New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-06

reading IN the real estate market last
..x WIS extremely light The business
...nsac,ed was probably the poorest IN
lint Of Importance announced since the
,,nner season set in. A purchase Of par
.,,,,a- interest. however. was that Of the
.-,st side block front In Broadway, be-
.rsen ll5th and ll6th streets, by Palermo
v-others. on which site will be erected two
.r,een story apartment houses. each TO
&c, s.. 10000. The project will represent
:, outlay in the neighborhood OF 100000
IRE structures will be two stories higher
.son the previous altitude record of houses
:. this kind erected by these well known
,rgde-s. The site is in a choice location
,bsre the value Of property is rapidly in
cress-ng
The 6isposing by Dr.. Thomas Addison
-,rpet OF the old dwelling houses at the
.or.heast corner OF Madison avenue and
,s,A street for a twelve story commercial
,rrdjnS has attached 70 it a bit OF old
ci,v history The buildings to come down
,o- the new venture are five separate
srAIling houses. the one az No. 50 M1di-
.on avenue being used as the Office of DR..
rrret. who Is 70 make the Improvement
rns adjoining houses, Nos. 81 and 90.
soused what probably was the first sana-
,o-4ur, IN the city. established IN the early
w's
From this hospital which was founded
~ Dr.. Emmett has grown what is to-day
IRE Women Hospital which occupies
large plot opposite the Cathedral Of St
holm the Divine on 10th street, extending
through 20 10th street. Just west of Column
hrs avenue The commercial building 10
W erected BY Dr Emmett viii be either
twelve or fourteen stories high. and ar
-sngsrnents are said 20 have already been
completed foT leasing several of the lofts
II vii form another important chain Of
business invasion along the thoroughfare
Sstween Madison Square and Murray Hill
N the lower Broadway financial section
the agreement between the American Ma
tiorsl Exchange Bank and the Guaranty
rust Company FOR the Improvement Of
the block front from Cedar TO Liberty
street IS Interesting. The selling Of the
north half Of No. 1S2 Broadway by the
hank 70 the trust company brought about
this change, which will settle the character
Of the easterly side % the block for many
years 70 come.
IN connection with the razing OF the
present structures. IL is perhaps Of interest
% note that the clock in the tower and the
cornerstone q the Mutual Lies old home
are TO be preserved as a memorial Of its
early days. The building is one OF the few
landmarks below Fulton street, and was
erected In 1873, when il was considered one
OF the Anest IN the city Its demolition will
remove one Of the best examples Of the
builders art before the advent Of the sky
scraper. about twenty years ago
Just 10 the east Of the site on which the
Guaranty Trust Company will build its
massive building practically for its occu-
psncy, stand three houses which the late
Henry Z!eg.er, head Of the baking powder
Industry. acquired about fifteen years ago.
They are dilapidated and out Of place
among The modern buildings, but nothing
can be done with them until an adopted
son atla.ns his majority, about two years
hsncs The buildings stand on a plot No.
@ 70 g. Liberty street. measuring 76.4x
8 feet. and are but sparseIy tenanted. the
most prominent occupant being the New
York Clearing House, whose new building,
fronting on Cedar street, abuLs on the rear.
Since the Clearing House now requires a
ssction Of this property. il is believed that
when Young Ziegler attains his majority
the property Will either be improved by the
estate or will be purchased by the Clear
ing House 10 extend its building so that it
viii face the Chamber Of Commerce. in
Liberty street.