New-York tribune., 1909-02-14
TO SELL METROPOLITAN
NEW OPERA HOUSE PROF
ECT- CONSIDERED.
Owners of Broadroy Site Discuss
Relocating at 5Oth Street and
.SeUenth Aueuue.

Certain real estate interests are trying to ig-
ure just how long the splendid piece Of property
occupying the block between Broadway and
Seventh avenue Both and 4Oth Streets ana
owned by the Metropolitan Opera and Real
Estate Company. will be used for its present
purpose. Possibly at the present time no finer
site for an opera house could be found on Man
haitian Island but with the development of
Broadway and the extension of the theatre and
amusement house belt TO the district north Of
42d street as well as with the uptown home
seeking trend OF the people who for years have
been the most prominent patrons of the opera
house. it is felt that another site could be
selected without any detriment to the chief lyric
theatre OF the city.
While the members Of the Metropolitan Opera
and Real Estate Company have taken no definite
action in regard to the disposition Of their pres
ent property and the selection of another site. 1t
is known that there is a strong and powerful
element in the company which has not been
averse to selling their present holding and
locating the opera house in another place De-
spite rumors, repeated from time to time since
actual work on the New Theatre was under
taken that eventually it would take the place Of
the new Metropolitan it can be said that there is
such plan on foot. The New Theatre was
planned for a specific purpose. and there has
been and is no intention TO have it displace the
Metropolitan.
Stin, with piece of property situated on one
Of the most valuable sites Manhattan ISL
and, and conservatively estimated as worth
S7.000000. it is considered that the site could
be put to a far more lucrative than that of
maintaining the opera house. Opera is given there
now for only about five months, at most, out of
the twelve: during the remaining seven the COM
paratively few occasions on which the house is
used scarcely pay for the expenses Of lighting.
The property is such valuable one and so IA
vorably situated that experts believe it would
be a very simple matter TO dispose OF il as the
site for a large business block or department
store Seven million dollars lent at per cent
would produce an income for the owners Of
S35oOoo in addition to which the S15O.O0o now
paid for insurance and other fixed charges
would be saved. making a total Of 100000
more than is at present accruing-
Neither the question of the exact use TO which
the new theatre is to be applied Mr.. Ham
rnerstein's more or less secretive declarations
that he was going to build a new opera house
un+ovn have had anything to do with the con
s;deration 10 sell the Metropolitan site. It is
known. however, that shrewd real estate men
have called TO the attention Of members of the
Metropolitan Opera and Real Estate Company
+be benefit TO be gained by disposng of their
nresent holding and the building of q new opera
bbuse IN a convenient, if less expensive, loca-
+ion The members of the company were not
responsible for the suggestion, bat once. it was
nlaced before them in inviting light they
we're far from impatient in listening to what
the practical real estate men had TO say on the
subject
Consideration of the plan has gone 80 far that
the advisability of using the site of the car
harms of the Metropolitan Street Railway Com
nanv ar 5Oth street and Seventh avenue. for
new opera house site has been discussed with
tbose in charge of the street railway property.
so far the Metropolitan Street Railway people
,,aI,e not seen their way to part with their ex-
te-,si1,e tract which extends from Seventh 10
Sivth avenue and from seth to 51st street IN
the mean while several brokers have seen the
I1ossibiljties and the probabilities of the future
and have been looking up sites which Woutd
meet the needs of the opera producers ana serve
TO incline the latter to dispose of their Broadway
Meanwhile there is talk of new opera mousse
TO be built near Long Acre Square by interests
apart either from the Metropolitan or the Man
haitian opera house Mr.. Hamnlerstein- ~ IS
known is not entirely satisfied with his present
location and is of the opinion that II VIII De tar
less advantag geous when the Pennsylvania Rail-
road has completed and opened its main New
work civ terminal on the West Side, between
s1st and SD streets and Seventh and Tenth ave
nues Before the station has been ouiit ~.
Fammerstein win prsbabiy have selected new
site for his opera house