New-York tribune., 1902-07-19
ARCADE AND CLUB PLANNED
PROJECTED IMPROVEMENT IN AN ~;
PoRTANT DOWNTOWN BLOCK.

Plans have been drawn for improving the
block bounded by Beaver New. Broadway and
Exchange Place. and it is asserted that these
plans meet the approval OF the owners of the
property involved.
The real estate involved in the operation is
valued az about S21.0OOo00. The plans call for
n arcade street running from the Consolidated
Exchange through the centre of the block
named. the Produce Exchange. and for the
erection Of a thirty story office building on the
plot known Nos. "a to - Broadway.
The top story OF the new building is TO be
used. according to this plan for club purposes.
and the area of the space to be set aside for the
club will be about $4,000 square feet The club
is likely TO be called the Exchange. and the
other improvements Will be called Exchange
Arcade and Exchange Building. The buildings
in the block peculiarly adapted for this great
innovation.
The old buildings which stood for a long time
at No. 81 TO II Broadway have been razed, and
the Forty-two Broadway Company has had
plans drawn for the improvement of their parcel
by Henry Ives Cobb. The plans of the Forty
two Broadway Company being held in abey-
ance. it is said. until the overtures to improve
the parcel No. 46 to 10 Broadway (Which in
cludes the Tower Building) have been definitely
acted upon by the owners of the land The
owner of record of the Tower Building is the
New-York Improvement Real Estate Company.
Some Of the other principal buildings which
figure in this transaction are the Central. No.
\ to II Broadway; the welles. No. II to 20
Broadway: the Standard Oil Company's Build
ing No - to 80 Broadway; the Hudson, No. 81
Broadway and the Exchange Court No. - to 56
Broadway which is owned by William Waldorf
Astor
The arcade would begin at the Exchange Place
Of nd
through the other buildings named TO Beaver
ST. Thus persons could go from one building
to the other without having to walk either
through Broadway New-st. The Produce Ex-
change is at the southwest corner of Beaver-st.
and Broadway, and it occupies a plot 3OIo&4
ry 1542la feet The Central Building is nine
stories high and stands a plot having a
frontage Of about - feet in Broadway and 80
feet in Beaver-st. The Produce Exchange Bank
bought 1t about two years ago. and intends to
build on the site skyscraper. The Welles
Building has frontage of $50 feet in Broad
way, and its north line is about 200 feet long.
The size of the plot occupied by the Standard
Oil Company's building is 114.1 by 994 feet,
and the Hudson has a frontage of o3.3 feet in
Broadway and 40.5 feet in New-st. The old
Commercial Building occupied the plot No. "a
to II Broadway and this plot has frontage of
1913 feet in Broadway. is 1906 feet long the
south line and fronts 500 feet in Newest.
Should the proposed plan be adopted. this site
will form the south half of the parcel on which
the thirty story office building will be built.
At present each building in the block has its
own power plant. a superintendent and force
of attendants. In the subcellar of the new
building il Is designed to place great power
plant which will supply heat and light to every
building forming the Exchange Arcade and
Exchange Building. and thus the operating ex-
penses Of the building will be reduced, it is as
serted. many thousands each year. Only one
superintendent for the combined buildings would
he needed The office building will also con-
tain an interior court. and with this court every
office will receive light from front and rear
The construction Of the arcade will also. IL is
said better the interior light condition of the
other buildings.