The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-03
Fifth Avenue Caterer Will Ex-
change Buildings With tho
Guaranty Trust Co.
MEETS NEW CONDITIONS
Restaurant Will BE Continued
but Some Hotel Features
Will Be Abandoned.


terday. AS result of the transaction
Sherry's--as the restaurant and catering
plant Is known locally and abroad
will move one block south and to the
opposite side of Fifth avenue, to the
premises in the Postal Life Building at
present utilized by the Guaranty Trust
Company as an uptown office, and that
company will take over the eleven story
building now occupied by Sherry and
transform II into a modern bank and
once building.
News of the transa elton aroused more
than usual comment in realty circles
generally yesterday, and particularly in
the Fifth avenue section most intima tely
affected. Representatives OF Louis
Sherry declined to make any comment
or to indicate in any way what prompted
the restaurateur to move. Disinterested
commentators, however. had no hesita-
tion in saying that the transaction was
only an indication OF two things: the
Intention of the banking concern to ex-
pand Its business through the medium
Of increased facilities for uptown pa
irons and a disposition on the part of
Mr.. Sherry to meet changing conditions
by combining his service to the antici-
pated demands of the future.
To Occupy Three Floors.
BY the transaction Mr.. Sherry will not
lose his prestige as a Fifth avenue ca
terer, and the southwest corner Of the
avenue at Forty-fourth street will as
sumo a new Importance.
1t is understood that Mr.. Sherry will
occupy at least three floors of the Postal
Life<Building, and that the restaurant
business will be continued. as far as
changed conditions permit. along existing
lines. Tenants OF apartments and per-
manent guests OF Sherry'sy will. however.
be forced to seek other accommodations.
As one real estate man expressed him
self to THE SUN yesterday Space on
Fifth avenue in this section is becoming
too valuable for private use"
The Guaranty Trust Company VIII
occupy what space II requires in the
building now controlled by Mr. Sherry
and after substantial remodelling Will
lease the upper floors for business pur-
poses. The new banking house. officials
of the company said yesterday. will be
the last word in business modernity.
The Sherry premises. which the Guar
anty Trust Company acquires through
the deal, include the building at 522
Fifth avenue, in which the Sherry candy
and catering businesses are located; the
main restaurant and apartment build
Ing mt SEA Fifth avenue. and the adjoin-
ing building at 10 West Forty-fourth
street.
Only five months ago Mr.. Sherry re-
newed his lease on these premises for
twenty-one years, with renewal privi-
leges for a like period. The owner of the
property at 522 Fifth avenue is Mrs.
Mortimer Brooks. The Brokaw estate
owns the adjoining property al 52i
Fifth avenue, and title to the premises
at 10 West Forty-fourth street Is held
by the Academy of Medicine. Altogether
the three properties have a ground area
OF approximately $4,000 square feet. with
a frontage of 115 feet on Fifth avenue
and $50 feet on Forty-fourth street. MT
Sherry is understood to have asked w.
900, 900 for his leases.
Trust Compnny's Plans.
The building plans OF the Guaranty
Trust Company involve the erection OF
new structures at 522 Fifth avenue and
10 West orty-fourth street, which will
correspond In height and architecture
with the Sherry Building. Cross & Cross
will be the architects Irons & Todd and
Todd Robertson will be the general
contractors. The Guaranty Trust Com
pany will occupy the ground floor. first
floor and basement in the remodelled
building. The remainder OF the building
will be sublet as Offices.
BY the acquisition OF the Sherry leases
the Guaranty Trust Company Ia assured
OF uptown premises In the business sec
ton Cor twenty-one years at least. with
renewal privileges for an equal period.
Sherry. on the other hand. assumes the
Guaranty Trust Company's lease on the
basement grade and first floors OF the
Postal Life Building for only fifteen
years.
Douglas Robinson, Charles s. Brown
4 Co were the brokers' in the trans
action. They have also been ap-
pointed renting agents for the Sherry
premises, which the trust company plans
70 remodel. William Henry Barnum 4
Co acted in an advisory capacity for
the Guaranty Trust Company.
Officials Of the Guaranty Trust Com
pany also declined yesterday to make
any comment on the deal except to say
that the foregoing announcement was
correct and to add the information that
the institution was compelled to enlarge
Its uptown premises and felt fortunate
IN acquiring the Sherry properties.
How Louis sherry Rose.
II was back in 1890 that Louis Sherry
became a figure in the catering bust
ness in New York city. Up to that time
Plnard and Delmonico stood for every
thing ultra in the way of select cater
ing. Sherry himself was a waiter in
the old Hotel Brunswick. The present
business was really founded when
sherry, after an interlude of three years
spent as a steward in the Elberon Hotel
at Long Branch, y. j.. decided to open
up on his own account and cater to the
best that the New York custom offered.
He began in a small way and the story
OF his progress Is epitomized in the fol-
lowing statement from him which was
published in THE SUN on May IS, 1890.
On that occasion Mr. Sherry said;
II was a great deal disappointed at
first because some OF the people who
had so glibly promised to patronize me
at the seashore. and who talked kindly
and fiatteringly to me when | called on
them now, still give all their orders to
Delmonico and Pinsrd. But | reflected
that this was only natural. People
didn't want to run any risks when they
gave entertainments. and Delmonico and
= Pinard were tried and proved and I was
an experiment. ! saw that I could not
expect any large orders. | must estab-
lish reputation with small ones first.
They were very slow in -comins in, these
small orders, but presently they began
to come ina small beefsteak here. a
lunch there, and so on.
II soon saw that my chance OF making
a big success lay in my novelties OF
service Pinard and Delmonico shared
AL NIB I tad 70 or nd he.