New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-20
4 TWO MILLION SALE.
GREELEY. SO. PARCELS GO.
old Broadsray Tabernacle Property
Bought by W. r. III. Martin.

W. r H Martin. Of Rogers. Peet & Co.. yes
terday bought through George r. Read & Co, from
the Roxton Realty Company the old Broadway
Tabernacle Church property, at s4thst. and Broad
way, northeast, and abutting parcel. Nos. SIS.
6s and 70 West S5th-st. for considerably more than
s22250co.
On December 10, 1901, Edward F. SearIes pur-
chased the Tabernacle plot for 81 100000 through
Herbert A. Sherman. from Cornelius N Bliss and
William Ives washburn. as trustees of the church
corporation and Nos. 6S and 70 West S5th-st, from
James c. Parrish for about $4,000. making a total
investment Of s1,$5o.0o In 1857 the Broadway Tab
ernaole Church corpora ton bought It's old site for
s7s.50o. The sums which have been paid for the
plot within the last fifty years give only slight
idea OF the great increase in realty values IN the
Greeley Square section OF Broadway in that time.
When Mr.. Searles bought the property 1t
said that he intended to erect the plot large
hotel having many unique features That project
abandoned. and about two years ago Mr..
Ssarles enlarged the propsr.y by the purchase of
lot fronting Il feet in 55th-st, and then trans
ferTed title 20 the property to the Roxton Realty
Company. the seller in the present transaction.
The personnel Of the realty company has not been
revealed but persons connected with the real
estate market have thought that its principal. II
not its SOLE stockholder was Mr.. Searles So. in
the present sale of the property Mr. Searles will
be generally considered the seller, under the
Of the Roxton Realty Company.
Mr.. Martin, the buyer has long been numbered
estate. The Hotel Martinique. IN S3d-st, is
Of his properties. He will begin In the future
the erection Of a ten story or higher freproof
building his premises, which have frontage of
9ss feet in Broadway $50 feet IN 34th-st. and SO
feet in s5th-st large part Of the structure Will
be used by Rogers. Peet & Co.
few weeks after it sold its old site to Mr..
Searles, the Broadway Tabernacle Church cor
poration bought a large plot 56h-st., and Broad
way northeast, and on that site the congregation
OF the church now worships. The Rev. DR..
Charles E. Jefferson has been the pastor Of the
church since February 2, 1898. The church was
organized July 80. 1640 and was the outgrowth
of a congregational church. organized Febru-
ary IA 1852 The question TO whether the church
should remain 34th-st. and Broadway or move
uptown caused considerable friction in the church
before the end OF 1895 On April s. 1896. at meet
ing of the church called for that purpose, the
Rev Dr. Henry A. stimson offered his resignation
as pastor. A long discussion followed after which
the resignation accepted. DR.. Stimson made
a lengthy address after the vote was counted He
said IN part:
The church has had a distinguished history in
its IT snd Was led to believe that the
church. and especially the brethren who & came oIo TO
dtions and adopt policy appropriate a TO cbnrc bnT
should If possible, remain where it is and at the
same time there is an urgent necessity Ior one OF
more additional Congregations churehes up'o""'
Mr. Searles who bought the old Tabernacle site
from the church. has been prominently identified
with Manhattan real estate for many years
In 1887 he married the widow OF Mark Hopkins
builder of the Housatonic Railroad part or
the New-York. New-Haven and Hartford system
She died few years later. leaving 10 her husband
her estate said to be valued at S3o.Oo00Oo.
The old Broadway Tabernacle property Is within
\ block OF the plot chosen by the New-York and
Jersey Railroad Company site for big
terminal station for its 6th-eve. tunnel spur. w.
r. II. Martin said last night. in speaking about
his plans for improving the old Broadway TaPer-
nacle plot:
NV plans have not as yet been perfected The
building think. will be about twelve stories hlgh
The ground floor will be used by Rogers. Peet az
Co and above that floor will be offices and lofts