New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-07
Grand Union Site To Be
Sold at Auction to the
Highest Bidder
WILL BE JOINED TO
BIG SUBWAY STATION
p. S. Commission Enumer-
ateS Some Possible Profit
able Uses of Parcel

Commissioners Of Appraisal. APP
pointed by the Appellate Division Of
the Supreme Court, last week an
bounced an award Of S3,377,OOO to the
owners and leaseholders of the Grand
Union Hotel property, on the easterly
side of Park Avenue, between Forty
first and Forty-second Streets. The
Public Service Commission proposes TO
place at once this site in the market
for sale, and II is anticipated that
there will be considerable competition
TO purchase il among those interested
in the development OF high class real
estate.
The commission has felt that when
ever property acquired for rapid tran
sit purposes may be released Tor PR
waite development, with good marNe'
euq the prospect of fair return from
a sale, IL is good policy for the CIV!
TO do so. In this case, because OF inc
manifest interest of the public IN gen
oral. and the real estate fraternity ~
particular. the property Will be oHeISu
10 the public before Il is aosoiuIeIy
clear Of the work of subway consIrue-
tion. This will not, however, operate
in any way 70 hinder any proposed
construction. but should, on the cor,
trarv. operate benehcially, as IL VIZ
be practicable for engineers OF me SI.y
and its contractors and the arChi'SO'
of n purchaser TO get together on He
tails of the connection between tn
structure TO be erected and the raPlII
transit facilities. IL is stated by reAl
estate men Of large experience una
there is, perhaps. no other uhueNgIoPeC
~ If like size anywhere offering
sch Great opportunities for diverse
i.;D5s Of bioh class improvement IL
lie understood that Joseph 7. Day VII!
handle the sale of this property a'
nublic auction, as he has other prop
ertv of the commission IN the past
Has Long Street Frontages
The Grand Union Hotel property is
rectangular in shape, with fronIase
If $50 feet on 42d ST., 1877 feet lncheS
on Park av.. $50 feet on 4lst ST. anu
1917 feet 8 inches on its interior me
and has an area Of nearly 45,oVO square
feet The great diagonal express s'e-
ton Of the Lexington ay. subway Is
Immediately beneath part or Ihe sl.e;
with direct access thereto by means ".
common mezzanine, from Wnlch mo!
be reached by elevators trains lot 'ne
central Astoria and Flushing sections
Of the Borough of Queens, and SCI
vice directly across AID ST. TO ZINES
Square, having connections az LnaS
point with the West Side subway IL ~
and by a fve-cent fare with the Nc"
York Municipal Railway system a.
IL is planned also 70 continue the
II #Hnrf nI
this focus Of transit facilities.
In the course Of the construction OF
the subway at this point it was found
practicable to connect the site with
concourse 10 which there are passages
from the Grand Central Terminal ana
such buildings of Importance as the
Hotel Bitmore. the Hotel Belmont ana
the projected Hotel Commodore with
out the necessity Of the payment OF a
fare. This feature will be appreciated
bv hotel men and others having to 90
with intracity travel.
Subway Routes to All Big Points
Within the next few years it will
be possible to travel under cover from
this site TO any point in the greater
cav. reached by rapid transit, and by
the steam railroad systems entering
the city. as II rs planned 70 nave ui
connection between the West Side sub
wav and the Pennsylvania Railroad
Terminal. When the Hudson-Manhat-
tan tunnel plan is completely carried
out IL will also mean that similar, con,
nections will be had to the railroad
terminals in Weehawken and Jersey
CITY and with Newark. Before the
Hudson-Manhattan tunnel plan will be
nut into effect it will be possible by
the payment Of an extra fare TO con
meet with the New Jersey system at
Saith ST. and Broadway without coming
TO the street surface.
"The volume of traffic now passing
through the Grand Central Terminal
is approximately twice that OF the
PENNSYLVANIA Railroad Terminal. and
the present Grand Central station OF
the marlborough system has the most
corgested traffic of it's kind in the
world" saws the Public Service Com
mission. at is therefore no eNag,
geration TO state that the old Grand
Union Hotel site will be in intimate
connection with the densest passenger
traffic in the world. Forty-second st.