New-York tribune., 1902-01-25
BIG BROADWAY LAND DEAL
THE ADEE ESTATE PROPERTY BRINGS
S1,26OOOO.
COMMERCIAL CABLE BUILDING COMPANY
AND BLAIR & co. THE BUYERS.

The Commercial Gable Building Company, of
No. 20 Broad-st.. has bought Nos. % and "a
New-st and Nos 65 and 81 Exchange Place,
and the banking house of Blair & Co. has
bought No. "a Broad-st The property was
owned by the estate of George T. Adee. About
ten days ago Blair & Co. bought Nos. 26 and %
Broad-st. from Hallgarten & Co., and 1t was
then announced that office building would be
built on the premises, and that the first floor of
the building would be occupied by Blair & Co
1t learned late last night that the pur-
chase of No. "a Broad-st. means larger build
ing site for the banking house and probably the
improvement large scale of the other par
cells included in the deal by the Commercial
Cable Building Company. About S1,26O,OO0 was
the cost Of the parcels obtained yesterday. AS
there about $500 square feet in the prop
erty, the cost a square foot would be 5000. Hor-
ace S. Ely & Go. and Henry D. Winans & May
were the brokers in the transaction in which the
principal figures besides the banking house were
ex-Congressrnan Jefferson NJ Levy and John W.
Mackay.
William F. Havemeyer recently bought the
property No. 50 Exchange Place and No %
New-st. which is at the northeast corner of
New-st. and Exchange Place. The size of his
plot, on which stands a three story building, is
| 24.5 by 26.10 feet. His property is contiguous
to the parcels sold by the George t. Adee estate
| yesterday but no oVertureS 10 OBTAIN IL nave
been made by the buyers of the Adee holdings.
Nor does the Savin plot, fronting in Newest. and
| between the Havemeyer property and No. "a
New-st enter into this transaction. The Com
mercial Gable Building Company adJoins No. "a
Broad-st. on the south and the north, the
site which the Stock Exchange is being
built.
Soon after the purchase became known yes
terday one of the persons interested in the deal
intimated that the Commercial Cable Building
Company had only bought to protect the light
and air of its building. 1t was later learned,
however, from trustworthy source, that the
plots owned by the banking house of Blair & Co.
and the Commercial Gable Building Company
will be so improved that the interests Of all will
be conserved in the best possible way. The
nature Of the improvement OF the cable build
ing company'S plot has, however, not yet been
settled. a representative OF the company said
to Tribune reporter last night when asked for
further particulars OF the transactions:
Mr. Levy first obtained the parcels included
in the sale and later negotiations were con-
Quoted whereby Blair & Co. got No. "a Broad
st. and Mr. Levy and Mr.. Mackay the other
properties. Mr. Mackay is not at present in
the city. Whether the plot bought by the Cable
Building Company will be improved in the near
future or not cannot say. have heard, how
ever that, whatever improvement is made there
will be small court at the north end OF the
centre line Of the plot to protect the light and
air of the Commercial Gable Building, at No. 20
BToad-st."
The property Nos % and % Broad-st was
sold by Hallgarten & Co., bankers. to Blair &
Co.. for about $4,000. II is said that II
purchased by Hallgarten & Co., in May. 1899.
for S5OOOOO 1t has a frontage of 47.2 feet IN
Broad-st., and IS feet in Exchange Place, with
a west line OF AZ feet and north line OF 96
feet The property, No. "a Broad-st., has a
frontage Of about 2S feet. OF the $500 square
Company got about 4, 100 feet. and the banking
house the remainder