New-York tribune., 1909-06-18
ENGLISHMEN PICK UP
'REALTY DIAMOND"
Get Union Dime SaJipgs Property
at Greeley Square - Deals
aggregate 81, goo, 900.


Beers Consolidated Mines. for S1.J00OOO cash
At least, that is the way they referred 10 their
purchase of the old Union Dime Savings IN
stitution property. at the southwest corner OF
32d street and Broadway. They bought il from
the City Investing Company. of which Robert
f. Bowling is president through Samuel Cold
stcker. Other sales in the same section Of the
city brought the total for the day up to S.
100000
The brirancy of this real estate gem" was
first revealed TO Messrs- Cuthbertson and Kauf-
man by Mr. GoIdsticker about two weeks ago.
soon after their arrival here from London.
Being an expert in real estate affairs. he showed
them how fawless was this realty jewel and
how bright It's Iustre from realty spectators
and investors point Of view The first inspec-
tion of the property was made at about o'clock
in the afternoon So pleased were the prOspec-
tive buyers that they said they would not lose
one moment in deciding.
Mr.. GOldsticker. after pointing out the superb
location Of the gem" which is bordered by an
unbroken string of some of the choicest realty
jewels Manhattan Island. suggested that it's
sparkle" or. in other words its WORTH be
tested later in the day. AT 10 D. m. Of the
same day. just about the time when Broadway
and 34th street. the two principal arteries OF
this shopping and amusement centre.
diant with eabOrately gowned women and we'll
dressed men, Messrs. Cuthbertson. Kaufman
and Cioldsticker stood at 32d street and Broad
way gazing intenty at the great numbers Os
persons who walked IeisureIy by the corner. but
frequently directing their attention TO the old
home of the bank By that time the two Eng
Ishmen decided the bank property was realty
diamond" Of rare perfection. and that its rays
should henceforth shine more for their benefit
than any one eIse's. The next day a contract
10 purchase the property was signed by them.
and soon afterward they sailed for their homes
in London
DEPOSIT MONEY FOR PURCHASE
Early yesterday morning a cable dispatch was
received from them by Mr. Bowling annOunc-
ing that they had placed in a bank here
little less than S1.5O0.00O subject TO the demand
of the city Investing Company With this act
they fulfilled the terms OF their contract and
became the owners Of the old bank property.
Title to the premises viii not be transferred 70
them until May l, 1910, at which time the Union
Dime Savings Institution will move 20 the new
| home being built for it at the northwest corner
of 10th street and Sixth avenue
The institution has occupied the 52d street
site since 1876 its old home being one Of the
best known landmarks on Manhattan Island
About a year ago the city Investing Company
bought the property for 100000 thus reaIz-
ing a profit OF about S50o.0oO in the present
transaction The parcel has a frontage OF
% 9Ia feet in 32d street. 42324 feet in Broad
way. 396 feet in Sixth avenue, and rear line
of 1O7II feet. forming a plot Of about 1000
square feet II IS diagonaliy opposite che de-
partment store being built by CIimbel Brothers.
Of PhfIa deIphia the land and building Of which it
is estimated will cost S7000,0OO, on the westerly
block front in Broadway between 32d and SD
streets and a block east Of the 32d street en-
trance TO the union tunnel terminal station OF
the Pennsylvania and Long Island railroads.
Adjoining it is site occupied by Browning.
King 4 Co. and at the northwest corner OF 31sI
street and Broadway is a plot being improved
with a twelve story Office and store building by
". r. H. Martin
Messrs Cuthbertson and Kaufman intend to
hold the bank property an investment Many
realty experts think the site will soon be worth
100000.
The sum paid for the old bank property was at
the rate os about 1915 a square foot That
square foot price has never been equaIled before
for propertv north OF the financial district OF
Manhattan. according 10 real estate experts
identified with trading in the principal districts
The small plot at the northwest corner of 54th
street and Broadway was sold by Robert Smith
TO Henry SiegeI about four years ago at $S4s
square foot and later resoId for about S374 a
square foot.
In June 1905, the Mercantile Trust Company
Of 81 Louis paid 100000 cash. or at the rate OF
ss25 a square foot. for the plot Of about seven
teen hundred square feet at the southeast corner
of Wall street and Broadway. About $40 a
square foot was recently paid for plot at Cedar
and Nassau streets The Wall street figure is
the record square foot price
OTHER JEWELS PICKED Up.
Many other realty jewels in this section OF
Sixth avenue were also picked up Yesterday.
II was the IveIiest realty day in the zone in
many months For the Charles z Blaney
Amusement Company. Tucker, Speyers & Co
sold 10 William H Wheeler the premises No.
ss5 Sixth avenue a two story business building
on a lot 25x1O0 feet The parcel adjotns plot
AZ the southwest corner Of 4sth street and Sixth
avenue
The DiefendaIer estate also figured in deal
T., the district IL sold through Thomas H
Mitchell No. 500 Sixth avenue. four story
buiIdlng on an irregular lot % by 1O1 feet
The Alliance Realty Company. z. Clifford Pot
tor Feniamin MorCecai Daniel s. Freedman and
rIeiIner & Wolf comprising the Sixth Avenue
Realty Associates sold the southeast corner OF
.5tb street and Sixth avenue. rectangular plot
With Dimensions OF 1251O feet on the avenue BY
% feet in the street. comprising about fifteen
thousand square feet. through John P. Kirwan.
20 the senior member of a well known retail
business corporatiop for the use Of that business
The Alliance Realty Company had 81 per cent
interest in the selling corporation
The property purchased by the sixth ave-
,re ReaItv Associates about March I last The
purchase price was considerably more than
s5O0.O00
TT. RYANs SON FINED FOR SPEEDING.
Joseph T. Ryan. a of Thomas F. Ryan. tho