New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-11
Mandelbaums to Erect 16-
Story Building on
Wilson Site.
GUARANTY TRUST
TO BE OCCUPANT
Alliance Realty Sells Dyckman
District Plot to Com
pany.

to make their initial bow on Fifth av.
as builders Of business building.
They have been largely identified with
apartment house building on Washing
ton Heights. Representing the new
5l1 Fifth Avenue Corporation, they
have bought the Richard 7. Wilson
estate property at the southeast corner
of ADD st. and Fifth av.
John VI. Stoddard and Henry Marx
are among the directors of the corpo-
ration. The Douglas Robinson, Charles
S. Brown Company effected the deal.
The following mortgages affecting
the Wilson property were recorded
yesterday:
9Th Av., e cor ADD st, elk; AID
st, $, 1O8 5th av, 15x25.5, u part;
Add st, s, 1913 9Th av, 10x100.5, 1-3
part; 5l1 9TH Az Corpn to NJ 0 Will
son ct al, exrs; due as per bond,
sl,150,0O0
SAME PROPERTY: same to Guaranty
Trust Co of n Y prior mtg $780,
O00); due May 1, 1917, s p c,
SAME PROPERTY; same to II Mandel-
baum prior mtg $3.50, oOO); due as
per bond, 100000
The building contract filed was as
follows:
9TH AV and 43d st, cor, 6211x1OSx
irreg; AID st, S, 108 9Th av, 1ox
25.5, ~ part, and AID st, s, 1913 9Th
av, 10xl00.5, 1-3 part; Guaranty Trust
Co of New York loans 511 9Th Az
Corpn "a Is sly commercial building,
payments), S3O0,OOO
SAME PROPERTY; Prudential lnsur-
ance Co of America loans same { Is
sty commercial building, $l,250,0OO
The deed transferring title to the
property read:
9TH Az, cor Add st, runs e 108x S
25.5x 15x 5 37.6x W 1913 to av n
62.11 to beg. all of; Add st. S, 1O8
9TH av. 15x25.5, Y part; AID st, $,
1913 5th av, 10xl00.5, l3 part; NJ o
Wilson ct al to oil 5th Az Corpn
mtg s1,150,00O), Sl,2OO,OOO
Harry Fischel was recently reported
TO have purchased the property, but
those negotiations were not completed
The new structure. which is 10 be
from plans by York e. Sawyer, will be
built by the Columbus Circle Construc-
ton Company, which erected the Hearst
Building, at 59th ST. 1t is to be called
the Guaranty Building, and will occupy
a site fronting 621l feet on Fifth av
and 10S feet in ADD St, with a southerIy
line measuring 1913 feet.
The sum involved in the sale, lease
and building project is more than So
600 900. and the Prudential Life In
surance Company has agreed to make a
loan of Sl.25O,OO0. This loan will run
for term of twenty years, acting both
as a building and a permanent loan.
The demolition of the present build
inCs will be undertaken at once, and 1t
is planned to have the new structure
ready for occupancy by June, 1916.
The lease to the Guaranty Trust Com
pany involves the store, basement and
first floor and is for twenty-one years
The space will be used as its Fifth av
branch.
Negotiations are said TO be well adj
vanced for leasing. the three hoors
above this space to a very prominent
concern.
The building will enjoy unusual
light. as its northerly neiRhbor is the
Temple Emanuel, which has refused
all offers for the site.
The plans are so designed as TO
meet the requirements Of the Guar
anty Trust Company for the space 70
be occupied by them, including sale
deposit vaults in the basement. Inc
remainder Of the building will be Of
fered TO tenants. The plans call Tor
Offices being light on all sides, the
floors open, having no columns, thus
making it possible 70 arrange the
floors in any way convenient for ten
ants of the building. Applications
have already been made by prominent
business concerns for several OF the
floors. Stoddard e. Mark represented
the purchasers as attorneys, ana
James A. Edwards acted as counsel
for the Wilson estate. :,
The Alliance Realty Company, W. NJ.
Chesebrough, president, has so Id the
nlot. 150x100 feet, on the north side
Of 2l4th ST., 200 feet east of Tenth
nv. The purchasers, the II. NJ. Con-
struction Company Messrs. Herman
ard Minskof) will erect on the prem
ises two five story apartment houses
each Is feet in frontage, to be OF the
most modern type. The entire opera
ton will amount to about S2OO,OOO.
4 rrancements have been made with +.
A. Snow for a building loan, and 1t Is
pxnected that Andrew ]. Thomas VIII
be the architect.
Most of the building in the Dyck-
man tract has centred around 2Oitn
81 and has been west of the elevated
subway structure. However, the sale
~ this property for immediate I'M
and the recent sales for
Improvement Of property on 2l2th and
213th SITS. By the City Investing Com.
nanv and the sale by Max Marx or
nroDerty on 2l5th St, all situated east
~ the subway, indicate that the
builders and owners in this section
are commencing to realize the posi-
biIities of this area of unimproyed
land living so convenient TO transpor-
teton This is the third plot IN the
Dvckman tract which the Alliance
Realty Company has resold for pront
in the last two years. Arnold byrhe
G. Baumann were the brokers IN the
transaction. The II. NJ. Constructor
Company is just competing a build
ing operation on the corner Oh 'a1eh-
tine av. and lSSth st.
George V. McNally has sold group
Of ten lots for Mrs. Gertrude German:
The property comprises frontage OF
l25 feet on the south side oil ISOth
a. and a similar frontage on the
,ortb side OF ls9th ST., beginning l25
feet east of St. Nicholas av
Tho purchaser is a prominent build
.r who will form a new company for
tho improvement of the lots with four
Eve story apartment houses, each COW
ling frontage of 62.6 feet. The
saie Of the property is the first since
$50 when the father of the present
seller acquired the land from Alfred
The proposed improvement will be
Tho frst in this block, but IN the i'm
nediate vicinity 10 less than six sepa-
,ste operations, involving thirteen five
and six story buildings, have been