New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-09
Property He'd at $l,OOO,OOO-
Burtons Get $5,500,000
Loan-Other Sales in
the Realty Market.

/ Business has claimed another fine Fifth
3 avenue home. The latest structure that
will I'm the near future be demolished COR
such use is the property of Mrs. Amy
/ c.. Galatin, at the southwest corner of
sd street II was sold by the Cruik-
shank company 10 the Dreicer Realty
! Company, of which Michael Dreicer IS
president. The property has been held at
100000. and it Is understood that the
purchasing company paid close TO that
amount.
The house, which is directly opposite
81. Thomas's Church, has not been occU-
/ pied by the Gallatin family for a few
/ years. owing to the rapid business In
vasion I'm this section. 1t is a four story
| and basement structure, occupying a plot
with frontage of 5O5 feet on the avenue
! and 1OG feet i'm the street. The property
/ was purchased in 1881 by the Gallatins
who occupied it until four years ago,
/ when ii was leased by Brewster & Co,
! who removed their carriage salesrooms
+ to it from Broadway and 10Th street
! This lease was for a long term of years
+ at an annual rental of $4,000. 4 few
months after the lease mad been closed
I Brewster & Co. were offered an annual
rental of $1,000 but the Gallatins de-
! clined TO agree to the substitution ct
tenants. preferring to buy back the lease
for which, II is said, $4,000 was paid. The
Brewsters also desired TO erect new
structure, but the GaIatins. wishing II
preserve their old homestead, would not
allow it to be taken down.
Mr.. Dreicer will use the site for two
low business structures. five or six stories
in height The exterior will be similar
IN architecture TO the adjoining Wander.
bit homes. and will be designed by Henry
Otis Chapman.
/ loan, in which $4,000 is involved
was procured on property further south
i'm Fifth avenue. +. V. & J. II. Burton
owners of the parcel at Fifth avenue and
18Th street. with an a. extension TO 39th
street, which they recently leased to Lord
& Taylor, have arranged with the Pru-
Dental Insurance Company, Of Newark.
for a loan OF the sum mentioned at per
cent on the land and the proposed s., 100, 90.
building they are TO erect on the site for
Lord q Taylor The Prudential Life has
not been a frequent lender on Manhattan
real estate. The business will be attended
90 for the Prudential by the Title Guar
antec and Trust Company.
Gibbs & Kirby have sold for NJ. Jone,
the northeast corner Of Broadway and
103d street The property has a frontage
OF 90 feet on Broadway, 375 feet on 1885
street, 1911 feet on the northerly side anC
iG72 feet in the rear. The Mayteld Con
structlon Company, Of which J. c. Me
CURE is vice-president, is the buyer Thi!
company owns surrounding property
With the additional purchase it now con
trolls plot of 5000 feet The parcel SOLD
yesterday was held at $4,000. The former
holdings were purchased by the Mayhec
Construction Company last spring
! through the same brokers.
Douglas L. Gilman & Co. have sold fol
the estate of Oren bennett No. - East
6Sth street, a four story high stoop dwell
ing house. on I, lot 206xlO0 feet, 10 feet
east of Fifth avenue. The buyer Is Rich