Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-03-25

One Of the largest and most i'm
portant real estate transactions con-
summated this yea was closed this
week, as announced exclusively in the
Morning Star today. The property is
located at numbers 1894, 1896, 1898 and 900
Broad street, the northeast corner of
Green street. opposite the new City
Hall. The property Is owned by the
Carter Realty Company and the pur-
chasers were e. M. Waldron & Co.,
both of this city. owen F. Conlon, of
740 Broad street, represented the sellers,
and John ]. Gillen, of Gillen & Co.,
represented the buyers in the transac-
ton. The property has a frontage of
64h feet on Broad street and $50 feet
on Green street.
The history of this property is quite
interesting. Sixty-four and one-half
feet by one hundred and forty feet on
the corner was purchased by Caleb
Carter from Isaac Tichenor on Febru-
airy 20, 1904. for the sum of $500, and
sixty-f1ve feet by ten feet in the rear
vas also purchased by him May s.
1914, from David Conover, the consider
alton being 500, so that the total cost,
about n hundred years ago, was 5000.
The same property is now being sold
at an advance of almost 1900 per cent.
above the former actual consideration.
Once Sold for 5000.
Caleb Carter, who bought the prop
erty for 5000, was born at Union Hill,
Morris county, N. j., in 1882, and was
a direct descendant of Nicholas Carter.
one of the first settlers Of Newark, VIII ,
came here from Stamford, Conn, in
1862, the family taking u very promi-
nent part in the War of the kevoiu-
ton. Caleb Carter was a carriage man
facturer and did q big business with
the south. He was nonored by Gov
ernor w. S. Pennington by appoint
ment as magistrate of Newark, and,
like all his predecessors and descend
ants, was, held in the highest esteem
by the people of Newark.
The property just sold was willed by
Caleb Carter t. his son, Aaron Carter,
and by him in turn willed to mis- heirs,
of whom there are now over .w.snty
living. In order to facilitate the trans
fer of the property when the sale was
contemplated in 1908 the heirs of Aaron
Carter formed a corporation known as
AO Va Y LhScAtJ O0ifPohJ otfo - III
the property to it. William II. Carter,
the head of Carter, Howe & Co., well
known jewelry manufacturers. Is presi-
dent; John Pointer, we'll known In
banking circles in Newark, is treasurer,
and William T. Carter, jr., a promi-
nent young lawyer, is the secretary.
To Erect Big Hotel.
E. M. Waldron a. Co, the buyers, are
composed OF Edward M. Waldron,
president; Anthony Waldron, vice.
president, and Samuel Waldron, secre-
airy n treasurer. The company is
known as one of the most enterpris-
ing. untiring and energetic construc-
tion firms in the State of New Jersey.
The ink was not dry on the contract
of sale when the Waldron Company
gave orders to the firm of John II. and
Wilson c. Ely, architects, to prepare
plans for a first-class hotel which they
intend to erect as early as possible on
the premises, to be known as the ST.
Brendan Hotel of Newark, New Jer-
sey. The enviable reputation which
the Waldrons have earned through the
expeditions n in which they
have completed large contracts in the
past, particularly the erection of the
new City Hall for Newark, is a guar
antee that the desire to furnish New
ark with a first-class hotel will meet
with universal approval and popular
support, and will be a lasting monu-
ment to their perseverance. Isagacity,
energy and civic pride.
The st. Brendan Hotel will be seven
teen stories high. The construction
will be as hear fireproof as modern
ideas a make 1t. The superstruc-
ture. will be of steel, and the walls will
be OF granite from the Waldron gran
lite ouarries in New Hampshire. which
will have a pleasing similarity in de-
sign and effect to the present City