New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-20
Farm Days in Gotham Re-
called by Transfer of No.
274 Madison Avenue.
SOLD BY J. GELLATLY
TO WEALTHY WOMAN
Transaction Regarded by Realty
Men as Index TO an Increas-
ing Volume of Trade.

\ real estate transaction involving
about t2lo.eo0 was made yesterday which
recalled the days OF old New York, when
the Middle Read was one of the principal
thoroughfares in the central district Of
Manhattan. The deal was the sale Of the
premises NO "a Madison avenue. four
story and basement dwelling house al
tered FOR business purposes on the ground
and first floors. II has apartments Up
stairs. one OF the apartment occupants
being Miss Kitty Cheatham. the actress.
The property was sold for John Gellatly
10 an investor According 10 report. Her
bert A Sherman negotiated the sale.
The Middle Road ran from about 1870
20 1860 in an oblque line from the East
Side over Murray Hill To 42d street and
Fifth avenue. 1t almost touched the site
on which now stands the home of the late
J. PIcrpont Morgan and at 39th street
IT bisected a site which was long owned
by the late Henry Breyoort and Of which
NO. ga Madison avenue is part
The dwelling house No "a stands al
most in the centre Of the former Brevoort
property. and its yard is a remnant Of
the old Middle Road.
The buyer Of the Madison avenue house
Is a woman, member Of an old New
York family. The purchase was consid-
cred in real estate circles to indicate a
much broader demand among investors
for income properties in this rapidly grow
ing retail trade and hotel zone.
When the Middle Road ran across the
property the land was used for farming
purposes, and $50 was about the yearly
rental charge for the use OF many acres
in that part Of the city. The yearly fee
then for the use Of this parcel was not
more than a couple Of dollars; to-day
the net annual income from the premises
is many thousand dollars.
More than a hundred years ago No. PA
Madison avenue formed a part Of the
common lands" of the City Of New York.
II was the custom Of the Mayor and the
Board OF Aldermen 10 lease these lands
for farming and grazing purposes nj
small fee. Later the lands were disposed
of TO various buyers for nominal sums.
on January I, 1905, the city granted IN
fee simple the right OF ownership TO the
property 10 Levinus and Nicholas clark
son, who apparently were farmers. on
the old maps Of that time are ink sketches
of a Colonial farmhouse which stood at
the northwest corner OF seth street and
Fourth avenue and other farmhouses, at
about the northwest corner Of 4Oth street
and Fifth avenue. In front Of the Fourth
avenue house was a large pump.
Henry Brevoort got title TO the property
known as No. pa Madison avenue and
much adjoining land about 1926. At the
time he took title "sunfsh pond was
where the old Fourth avenue car barns are
! now
The FISH pond" property then was con-
sidered worth only tri1ing sum; now
| II is valued at several million dollars.
Brevoort died in 1s4S. and under the pro-
visions Of his will all his property passed
to his heirs. No. ga Madison avenue was
one of the parcels that his daughter, Eliz-
abeth y. Breyoort, who married Frederick
W Coolidge, got in the partition OF the
| estate.
The last owner Of record Of the prem
| Uses is John Gellatly.