New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-01-20


the easterly side OF Lexington avenue be-
tween 4Sth and 18th streets, was sold yes
terday. It is one of the largest transac-
lions affecting property In the avenue
since the beginning OF work on the new
subway under that thoroughfare. James
C. MONTGOMERY was the buyer OF the
parcel from MCGUIRE & Co, for con-
alteration approximating $4,000.
The purchase affects ten three story and
basement dwelling houses and large four
story structure known as No. 523 to o5'
Lexington avenue. Nos 1876 and 1873 East
18th street and Nos. 1877 and 139 East 4Sth
street. The plot, 6Ox7O feet, at the north
east corner of Lexington avenue and 4Sth
street, is not included in the sale.
The purchasing company contemplates
erecting on the plot a twelve or sixteen
story business structure as soon as leases
on the present buildings expire. The buy
ers have built In this immediate neighbor-
hood and on MorningsIde Heights several
high class buildings. The plot just soid
was accumulated for Mr. Maze by II. Rein
heimer. who negotiated the present trans
action.
The transfer OF this property Is sig
nifcant in view of what the New YORK
Central has already done and contemplates
doing in connection with its enlarged
terminal, which, together with the con-
struction of the new subway, promises 10
result in considerable development about
this area. The railroad has plans TOT the
duplication of the Grand Central Palace
on the block between 47th and 4Sth streets
and for an arena or hippodrome on the
block between 45th and 46th streets. as
we'll as those for the express buildings on
the two blocks between 4Sth and 5oth
streets, the completion Of which will cause
the removal of the present structures on
the Madison avenue side of the terminal
Chief in interest OF the properties In Inc
Bronx sold yesterday were two six story
apartment houses at the northwest corner
of Simpson and Home streets, recently
leased by Louis Schlechter. They were dis
posed of by Helene Stein, OF Paris, TO the
Kanevale Realty Company. The structures
are known as Nos. 1901 and l26 simpson
street and No. S27 Home street, occupying
a plot fronting about so feet in Simpson
street and 1908 feet in Home street, within
a block OF the Southern Boulevard, near
the Simpson and Freeman street subway
stations.
The three story dwelling house al No. lsi
West lsth street. on a lot 17xlC0 feet, has
been purchased by Irving J. Levine and
Isdor H. Kempner, president Of the New
Amsterdam Realty Company, from the
United States Trust Company. This house
adjoins the holdings of Frederick +.
Brueck, who controls fifty feet In Broad
way, with an IL" fronting 40 feet in 4sth
street.
sun another theatre Is planned for this
block in 18th street. Just east OF Broadway.
The site OF this newest venture, according
to reports published yesterday. is the front
age OF about s5 feet at No. l3s to l46 West
18th street, almost directly opposite Will
lam A. Brady's Playhouse. These proper
ties are said 10 have been obtained by John
Cort, the western theatrical manager. and
Edward ]. Bowes, OF Tacoma. from Ed
ward b. Corey who bought them from
John II. Hndley about a month ago.
The Charles F. Noyes Company an
nounces that Goodwin. starrett & Van
Week have been retained by James y.
Jarvle as architects to reconstruct the
Tefft- Weller property. The improvements
contemplated include an entirely new front
of tapestry brick. glazed terra Gotta, plate
glass and marble for the Broadway front
and new store fronts on the Worth street
and Pearl street buildings. These latter
fronts will take In the first two floors OF
the respective buildings. The Pearl street
building will be offered for rental separate
ly The ground floor OF the Broadway
Worth street building Will be lowered to
the level OF the sidewalk This building
has frontages OF 10 feet on Broadway and
70 feet on Worth street and seven renting
floors. Each floor will contain about fif-
teen thousand square feet, and maple floors
and steel ceilings Will be installed through
out. The building will also be furnished
with an automatic sprinkler system: II viii
have three large electric elevators and five
lines Of fireproof stairs ss we'll as an In
dependent fire protection system on every
floor. The alterations are more extensive
than originally contemplated. IL is expect
ed that the rebuilding OF this structure
will be started within the next ten days,
and the contracts provide for completion
prior to May /. The Noyes company has
been appointed agent for the property.