New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-24
REALTY MARKET
DRIGHTENS UP
Ouietness in Early Part OF
Week Dispelled by Com
pIetion of Big Sales
By ARTHUR T. NICHOLSON

changes very rapidly noMddays. W
were getting ready 10 say that the
market in the week was Gull, disap-
pointing, and also paint its measure
ment in other gloomy phrases, when
the quietness disappeared before
volley of big sales. Consequently, the
closing operations lifted the market
20 such height that there was
food % brightness and good news
everywhere II was, indeed, spec
tacular ending.
William A. White & Sons, Charles
i. Moves Company, Joseph Silverson'
Horace s. Ely & Co.. II. 7. Byrnes g
Co., William H. Archibald. Catln &
Pittman. the United States Realty and
Improvement Company, Morton d
Nichols, Herbert A. Sherman and Pepe
& Bro. are going 10 occupy large
niche I'm our review of the week be
cause Of what they did. We also had
hopes of having John y. Goldlng'
Bryan l.. Kennedy and Clark L. cham
bers right in the centre in this hall
of realty fame, as we had heard ru-
mors that several big transactions thar
they were busy on were near compile
i ton. But they have so often occu-
| pied similar positions I'm other weeks
Of this and other years, that we can
readily excuse them for Disappointing
us last week.
\ deal that ranks "a one OF ne
/ largest Of the year was closed yestet-
day when contracts were signed Tor
/ the purchase by Kennedy, Mitchell
/ Co.. Inc, Of the twenty-one story Office
/ building at d. Broadway and Oil New
81. It Is assessed at over 100000.
/ The property was owned By the New
/ York Real Estate Security Corpora
( ton. of which ". L. G.. Gaillard was
J the head That corporation failed sew
eral years ago.
The building Is in the heart Of the
/ financial district, and includes among
/ It's tenants Hornblower & Weeks, j. ;.
. Bache g. Co., De Coppet & Doremus
and also the general Offices OF large
corporations, as the Anaconda Copper
Mining Company, the Inspiration Con-
solidated Copper Company, the Lam
port & Holt Steamship Line, Malkans
book store and the Stock Exchange
/ Clearing House.
Kennedy, Mitchell & Co, Inc, will
retain for the present its general
Office ut 35 Wall ST., but will occupy
the seventeenth floor at ~ Broadway
for the use Of It's import and export
department and some other portions OF
its operating force
Horace s. Ely & Co negotiated this
; sale.
Frank B. Taylor sold for Charles
/ Frederick Hoffman his residence at
$50 5th sv., five story house, on
lot 25 by 100 feet, "a Columbia College
leasehold. The purchaser is an in
weston, who will probably lease for
business purposes. The adjoining
building, GO, next to the corner OF
50th st.. formerly the home of August
Heckscher, was leased In July by the
London Feather Company.
Pepe E. Bro. sold for the GerbereuX
Company 124 West Washington Place
and Isl West 4th St, two three story
and basement houses, on lot q BY
100 feet, TO Alfred b. Maclay, who IS
the owner OF 1876 and 1913 West Wash
ington Place, running through the
street.
This property, when the lease ex-
pires IN May, will be altered into
duplex studio or studio apartments.
This IL the third sale of of the prop
erty in eight years By the same
brokers.
Herbert A. Sherman sold for Mrs.
Douglas P. Birnie and Mrs. Oliver ;.
Lyford 16 East 65th ST., four story
house. with buffers pantry extension,
to a client who has bought it on spec
ulation. This house Is directly OPP
posite the new residence OF j. ). van
Allen and within one door OF the So
foot house belonging to the J. >. mn
estate. Orme Wilson, jr, has Just built
a handsome American basement house
| In the rear Of this property.
The Charles +. Noyes Company SOLO
TO Joseph +. Cullman, for all cash, %
South st., five story and basement
+ building, covering q lot about Il by
60 feet. Mr. Cullman took the prop
ertv in part payment for $3.50 burning
+ Slip. in a Si25,OO0 transaction.
Another Of the big deals OF the
week was the sale OF the seven story
building at 400 Fifth Avenue, oppo-
cite TitFany's. by the United States
7 Realty and Improvement Company 20
a merchant on the avenue. The seven
story building replaced the residence
If the late Daniel Butterfeld. The
1 United States Realty and Improvement
| COMPANY acquired the site at the
famous auction Of the Buttertield
] realty two years ago. The realty
/ company, after securing the land and
/ the old residence for price or $780,
600. improved the site with the pres
! emit structure, which occupies lot
/ 27x12O feet. adjoining the eight story
+ building completed last year on the
/ adjoining southwest corner OF 3lth ST.
/ By Robert w. Goeet.
The building is principally occu.
pied by Z. Centemeri & Co., who
( leased the building before its con
struction from the realty company for
n period Of eleven years, at net
annual rental of $4,000.
Charles +. Rogers, owner OF the
Prince George Hotel. extending from
9th 70 2Sth st., between Fifth and
Madison avs. purchased SO 20 10 Mad
/ ison av. from the Barnett estate. OF
! Asbury Park. y. J., plot 40x95 feet
which will be used as site for a
twelve story annex.
X will be the third extension Of this
hostelry in about ten years. and as
designed and 70 be built by Mr.
Rogers. will increase the rooming ac-
commodations 100. making a total Of
more than 1900 rooms. in addition TO
extending its dining features.
s3j0.0OO Heights Sale
An apartmet. operation on Washing
ton Heights. involving about S35O.OOV.
is 70 be undertaken as the result OF
deal arranged by Joseph silverson,
as broker. He sold the block front
on the south side Of l72d So, between
Fort Washington and Haven avs. for
the Washington Heights Realty Com
pany. which held t't.e 20 10 since 1908,
TO the Regnis Construction COMPANY
Gustave Schneider. president.
The purchasers viii erect on the site
two six story high class apartment
houses. For The operation M silver
son has procured building loan o.
$4,000 Each house ia 20 contain
accommodations for thirty-two fam
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