Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-01-14
Two Millions Involved
In 268-foOt FRONTAGE
Transaction.
p. j. BOWERS AND W. S.
FAIRCHILD GET CONTROL
Property Is at Central Avenue
Near Contemplated McAd0o
Terminal.

Ono Of tho biggest real estate deals
sver put through in central business
property. involving about ss.oOo.oOo,
was consumated yesterday by Philip
J. Bowers and william S. Fairchild,
well-known operators OF this city
BY securing a wenty-year lease of
the property at the southwest. corner
of Broad street and Central avenue at
cost OF $500. 900. on which will be
erected a modern six-story building
costing s16o.ooO, Messrs. Bowers and
Fairohild completed a series Of deals
which practically gives them control
of part Of one OF the biggest business
blocks in the city.
Also Acquired Property In Hslsey ST.
This latest purchase. Just made
public, give them all OF the Broad
street frontage from Central ave-
nue. south to Hallet & Davis's
store. next to Hahne s. Co. except one
small piece. Their total frontage on
Broad street Is 2es feet They also re-
Gently bought property IN Central ave-
nue. and Halsey street. On the latter
property they will build a big eight
story warehouse. BY these deals Messrs.
Bowers and Fairchild become the larg-
est Individual taxpayers in the city.
The property of which the lease was
obtained yesterday is owned BY WILL
lam Scheerer, who purchased II last
spring from Philip N jackson through
Mr Bowers for $275,o0o. The property
has a frontage in Broad street of AZ
feet and extends along Central avenue
for 150 feet. making an / Of another
ninety feet. Work on the construo-
tion of the new six-story building on
the corner will begin on May / and II
will cost $15o,000. 1t is understood that
an out-of-town department store and
a large speciality house are already
negotiating for the entire building. 1t
will be Of limestone and have $4,000
square feet of floor space.
Among the pieces of propery In
volved in the deals is that at 591 Broad
street. which is occupied by the Gus
ter millinery store. 1t extends twenty
one feet along Broad street and has q
depth of 1870 feet. The property was
bought from Charles E. Cameron for
100000. Five years ago Mr. Fairchild
sold this property for $65,00O to Mr.
Cameron.
The property at 59S Broad street.
occupied by the Crescent drug store,
was purchased from Matthew T. Gay
for $105,000 1t has a frontage of
Eef1 fNy- nd of
feet. Mr.. Bowers had previously sold
this property to Mr. Gay for $4,000,
The property at 595-597 Broad street,
occupied by the Harris optician store
and the Canadian Fur Company and
which has frontage of so feet and
depth of 1s0. was purchased from
William Scheerer for $175,000. Six
months previously he purchased the
property from the Jenkinson estate for
s135,00o.
Other Properties in Purchase.
The property at 6es Broad street oc-
cupied by the k-Barnes Company
was purchased from Miss Jennie Ward
for S107,500. 1t has a frontage OF TWEEN
ty-two feet and a depth of 180 feet.
From the John H. Eastwood estate
the property at 601-S-5 Broad street
was purchased this week for 100000.
The first is occupied by Philip Garey's
cafe, whoge lease expires on May l,
when, it is understood it will be given
up. No. 603 Is occupied by the Wissner
Plano Company and sos by T. M.
Wards coffee and tea store. The lat
ter concern has been in business in this
store for many years. This property
has a frontage of sixtysix feet in
Broad street andsa depth of 22O feet.
Tt is situated next to the Hallet &
Davis building and in the rear runs
into Hahne & Co.'S store Sor number
of feet.
Among the other pieces of property
in this block is that at 1886 Halsey
street. which extends to the alley adj
Joining the Halne building. This prop
erty has been vacant for some years
and an eight-story fireproof warehouse
will be erected at a cost Of $130,000.
The property has a frontage of ninety
feet in Halsey street and depth of
ia feet. It was purchased from Philip
n. Jackson for s63. 900. Work on the
new warehouse Will start on May /.
One of the most interesting purchases
made was that of the property at IA
Central avenue, which has been unoc-
cupted for twenty years. and is known
as "The Haunted House" This prop
erty has frontage on Central avenue
of 26 feet and a depth of 220 feet, ex-
tending practically through the centre |
of the block, its extremity being the /