The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-06-07
WALL STREET CORNER SOLD.
PLOT AT BROADWAY CHANGES
HANDS AT RECORD PRICE.
Executors OF Benjamin D. Slllinan Dis.
pose Of the Property for 500 900
About $500 square Foot No Plans
Yet Announced for Improving Plot

About 9HOO SQuAre FOOt-NO Plans
Yet Announced for Improving plot.
A contract for the sale Of the southeast
corner Of Broadway and Wall street, with
the old four story brick building, was signed
yesterday In the offices Of Stewart 4 Stew
art, A Wall street. between the executors
and trustees OF the estate OF the late Ben
jamin D. Sillman and Lorenzo E. Ander-
son, first Woe president Of the Mercantile
Trust Company Of st. Louis.
The price to be paid Is 100000, and as
the lot has an area Of only a little over /, 100
square feet, the transa ction Is q record one
for prices Of downtown real estate. At the
office of Stewart 4 Stewart yesterday 1t
was said the price paid would he not far
from $500 per square foot. The record
price heretofore for property in the neigh
borhood was jS4s,87 per square foot paid
In 1872 for the southeast corner Of Wall
and Broad streets.
The sale Ii made subject to lease OF the
building on the premises to the United
Cigar Stores Company, which does not
expire until May 1, lP0s The rental under
this lease is t25 900 per year, plus the taxes
on the property. making the total a little
more than 1900 per year. Mr.. Anderson
said last night that the st. Louis company
was only acting as broker in the trans
action.
Mr.. Anderson, who negotiated the trans
action. said that 1t was not yet determined
what use would be made Of the property.
though 1t Is not doubted that sky-scraper
of some sort will 60 up on 1t very soon after
the expiration Of the cigar company's lease.
The executors and trustees Of the Silliman
estate who sold the building are Edward
Mitchell and Grosvenor 8. Hubbard.
The first recorded transfer OF this prop
erty was nearly 200 years ago. when Jacobus
Cosine and wife, OF Bushwick, conveyed
1t to Dennis Mahony for flo3 sterling.
Another transfer made on Feb. Is, l74S,
from Thomas Ed to Andrew Stone was for
f2oO. Ten years later Andrew Stone and
wife transferred the property to David
Eenton for G4oO. David Fenton owned the
property from l75s until June 2. l7s0, when
he sold it to Matthew Gleaves for an even
$1,000.
On March 49, 1874, Matthew Gleaves
transferred the property to James Hillary
for the somewhat uncertain commodity
described in the deed az love and affection.
From that time on, during number Of
Gales, the southeast corner Of Wall street
and Broadway changed hands at steadily
advancing prices until April rs. 1927, when
Mary Duff sold it to John MacGregor for
$ls,276.
That was the last time the title to the
property passed by deed. The wife Of John
MacGregor was the aunt of the late Benja-
min d. Silliman and she came into possession
OF the property at the death Of her husband
and bequeathed 1t in 1870 to her nephew.
The cornerlot was long coupled by dwell
ing house, but in 1899 an era Of sky-scraper
buildings set in and Mr.. Silliman caught the
prevailing mania. So, from plans and
specifications which he himself drew, the
present structure arose to the commanding
height OF four stories The contract price
paid for the building was $500 and Samuel
thompson was the name Of the builder.
Mr.. silliman died IN Jan. a. 1901, aged
nearly 90 years. 1hiee years before his
death an offer Of 100000 was made to him
for the property. He accepted the offer, but
at the last moment, just before the papers
were signed, the prospective purchaser
backed out. At the time Of Mr.. Silliman's
death, the property was held to be worth
$500 900.