New-York tribune., 1916-02-09
Gets Big Commission from
Sale of Site Occupied
by Delmonico's.
MAKES LARGE PROFIT
ON SALE OF FLATS
Henry +. Smith Sells Houses for
5000, 900, Bought 20 Years
Ago for S29,50O.

Bryan l.. Kennedy yesterday gath
cred one Of the largest realty commits
sion plums of the year. It's face value
is not less than $4,000. sum which
most toilers OF this world would con-
, slider sufficient to keep them in fair cir
cumstances for the remainder Of their
lives. This sum invested in a New
York City mortgage at 5 per cent would
yield $1,000 year in perpetuity.
The commission was earned by the
sale Of the Delmonico property, at
the northeast corner Of 4lth st. and
, Fifth av, 70 client Of Albert :. Rid
ley, of the law firm of Sullivan &
Cromwell. The buyer takes the prop
erty as an investment The building
on the site is six stories in height, and
was erected about nineteen years ago
for the exclusive use Of DelmOnico's
Restaurant
The sale will not affect in any way
the lease, which has yet twelve years
to run at the original rental figure. and
after that the lessee has the right 10
continue in charge Of the premises un-
der long-term renewals.
The property has a frontage or 566
feet on the avenue and $40 feet IN the
street Computing the front foot value
of the property from its Fifth av. side,
the sale places the mark t value Of the
property az $4,000 for every foot il eX
tends along the avenue.
Mr.. Kennedy, the fortunate broker in
this $4,000 600 deal, has earned many
other big commissions In the realty
market A number Of these have been
over $4,000, and quite a few around
the $4,000 mark. The property IS
owned by the estate of Theodore A.
Hsvemayer. and title stands in the
name of the No / East Forty-fourth
. Street Company.
. Through transaction completed
yesterday. Henry 7. Smith will receive
profit Of 900 per cent for two Park
av. fathouses which he purchased
twenty years ago for S29,500. One OF
the houses. at 59S Park av., southwest
corner Of saith ST., sold by Mr.. Smith
was bought By him for Sl7,500. The
other, an inside parcel, az 58l Park av.,
cost him $4,000. In reselling the fiat
, houses yesterday he Is said to have re-
/ ceived over 100000
In the twenty yea.s that Mr.. Smith
has owned the property he has received
; many fsttering offers. but refused them
all and remained a tenant In ole Of the
, houses. Ten years ago, when the ave
nue. became the promising fashionable
apartment colony, the offers grew larger
and larger. until, not so long ago, he ia
said to have refused an offer of sll0,-
600 for the corner house and ssO,OOO
, for the inside parcel. The purchasers
/. are believed TO be the owners Of five
houses on the same block, title 70
which stands in the name of the City
Real Estate Company. These houses
occupy a total frontag5 OF loo feet, and
adjoin the northerly Smith house. The
southerly Smith house is separated by
twenty-foot parcel at 586, owned by
: William II. Ia leson. The rest of the
Park av. frontase is made up of two
, houses. $50 and J82. at the SD st. cor
3 ner owned by William +. evine. The
Douglas Robinson, Charles S. Brown
Company and Frederick Winant were
; the brokers.
Other sales follow:
18TH ST.-The Mason Realty Com
panv has resod to Frederick Brown
the twelve story store and loft struct-
ure at lO6 East 10th St, occupying a
lot 25x92, adjoining the Pocono build
! ing. at the southeast corner OF Fourth
av This makes the third sale Of tho
, parcel within a month. The selling
o company acquired the property last
week from the 557 Fifth Avenue Cor
poration Benjamin MordecaD, which
; secured it in January from Charles r.
johnson in part payment for the busi-
ness building at 557 Fifth ~.
/, SD SI.-Ihe GOelet Realty Com
pany has purchased from Frederick {.
dc Neau. Of the stock Exchange firm
of +. & c. Randolph, % East Odd Sc
four story dwelling. on lot 16.SXlOO'
adjoining the realty Of r. ". Goelet,
who owns the block front on the west
, side Of Park sy., extending from 53d
to 54th St., which ownership was re-
Gently completed by purchases from
the New York Central Railroad. Sale
, Of the De Neau property, valued az
$50 900. was negotiated by Douglas
Gibbons and Harris & Vaughan
I47TH ST.--1he Mason Realty Com
, pany. Max Nathanson, president, has
sold the Buckingham Palace, a SIX
story elevator apartment house, on
plot l00x99.11. at 541 to 5o3 Nest IA IN
Il. The sellers bought tn property
last November from the estate OF
Bertha Heidelberger. Il contains thir-
~ apartmonts. and is situated 10 rect
east Of Broadway.
27TH ST.-The 1875 Broadway Cor
noration. a subsidiary Of tho Title In
, surance Company, has sold 20 an IN
vestor the two eight story apartment
houses AT 80 10 10 East 18th ST., fac
ing Madison Square Garden. Inc
houses occupy plot l5Xil3, between
, Fourth and Madison avs, adjoining
, the French Church du St. Esprit. TO
which the sellers acquired title last
August from the Nontrose Realty CoIn q
, pany. The parcel was valued az S5OO',
, 600. The 27th Street Company soll
the houses in March, 1913, TO BENJAMIN n
Duke. and he subsequently, traded them
, off with Henry Meyer IN payment ioF
the twelve story apartment ar tne
northeast corner Of West hnd aV' ana
SD 81.
struction Company T. 6. Galardl ana
MAY Justl sold 10 client Of julius
II. Zeiser. attorney, II and s. Seaman
av two five story buildings, each on
nlot 55xfO0. on the west side OF the
avenue. located 50 feet south Of 20'th
~ The houses contain four apart
morts on each floor. are fully rented
And were held a. $4,000
SOUTHERN BOULEVARD-L -Lowen-
field q Prayer have bought from II.
p Fish the two five story new-law hats,
each a0xl3O. on the north side Of ls2t1
e. 100 feet west Of Southern boulo-
ysfd. ss'i In part paymen. the buyers
oave the plot Of twelve lots, 3OOxlOo,
st the northeast corner Of Monterey
Az. and l78th st. Mr. Fish will i'm
nrove the site with five story apart
18th sT.-OReilly & Dahn and L.
I Greenberger resold for Agnes Far
reU to George ". Denton 80 East
f5I.b ~ - three story and basement