New-York tribune., 1912-02-04
Trade EXPANSION IN MADISON AVENUE
Ne Sites lust North Of AID Street Bought for Immediate I'm
prOvement for Retail Business Use.


-..Sine in lower Madison avenue was
=, week of such character as to arouse
A'@sSsspresd interest in realty circles.
- rresent conditions affecting property in
-. mart of the section are criterion of
s,h., the future holds in store, building and
"',rcbasing. operations there are going to
In, many of the principal news items or
49, market throughout the year.
o.hor sections, too Of Manhattan are al
Is. weekly rejecting a larger strength,
hitch presages more numerous opportuni-
.,os within their borders for many kinds Of
snecuIators and operators, and new, we'll
,ocated centres for retail or wholesale
houses. The Importance of the sales and
h,,i,ding projects in them has exceeded
several times this season that in the older
and more familiar paths of the present
scbooI Of traders, and occasionally over
sbadowed Madison avenue transactions.
They are the various divisions of Lexing-
. .or avenue, which emerged from a somno-
lent state Just before a subway up the
tboroughfare was assured; the 57th street
zone from Lexington to Ninth avenue. ard
the upper Sixth avenue district.
Then. a new area of activity has leen
created by the plans of the city for civic
centre in the territory bounded by Lafay-
cite Park, Leonard and Duane streets. In
the middle Of this parcel, which comprises
many blocks, is to be the proposed court
house.
II was predicted that some big properties
near this civic centre would soon change
ownership. Last week two eight story husi-
ness buildings, occupying an entire block
Gtfp sold.
II will therefore be readily seen that buy
ers are not concentrated, even the Fourth
ovsrue loft area. where millions have been
invested in recent years, figuring rromi-
nently in the volume of business transacted
last week.
Contracts Of sale signed last week will
result in the passing of titles 10 a dwell
ing house in the westerly block front IN
Madison avenue. from lst to AID street.
and to the premises No. 41G, just north Of
the northeast corner of 4Sth street.
Bio Sales This Year.
Several other important transactions in
This mart of the avenue have been reported
This year. Charles & Co., dealers in gro
ceries and fruits, bought the four story
dwelling house No. 329 Madison avenue, on
a lot 2OlOx101 feet, from Thomas +. Row
land. jr.. and Charles 3. Rowland Inc
sale price was said to be about $2OOOV'
At the southeast corner of 43d street ana
Madison avenue is a twelve story store and
Office building on a lot 20x100 feet. The
structure was recently built by Charles q
Co And in the first week Of the year
Pease & Gilman sold for the New York
Life Insurance and Trust Company as
trustee for William Alexander Smith, the
four story building on plot NXlo feet al
the northwest corner of 18th street and
Madison avenue 70 Halsey & Flint, Who'
il was announced, would install stores on
the ground floor and alter the upper stories
into bachelor apartments.
The Advocate Realty Company recently
bought through the Douglas Robinson
Charles S. Brown Company from Mrs.
George S. Hastings No IS East 4Sth street.
southwest corner of Madison avenue,
dwelling house on a lot 27x595 feet; from
Admiral James Z. Tolfree. the premises
No. 2S East 49th street, 2OU64 feet, adjoining
the corner parcel, and from Mrs. c. NJ
Vatable No. "a East 18th street, 22.Sx6i feet.
The total sum at which the respective
parcels was held was about S35O,0OO
The four story dwelling house No 4l6
Madison avenue. on a lot 24.5x95 feet. was
sold last week TO James A. Farley, who
will improve it for business use. 1t was
the third sale Of the house in the last three
years. and in each transaction Pease d
Gilman have been the brokers.
Last February IT was sold TO John Slay-
back for S95,O0O, who. in turn, a short time
after disposed of it to Mrs. c. Weatherley
for 100000 Mr.. Farley paid about slSoDoo
for the property.
The parcel is 81 feet from the north cor
ner Of 18th street, which was purchased by
Halsey & Flint, as previously reported, for
business purposes.
II was learned last week that the sale OF
the dwelling house, No SO6 Madison ave-
nue., on a lot 16,5xl0O feet, by J. X. Van
vranken & Co, for Joseph Mahan, TO John
S. Scelsa, put an end TO a project to erect
thirteen-story building on the entire
block front. The proposed structure was
10 have been taken under long lease by
a drygoods firm and the three upper floors
sublet to two well-known business corpora
tions.
Mrs Custavia A. Senff. widow of Charles
H. Senff. owns the dwelling house at the
northwest corner of 4st street and Madi-
ecn avenue, the site Of which was to have
formed part of the plot for the thirteen
story building. With that object in view an
option TO purchase her premises was re-
Gently obtained. The option was to have
been exercised If the negotiations to get
control Of the block front had been sue
cessful. Mrs Senh bought the six-story