ave and Broadway. There are about nine acres
In the two blocks, which would be splendid
addition to the university site.
The Tribune has information that ten promi-
nent capitalists Of the city have consented to
aid in securing the desired option on the prop
erty and holding 1t for eighteen months. in the
expectation that by the end Of that time the
university will have the financial ability to ac-
quire the property. II the property is bought
by the university 1t will be used in part as an
athletic field and In part as sites for the
ton Of buildings that will be needed in the
future The sum offered for the property is
81 $50 600 almost as much as Columbia Uni
yersity paid for its present site of double the
size about ten years ago.
Negotiations for the purchase of the present
grounds of the university on Mornngside
Heights were completed in 1891. The property
then acquired consisted of the four city blocks
living between One-hundred- and sixteenth and
One-h hundred "a nd twentieth SITS, Amsterdam
ave. and Broadway. Three streets running
through the property were closed There are
eighteen acres in the site which cost s. 900 0OO
There is yet q mortgage of S1,0O0ooD on the
property. Buildings that cost about SoooooOo
have been erected the grounds. The chief
ones were gifts to the university The library
was given by Seth Low when he president
of the university Schermerhorn Hall was the
gift Of w G. Schermerhorn. Havemeyer Hall
tba off of HaVPmeyer
of his family Fayerweather Hall was butt
with the bequest of Daniel B. Fayerweather.
REALTY COMPANY WOULD TAKE IT.
one of the ten financiers who have-decided to
aid Columbia University in securing an option
on the property south of the library said last
evening that he and his associates did not wish
TO have their names made public In connection
with the negotiations a present. our AID was
solicited behalf Of the university, he sald
.as it is urgently desired that the institution
shouId have control of the property Since the
university has been moved to Morningside
Heights the property south of the library mas
baan used as an athletic field, and IL would be
q great pity to have it sold to spectators and
cut up into building lots We decided to make
an offer of 81 $50 600 to the Society of the New
York Hospital for the property and allow the
university to hold option on the property at
that price for eighteen months If the univer-
sitv decides not to acquire the property there is
a realtv company that stands ready to buy the
blocks The realty company would not acquire
the property for educational or charitable pur-
poses"
Cornelius n. Bliss who Is president of the
board Of governors Of the Society of the New
York Hospital, said last evening that he could
give no Information about the negotiations for
an option cn the property owned by the society
on Morningside Heights The property was Of
fered for sale about three months ago, he said.
and there had been negotiations for buying IT.
but he was not familiar with them. Nothing
positive can be- settled. he said until the meet