New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-23
NEW HOME FOR GUARANTY TRUST CO.
Proposed Structure for Broadway and Liberty Street NOT 10 BE
Towering Building, as Expected
REALTY TRADING CONFINED TO DWELLING HOUSE SALES

The Guaranty Trust Company Of New
York is TO erect building approximately
only Us feet In height. at the southeas'
corner of Broadway and Liberty street, "
cost between 81, 10000 and s2,0o'Wo Wheh
the Guaranty Trust Company puronaseo
The property from the Mutual IA1e lnsur
ance Company, tor about S,"""". lie"
months ago. II was expected that Tow
ering structure would be erected on INC
site.
York & Sawyer are the arcnltects lo'
the proposed building. which VIII provloe
four floors. two Of which are TO be uuh1ed
for a banking room for the trust coii,-
n,nv and the remainder for tenants until
required by the company. The Liberty
street half OF the floor above the banking
room has already been rented TO the Doug
las Robinson, Charles s. Brown Company,
a realty corporation, which now occupies
similar space In the present building.
In the construction Of the new building
the realty company will occupy the elghth
floor In the American Exchange Nationai
Rank building BY May l or next year
the Guaranty Trust Company's home Will
probably be ready for occupancy.
The site Of the proposed building meas
ures u feet in Broadway and 135 feet In
IAhertv street The entire area OF THIS piot
will be utilized for banking room. which
rv,ll exceed In size all other banking spaces
In the city. with the exception Of that or
The National City Bank. which is housed
IN the old Custom House in lower wall
street The facades Of the building VIII De
Of stone. IN a classic design. and the IN
terror will likewise he Of severe nut suu-
stantia character
Tho American National Bank, which owns
the PROPERTY 10 the south on Broadway
recently had plans drawn 70 eXtenn lts
seventeen story building at the corner OF
Cedar street 10 cover the adjoining lot
No 1872 Broadway hut this project has beeh
Temporarily abandoned One Of the orncers
of the bank said that nothing would ne
done until the completion Of the GUARANTY
Trust's building. as ~ was possible that
the plans might be changed so that the
hank property would be required. In that
event. he said the bank would be wiillhg
N entertain an offer 70 purchase.
The heirs Of William Bard McVicksr yes
terdsv sold the four story private dwelling
on a plot 2xes9 feet. az No IS West SSth
street. between Fifth and Sixth avenues, 70
reabA, A Lee who will alter the property
for business purposes. Tho house has not
been transferred for nearly fifty years The
MoVickar-G aillard Realty Company was
the broker in the transaction. Most Of tho
trading yesterday was confined 10 dwelling
houses
Il ives learned yesterday that the Liberty
Tower Building is TO be transferred IN 4
<ew DAYS 10 a new corporation.
The transfer Is n he made for con-
sheraton Of 100000 over the Indebted
ness amounting 70 $4,000. Of which the
Metropolitan Life Insurance Company holds
$4,000 IN the shape n first mortgage
and s5s0o0o representing second mortgage
bond issue. which has been taken M ny
various interests The newly formed COM
nanv will have as directors Allen w.
E>varts. Of Evarts, Choate & Sherman W.
e. Connect. of ST louis; Lorenzo Semple,
Of Coudsrt Brothers, Walter Roberts OF
William Bradley & Son, and Frederick
Lord. ~ the Lord Electric Company