New-York tribune., 1911-12-03
OLD LANDMARK TO CO
Continental Hotel at Broadway
and 10th Street Sold.
PROPERTY VALUE, ST, ,25O, 900
Big Loft Structure To Be Erect
ed on Site-Other Interest
ing Transactions.

An unusual number Of interesting trans
actions marked the week end in the real
estate market yesterday. Chief interest
Of these was the sale Of the old Continen-
tal Hotel AZ the northeast corner OF Broad
way and 10th street. This old landmark,
which has been held at Sl,250,0oo, is to
make way FOR a modern skyscraper with
I'm the next year.
The property was sold through the brok-
cracc Grm of ". & T.. Hess for Clarence
5. Herter and others TO Bing & Bing, who
VIII get possession OF the site on February
and viii begin Immediately the erection OF
twenty-story store and loft structure
from plans by Robert T. Lyons.
The new operation will call for an out
lay Of about 10000. In connection with
the present transaction there has been ar
ranged a building and permanent loan OF
s. $4,000 90 run for ten years at per cent
interest. The property occupies Nos. %Z
10 go Broadway and Nos 10 and q East
2st street. ana NOS IS and 20 East @tn
street The area Of the plot is 1920 square
feet.
The property has been held IN the Herter
family for fftv years. The corner build .
as the Barnum House After that, MT
Herter made twenty-one year lease 10
Peter Gisey. who sublet 10 Mr.. Merrineld'
who subsequently obtained a further lease
of tweuty-one years VI. & L. Hess nave
several leases under negotiation for por-
( tons Of the new building.
The Continental hotel property together
/ with the abutting parcels, at Nos Il ana
/ % East 2lst street, Is listed IN the l9u TAX
/ assessments at $500, Of which amount
. s-75OG1 represents land value
Two West Side apartment transacuoh7'
involving aggregate considerations Oh
about $4,000. were announced yesterday
The ". r. +. Building Company has SOLD
TO Jacob Axelrod the Piermont an elsHl-
story apartment house on plot 75xlo feet
on the north side OF 93th street. 10 Iee'
east Of Riverside Drive. The property
agured I'm the transaction at valuation oI
about 100000 The same company aiso
closed recently another deal involving the
Circle apartment house at the southwest
corner of Mornngsde avenue ana Nes'
l22d street. This structure, six stories
high. has been sold TO Jacob Axelrod' VINO
gives i'm part payment the Belle Rose al
No g30 West 18TH street, siX-story
apartment house on plot 5oxl0O feet.
Another interesting sale that viii resul'
in the building Of another apartment house
was that by VIM. c.. Osborn Of Nos. 81 and
q West slst street, consisting Of four-
story dwelling house and vacant lot
comprising a total frontage Of fifty feet
The property has depth Of lO4.4 feet and
fs 2-5 feet east Of Columbus avenue. II
faces the grounds Of the Museum OF Nat
ural History. and Will be improved with ar
apartment house. The property was re-
ported sold last year, which sale was ioi-
lowed by the announcement Of two re-
sales of the plot. This chain Of transac-
tions evidently never went through as Mt
Osborn stin appears as the owner OF record
OF the property.
The Bronx also furnished some interest
! Ing trades. among them being series oi
vacant property along Hoe avenue between
/ l72d and l73d street, which VIII result III
| three building operations and the exchange
/ OF two fve-story apartment houses III
wilkins avenue for other property.
/ sales for Manhattan and The Bronx re-
ported yesterday follow.