New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-25
MORE DOWNTOWN PLANS
Md Landmarks To Be Replaced
by Modern Buildings.
NEW HOME FOR TRUST co.
wsnv Sites in Other Districts
Bought Last Week for I'm
mediate Improvement.

rooa miscellaneous business was trans
led last week in the local real estate
market;
noVntown building projects and sales
are anons the principal features
This vigorous realty activity in the great
=. financial and office section OF the CITY
!. considered by many experts as a har-
,,,gsr Of much larger demand in the
..or future in investing circles for the most
Unable properties south of the central
,o,ss o. old Manhattan Island. Even If
..s-e should e no big increase in this
lass Of trading for many months. brokers
I'D other persons actively identified with
,,s market Will be satisfied with Just a
.,,tinuaiion 81 the present volume and
.,sracter Of downtown operations.
More important changes in the sky line of
re Office and banking areas will soon be
made. owing 10 plans perfected last week.
Resides projects We're also launched in
he week for replacing several large old
fashioned structures in central and more
,ortherly sections with big. substantial
rsrcantile or high class dwelling houses
ID 20 last week the total cost Of Man
tst;sn construction work planned this year
vas nearly 100000. The sum TO be spent
in the carrying out Of the plans agreed
upon since last Monday VIII increase that
amount by about 100000
The proposed new home Of the Guaranty
trust company Of New York. to be erected
81 the southeast corner OF Liberty street
and Broadway. Will cost considerably more
than s. 10000 Il will be eight stories. Is
feet from street level 10 roof. and will be
uected from designs by York & Sawyer.
better site FOR q home for the trust
eo,parv could no. have been selected. 1t
&c not only N the heart of the financial
and Office section but has a large frontage
m Broadway. L measures IS feet in
Brosduay and I35 feet IN Liberty street.
The entire area Of this plot viii be utilized.
As previously reported. for a banking room,
which Will exceed in size all other banking
soaces .n the city. with the exception Of
,fst Of the National City Bank. which is
housed .r Che CID Custom House in lower
Wall street
The facades Of the building will be Of
stone. % a classic design, and the interior
NIL likewise be Of a severe but substantial
Charactcr.
TIL American National Bank. which owns
the property 20 the south on Broadway.
recently had plans drawn 10 extend its
seventeen story building at the corner Of
Cedar street 70 cover the adjoining lot, No.
- Broadway. but that project has been
temporarily abandoned. one OF the officers
Of the bank said that nothing would be
done until the completion Of the Guaranty
Trus,'s building as IL was possible that
the plans might be changed that toe
bank property would be required. In that
case. he said. the bank would be willing to
entertain an offer to purchase.
In New Insurance Centre.
T. vas also learned last week that Ed
ward A. Schmidt, Of Philadelphia is the
buyer 4 the premises No. 50 10 SO John
street and that he intends 70 alter the
three structures on the site into one build
ing
Plans for the improvement, which viii
Include a new facade. have been prepared
nr The owner BY Frank II. Quinby
T the west Of this property stands the
Oh John Street Church. owned by the
Dutch Reformed Church in America. ana
ore - the Oldest churches in this country
Directly opposite. at John and Dutch
streets. are the Frankel & Hilliard twelve
and sixteen story Office building. recently
constructed for Insurance interests.
The Schmidt property is in the newer
centre Of IRE insurance interests, where
renting conditions are excellent
How auuring is this part Of the city 10
biz investors was shown last week by the
sale OF the Meyers Building. Nos. A and
q Maiden Lane, on a plot 45xlD feet TO
the Interstate Land Holding Company CON
trole5 by the Aver estate Of Boston ne
property was owned by the Meyers heal''
Conparv cJerOme A. Meyers The Charles
2 Noves Company and the Daniel BiruSa"
Corpsuv negotiated the transaction
This property was held at $'o'''7. III
Yields a rent. OF about $4,000 a year.
The zen story Langdon apartment mouse
AZ Nos. 1T and l59 West Path street on
plot 5x,o feet. was given In part payiiieil''
The T.argdon property adjoins the former
Harlem Casino. and was acquired IN loie
closure proceedings in 1904 Inc NoyeS
cor,,arv said that the Langdon parcel
who figured IN the exchange at d NaiI"
ton Of $4,000. VIII either be reinouelI'u
int storage warehouse or loft buildihs'
Ovsrtures 10 Lease Building
One Of the leading transactions last "eeA
IN ire central business district was me s"'e
bv Fy~av Z. co. for Hugh r. . he''' -
the ,rorer-, No. 43 10 AZ West 18th street
three fo-,r story stone front d"eIIlns
borses on Mot 65xSo feet, $50 feet east VI
six,b avenue 10 the Hasco Building ON
nam IT .o~ir A Scott PRESIDENT. Inc ouy 81
VII 500, raze the present buildings al.
erect ON the site a twelve story h'cl. ~
To-. s.-..ot,,ra from plans by Waiter ma
.sr y.bo estimates It's cost al $--''o'
v-i cor,si, two passenger and one ltel7'''
- ana o. sn~inkIer system Will ne u"
stalled .,+ s1q5. 900
Nv o.PeiIv held the property al Sl'' 80
ge owned the house al no. - ioI =, sror,
a eenturv. and last year bought -. 49, on
ire Astor estate The plot is oiieC Ter
nos,to the church Of St Francis ,,aroe
and on the Sixth avenue coIile'
80 49,. c.~eor,y,ich Savings Bank. I'D
O. - .se largest Catholic doom
c,.,,.o. s,,,.rl,, houses in the city Is 81 p
-. -".-.s,.t-,, with Furey & CO. Aoi "
lease Of the entire building.
Central Fifth Avenue Tracing
~. .o,.-o, Fifth avenue baih"lcN ~ ~,
nlsbed several interesting l''''
news 10 well adj
Negotiations were said 10 w -, ostate
vsnced for the leasing OF the - a-aet ex-
property Al No. East oo'n oa.n street
tending through 20 no f1'Sl ,rvolveg
The transaction. it was also salu' .ronartv.
a twenty-one-year lease Of the ne p'J nerlod
carrying two renewals for sii,ll'@1 rore the
to a company which plans 70 ihP mp. hund-