New-York tribune., 1911-01-15

some Manhattan districts, were reported
In many respects the volume OF business
dcne was similar to that or the previous
week; SPECTATORS were busiest IN zones
where they have been for a long time ana
where they are expected to remain hoi
many months and investors were most
prominent in places where lucrative IN
come properties have large frontages
Not zone in which rental conditions
are good was sluggish from buyers point
OF view.
The purchase by the New York Hospltai
NJ the entire block bounded by 54th ana
18th streets. Eleventh and Twelfth avenues,
as q site for a new home for itself called
attention 10 the transformation that is TAX
ing place in the district where the hospllai
has been located for many years buiio-
tng changes there have not been as many
nor as spectacular as in the newer Ioll
sreas north of 23d street and west OF Fltth
avenue, but they have steadily pointed 10
the fact that retail and wholesale ousi-
nesses have come TO look upon this part OF
the town at 10th street and Fifth avenue
Aust west Of which is the old home OF 'he
institution. as ITS own land.
In the presence Of such commercial IN
vesion. the expansion there OF the Ne"
York Hospital could not be done, either al
q lower sum or on q bigger scale, as IN q
place freer Of this business spirit SO the
hoard Of governors decided TO get the beau
tiful block overlooking the North Rlver
for the future needs Of their great insttu-
ticn. said 70 be the oldest Of its KIND IN
tLis country Opposite the property Is De
Witt Clinton Park. public breathing
srace Of two full city blocks. And south.
,,ogla ~
with almost unbroken rows of tenement
houses. not Of the better or msher sIaue'
but Of the cheapest kind.
II is truly an ideal place for putting up
q larzer and finer home for the hospital
Usually such a project largely afects
realty values In this case the general
nbvsicsl characteristics of the district will
be benefited II anything. by the proposed
hospital buildings.
lust at the time when tho idea was be-
coming prevalent that there would be little
ofice building south Of Chambers street
for many months. John n. Goding puts
stop to such thought by selling TO the
Fire Companies Building Corporation, OF
which Henry Evans. president Of the Con-
tinental Fire Insurance Company. Is
member, another site in the heart OF the
fire insurance district. 1t now controls
large part Of the block bounded by Will
lam. Pearl and Cedar streets and Maiden
lane. and on that site It will erect tail
office building. It's purchase last week was
the property Nos. L. Is and II Cedar street.
extending TO Nos s5 and IS Maiden Lane,
from Charlotte T. Kellogg.
Then followed the report that the Mutual
Life Insurance Company had virtually dis
posed of it's property No. 1N TO l46
Broadway. a seven story structure, and No.
6S Liberty street. five story building
forming the southeast corner Of Liberty
street and Broadway. for about 2,25oW0.
Some other large downtown transactions
were also reported last week.
The Charles F. Noyes Company sold for
F. j. Dawson, representing the estate or
Susan ]. Palmer. No l21 Maiden Lane, ex-
tending through to No. Fletcher street.
a substantial five story building, covering
a lot 23SxS5 feet. The property was owned
by the sellers for more than hundred
years.
The purchasers paid all cash for the prop
erty. which IS assessed by the city at
S425OO. Plans have been drawn by Fred
erick Putnam Platt, architect, TO alter the
building into modern seven story struct.
ure, ard negotiations are pending for the
lease of the new building at 5000 year.
The same brokerage firm also resold for
a client to Harry X. Grigg No. "a Front
street, a five story and basement building.
with elevator. on a plot 1S.SxS6.7 feet. 1t
adioins four buildings in Old Slip. This is
the third sale of the same property in the
last six months. 1t was first taken by G.
NJ. Silverman & Son at $4,000 in exchange
and recently sold TO the present seller Mr..
Gr1gg. the purchaser Of the property, lately
purchased through the same brokers No. Is
Front street.
In Central Fifth Avenue.
In the central Fifth avenue shopping dis
trict there was one big sale and several
large leases
Black, Starr & Frost bought,the premises
No. 6s2 Fifth avenue. which adjoins their
site at the southwest corner of 4Sth street.
On the combined parcels they will erect
tall structure from plans by Carrere 81
Hastings. Revised plans for the proposed
structure were recently drawn.
The lease held on this property by Will
lam Forger. having about six and half
years to run, was bought by the No b92
Fifth Avenue Company, and will be as
signed 10 Black, Starr & Frost, so that
there will be no delay in the building oper-
alton on this account
The plot now controlled by Black, Starr
&. Frost has Fifth avenue frontage OF 10
feet and extends 125 feet along 4Sth street,
with a westerly linerof 100 feet TO the CEN
gre line Of the block. The corner property,
on which stood the residence Of the late
Charles r. Cook head of Tiffany Co,
was purchased by Black. starr q Frost
two or three years ago.
Theodore q. Starr, the jeweler. who has
for some years been located at No. a6
Fifth avenue. between 18th ana Zoth
streets. facing Madison Square. has leased
for twenty-one years the Howard Building
an eleven story store and Office structure.
on a plot 5o6x10O feet. at the southwest
corner Of Fifth avenue and <7thstreet at
an aggregate rental for the ful term OF
about Sl.70o.oo.
b His business will move ~intositssnew quar-
'ters soon after May /, whensnecessary al,
terations have been made
The property was leased, from Ralph l.,
,shainwald and Michael Dreiceg. who pur-
chased it from Simon F'rankel in 1908 for
about S.250OOo. subject 70 mortgage OF
s1.O0o.OO0 Directly oppositey1s the Windsor
Arcade. the norther1y half of which is 20
he improved for w. e. J. Sloane, and on
the northwest corner is the Windsor Trust
COMPANY building erected by Arthur Tooth
a. Sons. who leased the ground. owned by
Columbia University. from Perry Belmont.
Howard e. Co. who occupy the store in
the Howard Building. have obtained an op-