New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-14
EAST river SAVINGS INSTITUTION BUYS
Pays About $4,000 Tor Site at Reade Street and Broadway
. on Which It viii Erect Big Office Structure.
PLOT OWNED BY JOSEPH II. CHoArE REPORTED

Buyers were active yesterday n many
districts CT SfAnhattSa lslaud and 81 The
Sronz-
The aInnhst:aa OfsSe Building Company
houeht O large parcel fronting in FOURTH
EVcaue and GltoiI.ing the northeast corner
% sth street: tie Hamilton Holding COM
pany was reported 20 have disposed OF a
p;ot. 4sx60 feet, - the northwest corner OF
:let street and Ninth avenue. and Lowen-
field d PIHger fou=G, i was said. a pur-
chaser sor TIE eve story loft building and
r two story stable ~ the northwest corner
or z4th street and Tenth avenue.
Moreover. william Hobson bought plot
e. list street. - feet west Of 81. Nicholas
sverue. - a size fer q twelve story IRE
PROOF storage Warehouse. and also sold the
Audubon storage warehouse, Il Amsterdam
avenue.
The principal transaction o the day. how
ever was the purchase by the East River
Savings Institution. through William {.
Walkers sons. from the Emigrant Indus
trisl Savings Bank, Of the property Nos.
81 osS and 40 Broadway. being the north
west corner 81 Broadway and Reaoe street
The property has a frontage OF about 90
@eot on Broadway and 30 feet on Reade
stree: The East River Savings Institution
eighty years the property adjoining on
Teade street having a frontsge Of % feet
u7d a. depth OF 50 feet IL is understood
that she purchase price was s750.eec
n Is the intention Of the East River Saw
f1rs Institution 20 rae the buildings or
she ste and erect thereon d large, modern
..Rcc building from twelve TO twenty
stories IN height The entire ground floor
srfll be reserved Ter the use Of the bank.
T7-nfie the plans have not been fully de-
..lsed upon. q Is the intention O. the trIs-
~eer OF -be institution 10 put Up building
which win % an ornament 10 the city. tie
facade being either ~ light granite o. o.
sosr5iA
The East Tiver Savings Insttuticn Is
one Of cao oldest "a the city, having been
so-rsed Il 1SsG i has PAID dividends con-
s.-uouslv since its organization. varying
IRON "a 70 per cent Il has s-S.@Soo on
siepas3t. with gross assets o. about 81
90 pc. its eurolus being s2.2oooC. FOX fifty
--cars the bank was located In its OWL
s,-,ope-rv q No. Chambers street. but u
-sl5 the CITY acquired the property through
condemnation proceedings for the purpose
- erecting thereon the new Municipa!
T7-,sJd!ne. Since then the savings tnstltu-
zion has been located Il the Stewart Build
s-R. which is diagoEa.iy opposite the site
- which SIS new home viii be situated.
Dick s. Ramsey a. the president Of the
bank
Tie broadway eaEe street site Was &C
rsuired by the Enigrant Bank about SIX
sears ago in order TO have reserve site
s. case the city took the block bounded by
broadway. Chambers and Reade streets as
g site for 8 new courthouse.
This Is the third important real estate
zeal in lower Broadway IN the last six
snouths Frank \. Hoffstot president OF
she Pressed steel Car Company, few
months ago invested Scoo,ca0 in Broadway
corner Office buildings at Leonard and
franklin streets. and more recently the
It. ". Woolworth Company purchased a
group OF buildings forming the southwest
corner OF Broadway and Park Place. These
are 10 be removed TO make way for a build
ing which VIII involve an investment OF
10000 when completed.
The stewart Building. az the northeast
corner Of Chambers street and Broadway.
--as purchased by Felix Isr1an several
years ago froIa the Hilton estate for
si59eesC.
Joseph y. Choate was reported yesterday
~ have sold 10 q builder the dwelling
houses Nos. ~ and 139 West e1st street,
between Sixth and Seventh avenues.
LARGE LOFT PROJECT.
The Edgar =. Holdridee Company nego-
mated the deal for the Haywood Realty
company 10 John =. Olson OF No u 10 ii
West 18Th street. 75xsSs feet A building
losn Of S275.go has been secured for the
erection o. q twelve story store and loft
building. Mr.. Olson expects TO have the
building ready FOR occupancy by next De-
cember He was the pioneer builder OF
sofjs IN this block, having erected the
structure at Nos. ~ and e West 18th street
shout three wears ago.
Jacob Meade, who recently acquired the
property Nos. ~ and 422 Fourth avenue
and Nos. a. and 81 East 18th street FORM
fnr ST L around the northwest corner OF
these thorOughfares. was reported to have
bought the corner parcel, a four story
building on lot 23xAe feet This would give
1lin control OF a plot fronting 1915 feet or
Fourth avenue and 50 feet on 9th street
Plans have been fled for four story
dance hau and lodge rooms, to be erected
81 No. 20 j. Avenue y. for i Schef8er
- g cost OF $1,000. Bernstein d Bernstein
SIRE the architects.
Plans have also been fled for making
over the two story dwelling house at No
rl6 Fifth avenue and the five story DWELLING
ssouse AZ no. . West 56th street into a five
story store and bachelor apartment house
~1tE q frontage or y rect on the avenue
snd = feet on tho street. Andrew 9 Zabris-
1lie % Red Hook. Dutchess County. y. Y
- the owner. Mayncl1e 4 FRANKIE. the
architects. estimate the cost OF the altera.
tions AZ SCOOP. The building has beer
leased 90 Schumann Sons.
Plans have also been fled for converting
VIC four story store and dwelling house al
30. ~ Avenue G into a four story dubious,
FOR NJ Lustlg. as owner. Fred Isbelirg
architect, places the cost At 5000
BIG AUCTION SALE TO-DAY.