New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-07
/ aird Sells Fifth Avenue Prop
erty Adjoining Home, but
Gets Right Buyer, at Loss
of S375,000.
FINE RESIDENCE TO GO UP
Now He's Assured of Living in
Exclusive Block, Where
Every One Will Have
Plenty of Light
and Air.

Andrew Carnegie has sold the plot,
40 by 1919 feet. at the northeast
corner of 91st street and Fifth avenue
ina well known man who will erect on
this large site a house for his own oc-
orrsncv. With this sale he has now
a,nosed of most Of the properties
ubIch he bought in 1895 or few years
later TO protect his home and also the
high class residential character Of the
neighborhood.
Mr. Carnegie has been careful in his
search for congenial neighbors. and
This explains why il has taken him
si,een years TO find a suitable buyer
for the property to which he will trans
fer title in a few weeks.
This search for congenial neighbors
mas cost Mr.. Carnegie many thousands
Of dollars. For instance. the plot
which he has just sold had been offered
at about SSOO,0O0 1t is said that the
purchase price is considerably less than
that figure. Experts agree that a CON
ssryative estimate of its value in the
last fifteen years is 100000. which
sum at 8 per cent would return
vesrly income Of $4,000. Fifteen
times $4,000 is $4,000, which is one
way OF figuring what il has cost Mr..
Carnegie to find a person who could af-
ford to build on the premises and who
would be agreeable to him as a neigh
Dor.
The Carnegie home occupies the en-
tire block on the east side Of Fifth ave
nue from Goth to 9lst street. At the
time he made that purchase, in 1898.
for Improvement with dwelling house
for his own use, he also became the
owner Of the greater part of the block
front just north, and also Of many lots
on the north side Of 91st street just
east of the avenue. He also bought
some old dwelling houses in the rear Of
his home site.
The premises at Nos. : and East
Slst street he disposed Of in 1902 for
Improvement with dwelling houses, and
on those plots now are two big dwell
ings, one occupied by Mr.. and Mrs.
James A. Burden and the other by Mr..
end Mrs. John Henry Hammond.
Each house has a frontage Of over 90
feet They were built under an agree
ment that the westerly house would al
ways have its air and light conserved
BY strip of land bordering.
Ar. Carnegie, il appears. forgot about
the reservation provision when he sold,
some years ago. the plot Of about 20
ieet adjoining the premises No. 1 East
slst street without any restrictions
olher than that the property was TO be
exclusively used as a modern dwelling
house site.
General Lloyd s Bryce was the
eaysr In that transaction He how
ever never got title 10 tie property, as
us pendens was filed soon after the
's'sls OF the sale were made public,
"e notice serving TO remind the iron
Master that he had overlooked one OF
ns most important clauses in the
0seos relating 10 the sale of the Ham
mono and Burden properties.
A' carnegie lost no time to show
us' he would shoulder whatever ex-
'Vn'e MS oversight had involved. Her
WI A. Sherman was the broker in
us sale General Bryce soon after
safo round another suitable site. Mr..
Nunegle now reserves the light and
sf strip.