The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-09
N,8OO,OOO FIFTH
AVE. CORNER SOLD
lewis Property at 18th Street
Bought by Group Of New Eng
land Capitalists.
sITE FOR TALL BUILDING

Tho Lewis property at the northeast
.o-ro- of r'rth avenue and Thirty seventh
,,,.e, which THE SUN in July announced
rss tho subject Of negotiations tending
"a a safe was finally sold yesterday.
,bsn contract wss signed in the Office of
,o,sy 4 C.ms'ock by the Lewis interests
,,d tho Murray I'm Investing Company.
, comreny ~ New England capitalists,
,,op. q 500 600 was paid for the prop
,,,v which is al feet along the avenue
,,d l25 frrt IN Thirty--eventh street
Tho nov Owners who by the way bought
,ss H-uusw.ck Building on the east side
n, FIN avenue fr m Twenty-sixth TO
rvertv-srycn'h street few years ago.
.4l improve the Thrty-seventh street cor
nor with a tall building.
A, ars1t.r' has not been employed
%, ~ aIv.s g" the new owners. but their
tsas = what sort OF building IL needed
o.. .re ss,'fpu are pretty definite. Their
40, is 'o erect twelve story building
4, the host 90 Instruction and most modern
..yie I building that could readily be
,,,e- o., department store should any
q, those roi on FIFTH avenue care to To-
.s,s IN 'rt' street There has been a
srfr
rrh avenue * planning to locate there.
rNo.o who snov the affairs OF the Murray
m Rea,'. company claim the building
4, m, - Doe erected for any prospective
tenant
The tyne NJ building that will he erected
NAV he Judged by the fact that tho new
COMPANY plans to spend $500 900 on
., construction. This will bring the cost
o.. re re~1,Ion w to $4,000, 900. which
vii MAKE - one Of the most costly for
IL size or FIf'h avenue.
The properly IA vacant and has been
90 for r,ur wears The house having been
vacated be IN" Lewis family for a loca-
Inn outside 'he trade section. the prop
.r,y was rut on tho market NJ trouble
e.. expected In selling. as Fifth avenue
a. ire 'Iwa was the centre OF the big
tnirgs IN real estate. Properties were
changing hands almost overnight and at
Nc profits Tho Lewises wanted more
han 3 oo0 600 for II. which was much
r,~e than -h pkeepers and real estate
sp>cu'ators were wiling to nay for $3.50
s1ua-c foo topped bv mansion once
IA, ~ Edwin = Morgan. Govern OF
New York during the civil war. There the
proper,v s,ood. at $4,000. 900 and not n
cert less
A deaf was started to take the block to
department. store now on Fifth avenue
Il was q 5000. 900 operation and the
Lewis family was 10 get what they were
astlnR for the corner. But William
Srhaus art dealer held n lease on the
building In the centre OF tho block. which
10 would not relinqush for less than
t!?s nno That put an end to the deal
The Schaus estate sold the lease few
years later 90 Mrs. Elizabeth Anderson
owno- 81 the fee Of the property. for
$4,000
To make their property more attractive
ne Lewis estate removed the old house
'Nsrehy saving for the prospective buve'
ne cost ~ removal and at the same time
saving taxes FOR the estate while the
n-ope-'v remained IN It's hands Since
hen several offers have been made fol
ne corner. hut none would be entertained
because 'ess than s2,000,O0o.
TNe Lewis estate bought the corner
rom the estate Of the war GovArnor nj
New Work In 1855 for S3s5.06O. which
s less than quarter OF what II gets
row for tho reality.
A. q 5000 the Murray fiil COMPANY
has paid Sla4.33 square foot for tn
corner or S2432n a front foot, figur'
which is among the record prices pale
'nr Fftn avenue real estate. The Location
IN tho centre Of the best shopping dis
'rlct In tho country II IL about the las
to' Of any size under one ownership
between Thirtv-fourth and Forty-secon'
streets that can be had for improvement nj
ALVIN Fall Jr. Of Frederick Southack
ALVIN Rail Ir. was the broker In tn
ds. Olnev 4 'omstock represented III
MURRAY HiN Investing Company, whicl
vas Incorporated At Albany I'm July b.
Henry rapliu. Thomas q. Durham AM
william " Raudel, Henry y. Tiff LOOKED
a,,ar ,F. Interests Of the Lewis estate