New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-29
Big REAL ESTATE
DEALS IN FIFTH AV.
1,25O,0OO Lease for Build"
ing Planned for Former
Altman Home Site.
PROPERTY RECENTLY
OWNED BY RYAN SOLD
Macmillan Company Buys Par
GELS in Lower Section -32d st.
Sale Involves 100000.

The home Of the iato Benjamin AT
man. together with MS ar, gsllery
building adjoining o. the northwest
corner Of Fifth Avenue and Fifticth
Street. will be replaced with six story
building. 20 be occupied by \. De Pima.
importer. Who has leased the proposed
structure for twenty-one years az an
aggregate rental o. Si,250000
The deal was made b. Clark 7.
Chambers. The property IL a Colum-
bIa University ieasehold and was pur-
chased by 4. Grayson Martin earlier
in the year from the Altman estate.
Later Mr.. Martin assigned mia lease Of
the property o the newly formed SOM
orworth Realty Company. Of which
Ralph J. Shaiuwald u president. which
arranged through Frank b Taylor for
nm extension Of the lease with the Co
'umhia trustees. The plot. 35.5Xl@l
feet. viii be improved with a building
n keeping with surroundings from
plans by Henry OTIS Chapman. IL is
expected 70 he ready FOR occupancy
by January !.
The Macmillan Company. publishers,
located for many wears AZ 81 and SO
Firth avenue. have purchased the
uortherly half Of the Thomas +. Ryan
property al the northwest corner or
Fifth avenue and Twelfth street. The
publishing company is A. present add
ing two stories TO It's story home, and
the new purchase was made with two
fold purpose. For the time being the
new acquisition will remain as II is 20
preserve the light Of the publishing
building. but eventually the site will be-
rcimproyed with an addition 70 IS main
building.
Tho Ryan property jus, disposed Of
comprises 3 story dwelling az 81
Fifth Avenue. on plot 5i.6Xl25. L also
includes a story dwelling at the rear
at II West Twelfth street. 25Xl03.3.
With this purchase the Macmillan Com
uany now controls a frontage Of l03
FEE. on Fifth Avenue. with 25-foo'
~" on Twelfth Street. I. II. Ludlow
& Co. were the brokers In the trans
action.
The property Just sold. together with
the immediate northwest corner OF
Fifth Avenue and Twelfth Street, was
purchased by Mr. Ryan FOR his resi-
dence about fifteen years ago. The
combined properties measure lO3.3N
$50. M RYAN moved from there sew
eral years ago to his present home, at
SIS Fifth Avenue. between SiXty-sev-
onth and SiXty-eighth Streets. He hes
been asking 100000 for the lower
Fifth Avenue site. Recently he Trans
ferred the property 20 the II West
Twelfth Street Company. acting for
himself. but handled by Robert r.
Bowling. president OF the City Invest
ing Company.
John ri. Berry & Co. Inc. have sold
for the Lenox Hill Realty Company the
story Sobel Building, 25-S West
Thirty second Street, on plot 4SxlO0.
Tie building was erected for the pres
ont tenant. Nathan Sobel. who occupies
il for his own business under a twenty
one wears net lease.
The buyer il John S. Melcher, who
recently purchased through the same
brokers the 10 story building. l53. 10y
West Twerty-seventh Street. leased on
? net basis for long term or years.
In the present trar saction Mr. Melcher
oives in part payment the Q story Office
building y ard 80 East Twenty-elghth
Street. adjoining the northwest corner
Of Fourth Avenue. or plot 4lX9s.3.
he deal involves 100000.
Other sales follow:
losrH ST Lewis " Taisr has sod Tor ~.
estate ~ Tstheriuc REILLY 302 West ieS'h a., nfe
story American basement dwelling house on j" ".
10 II feet adjoining the southwest corner NJ "''1
vud az The bu'er sili o. up.
isTU ST Richard Elliott has sold Tor James
J CIo,seu 10 Bernard Block Tor Investment ~
49, ietI 81 Ave story naihouse. m lot 4. IA
l0J.. Zee, between seventh snd fishih ~" re
hu,t~ he, occupied AL apartment n the mouse Tor
i0lST ST Tie y II Jackson COMPANY ha' 'o'f
to A client % John Girou ." A. l"lt ~
i've stony fathouse on 10y -'hi'' l'''' ''" ''''
,un sy o.. t.t
LAFAYETTE A. Samuel cosen has iesp'I ~
o.. Gland Brothers iic b.Dch front -n'fl'e fci 'i
tl. .o,,fh .iIe n IdfatcIf. az between -. gcAo.
a. ar. Whittier 80 also the plot l'Nsloo ~. d.
.ts rcrfn,,e,. cor'er ~ LsfaJfffe Az aru Nhi'lfr
Tho .el'er. acquired the properties ahou, i"p
,,se.s ago from Eipsfd R1chl.