New-York tribune., 1911-03-14

bllue Idul0S Ol tlti' NdS toh"oNse' -
the realty market yesterday. Chief inter
est centred in a loan OF sl,6000oo 20 be made
bv one Of the large life insurance COM
panies at 5is per cent on the newly con-
structed Liberty Tower Building. which has
been In the hands Of receiver almost from
It's completion. about year ago. The loan
will avert the sale Of the building at auc-
ton.
The Liberty Tower is thirty-one story
structure. occupying the block front IN LID
erty street. between Nassau street and LID
erty Place. TO the east of the Chamber OF
Commerce. and is owned by the Liberty
Nassau Building Company.
Charles Pasche is the president or the
company, the principal stockholders OF
which are ST. Louis people. including the
&. L. Gray Construction Company. which
erected this building, the Heidelberg Tower
at 42d street and Broadway, and the F1tz-
gerald Building. at Broadway and $50
street
The nroperty is encountered by Sl,3Oo,OoQ
first mortgage held by the Title Guarantee
and Trust Company, and second OF AOO'"V
IS held by the Bryant estate. which solo
the site TO the projectors.
Defaultng of interest payments on these
loans resulted in the appointment OF Mau-
rice Deiches as receiver of the rents on
December 10, at which time the rent roll OF
the building was $1,000 Since then the
structure. which was being carried at
deficit Of about 5000 a month. has been
successfully operated, now having rental
of s75,00O which IL is said largely innu-
enced the institution to make the new loan
70 retire the old mortgages
Freeman g. Hasselman. architects are
preparing plans for new home for the
Lambs, which will be one OF the finest
homes in the city. miniature theatre
will be among the innovations OF the
structure.
The building will be twelve stories m
height. covering q plot 376xlco5 feet, at
Nos l32 and l34 West 4ith street. adjoining
On the west the present six story home OF
tbs Lambs, whose membership has in
creased greatly in the last ave years.
Refuse s1,oOO0oO Bid.
Several BIDS have been received by the
trustees of the West Presbyterian Church
FOR its property IN West 4Zd street, oppo-
ste Bryant Park, which is shortly TO be
given Up. The church is 70 be consolidated
with the Park Presbyterian Church, at
Amsterdam avenue and S6th street
The West church is in 42d street, about
midway between Fifth and Sixth avenues
and extends through 10 43d street. II has
z frontage Of IS feet in each street. and
is held at S1.JooO0o by the trustees. a bid
Of 100000 is said 10 have been refused
recently.
AS a part o. the new arrangement a
church will bs erected on Wadsworth ave-
nue.. between l74th and 10th streets. and
ftis will be affiliated with the Church OF
1he Good Shepherd, a branch Of the West
Presbyterian. in Goth street, between Broad
way and Amsterdam avenue.
Henry O'Nein sold through the 5. II.
Faplael Company. No. lG 10 uS West
125th street. two story building on lot
1C0xs9u feet. together with No. 1o2 West
12oth street. a dwelling house, on lot ok
aa11 feet, aoutting The buyer viii erect
six story business building, and has
leased from the plans the TOP floor 10 the
Dairvmaids Country Club Company for
showroom purposes. The adjoining south
west corner OF Lexington avenue and i26th
street was sold on December s, 1910, by
rs,eph 7 Day al the Bruce estate sale for
$500
PENNSYLVANIA Section Site Leased.
g. =. Butterfly has leased for the Warner
Realty Company the four and I'VE story
business buildings. occupying plot 1&Xloo
feet al No. 516 10 524 West 18th srreet. The
Pasolio Ink and Color COMPANY and allied
concerns are the lessees. The lease IS for
Il long term Of years on a net rental basis.
and carries an option 10 purchase the prop
erty.
The Basoio company will use the prem
ises for laboratories, s4lesroCm, etc, and
also for its executive Offices at present 10.
Gated in the Fifth Avenue Building. The
company has sublet a portion Of the space
through the same broker TO several con-
Germs identified with the manufacture OF
electrical appliances and supplies The
PREMISES Will he extensively altered and
will be occupied by May /.
Plans have been filed for the erection OF
a I'VE story private dwelling house for Mrs.
L b. Frelinghuysen, Of Raritan, y. j, az
No. IS East 5sth street. Ii Will have
facade Of brick and limestone, in the Ital-
ian Renaissance style. On the NTH floor
Will he drying room for the laundry. and
n wire cage. Y feet high, in the front for
a playground. G.. p II. Gilbert is the ar
chitect, and estimates the cost at $i5,Wo.
NtiHtIED DAM 1OME SALES