New-York tribune., 1912-03-08

An important exchange Of properties be-
tween operators and builders was the chief
transaction in the real estate market yes
terday.
Arnold, Byrne & Baumann sold for the
West side Construction Company Jacob
Axelrod. president), the Paramount. AT No
8l5 West 99th street, an eight story elevator
apartment house. on plot 75XlOO feet con-
tanning four apartments on each floor.
The buyers, the Hamilton Holding Com
pany. give in exchange the nine lots al the
southeast corner Of Riverside Drive ana
list street, a plot .lOOx225 feet
The West Side Construction Company
Will Immediately improve the RIVERSIDE
Drive property. On the corner plot, lCOxl2o
feet. will be built a twelve story apartment
house, and on the adjoining plot. looXlOO teet'
an eight story structure These buildings
win be similar to the Wendolyn, erected
by the West Side Construction Company
81 Riverside Drive and Tooth street The
brokers estimate the amount involved IN
the exchange and the proposed buildings
ct A,5OO.0OO.
H. NJ. swetland has purchased through
the George Backer Construction Company
the LaureIton Hotel. twelve story struct-
ure at No. 147 West 55th street. on q plot
b0x12lx irregular, which has been held at
s450 O00 1t is an apartment hotel. and was
completed only few months ago by the
Backer company. Mr.. Swetland owns sew
sral other hotels in the Times Square dis
trict, including the Longacre ana the F!an-
Gers. John H. Fife was the broker IN the
transaction.
II was reported in real estate circles yes
terday that Moss & Brill has purchased the
northwest corner Of Seventh avenue anu
12sd street, fronting 100 feet on the avenue
and 200 feet in the street, as site lot
new theatre. The property consists OF thFee
Eve story Aathouses on the avenue lT0H'
and eight dwellings at No. 2Cl TO 2lo west
iasd street. The property was acquired
.oupIc OF years ago by John H. Springer
vho planned TO build theatre on the
site. but this was abandoned. There was
rsoorded IN the Registers once on Weones-
sAv q deed in which Mr.. Springer conveyed
+hA nroperty 10 Sadie r. Jacobs This does
not involve the present transaction.
william 5. Patten and James L. van
ssnt have sold Nos LA and lt6 west lsth
street. four four story tenement houses ana
storage buildings, on plot 44xSSo ieet' 10
feet east Of Seventh avenue. The purchase1
,s a builder. who will erect tall loft struct-
DrA on the site. Opposite, at Nos. loi and
16s the Tessier Building Company !ec9ntly
completed a twelve story mercantile ouAo'
Ing.
Tohn cort has completed arrangements
Cor building another theatre. he mas Sc
cured through Edward Margohes lohS
Iease Of the site al No. 240 to 30 East 9oth
street owned by the Astor estate Inc
,,lo+ measures 939xl0O.5 feet and is located
IN the block with the Globe, Gaiety ana
Frlton theatres. Mr.. Cort is also to De the
1AsseA OF the theatre to be built on west
Astb street by Edwin &. Corey.
Alfred E. Toussaint reports that maj
nortracts have been closed in the deal IN
volving the group Of Ave houses al lhe
northeast corner Of West End avenue d1'o
T1st street. fronting 1l6S feet in the avenue
and 70 feet on the street. The ouyer' the
FDilerton-Weaver Realty Company VIII
start work on June on the erection ot a
twelve story apartment house arranged
for two families on q door. Each apart
rnent will contain eleven rooms and three
ba,hs The entire operation will involve
about $4,000.
Atthe Offices Of the American Real bs-
tate Company yesterday it was SAID that
the above company is negotiating with the
Elkn Holding Company, Theodore o'a|-
rett. president. for the purchase OF the new
nine story apartment house al No. 10 10 10
East s2d street. The house occupies plot
ss.4xlOO.5 feet and was recently completed
by the Elkin company.