The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-27
LORD &TAYL0R'SO OLD
STORE SITE SOLD
Goclets said to Re the Buyers
sellers Ancestor Paid
$4,000 for 1t in 1912.
ASSESSED AT $4,000
Terminal Company Buys 18th
Ave. Block Front for Ware
house Improvement.

A. opportunity to reflect on the en-
t,nccment OF real estate values along
ROADWAY in tho past century was given
,e,,rrdty through the sale OF the south
vest corner OF Broadway and Twentieth
.,r..t. part Of the site vacated recently
h, lord 4 Taylor for Fifth avenue. The
corner. which Is known M sol broadway.
va, sold by Catherine Deanc and Mile
e Bragdon. heirs OF Henry Badeau. who
bought the lot in 1si2. He paid Henry
jackson. Jr. $1,000 for the land. parcel
as feet on Broadway and s+.1l feet
along Twentieth street. On IL was a small
bud ne which Badeau used AS IA grocery
COD and general store for travellers along
he Rloomingdale road. which in those
,a,s was not much more than "A leading
.ountry highway The Bsdeaus never
old the property. and probably would not
NV had Lord Il Taylor not moved to
riuh avenue.
Though George II. Chivvis & Co.. the
brokers' In the deal. would not divulge the
price that WAS paid for the corner. II was
said yesterday that the figure was much
.bol- the value placed ON the realty by
the tax department.. The corner last year
was assessed for $4,000. which 10
r,nety.two times as much as the OLD
sroc,r paid for IT seventy two years ago.
At this rate the parcel has increased
n value si.i60 a year. Much OF it's
value has come since Lord & Taylor
leased the property In 1s7e. together with
adjoining land, as site for their up.
Town store.
The new owner Is an investor. The
,ioeet estate was mentioned as the buyer,
as il owns the surrounding property. All
the rest OF the broadway fronta. Of the
old Lord 4 Taylor store 10 theirs. This
IS TO be altered. according to plans filed
last month. into stores and lofts at cost
Of $4,000. The alteration liz to be made
in connection with the erection of a ten
story building running through the block
from Nineteenth to Twentieth street.
With the Twentieth street corner the
'ioelets could put 10 better advantage
the remaind.rs of the Broadway frontage.
The estate also owns tho Nineteenth
street corner.
Believing that the removal Of Francis
H. Legg-tt 4 Co. to Thirteenth avenue
md Twenty-seventh street will create "A
rev demand in the vicinity for space for
Nholesal, business, John IL Lynch, presi-
dent OF the Terminal Warehouse Com
pany has purchased the block front ON
The east side OF Eleventh avenue from
Tsenty-seventh to Twenty eighth street.
nd will erect a warehouse building OF
lie character owned by the company
rom Eleventh to Thirteenth avenue,
rweniy- seventh to Twenty-eighth street.
John y. Golding as broker sold the
property for the Pennsylvania Railroad
Company TO Mr. Lynch. The three story
hulding now on the site was used as
a cab stable by the railroad until the
opening of the Seventh avenue station
diverted traffic from the Twenty third
street ferry.
The PIC; acquired by the warehouse
'vners has a frontage OF 1875 feet m
Eleventh. avenue and 100 feet on eacn
tree, II is one block east from the nine
story building which the terminal COM
pany leased recently to the Leggett firm.