New-York tribune., 1919-09-12
''Movie" Company Buys
Block i'm Times Square
Putnam Building and Westover Court, Between 43d
and 44th Sts, Have Been Taken by Famous
Players-Lasky Corp; Big Profit for r. E. Simon

Putnam Building and Westover be-
tween Forty third and Fortv-fourth
Street sold recently by Vincent Astor
has been bought by Famous Players
Las y Corporation for its headquar-
ters
The Putnam building on the west side
OF Times Square between Forty-third
and Forty-fourth Stree. and Wcstovcr
Court, IN the rear, were purchased yes
terday by the Famous Players -Lasky
Corporation as its headquarters. The
picture corporation paid the price de-
manded by Robert E. Simon rs head
Of the syndicate of real estate men
who last June purchased the property
from Vincent Astor. The property is
assessed at $3,40o,0O0
What Mr.. Simon paid for the prop
erty is not known, nor would he say
what ne sold it for to the Famous
Players. He admitted, however that
RS profit was the largest he has ever
made and expressed the opinion that
it was about the largest any real
time. Mr.. Simon has been in the real
estate business for more than twenty
years and has been identified with
many big deals where profits were
large. The fact that this transaction
has been more profitable than any
previous one gives plenty Of room for
the imagination.
: ~,
Famous Players Lasky Corporation is
part Of a great business campaign
which is expected to rcvolutionize the
motion picture industry the plan be
ing to Mtcrnationalize and expand the
operations Of the company, the direct
ing head being located in q building
that Will be erected on the site of the
Putnar. Building. TAis structure viii
not be erected for another five years
because Mr.. Stanley wants $4,000
FOR he lease he holds on space in
the Putnam Building. His lease will
expire in five years. when the build
ing plans for the Broadway frontage
Of the block Will be ready for execu-
ton.
II the meantime y estover Court,
the group Of old dwellings which have
been developed into a fine home for
bachelors. viii have been removed and
Tho site improved with a thea re for
moving pictures. The theatre will have
a seating capacity greater than any
theatre III he city. 1t VIII not only
be building Of grea, capacity, but
one which from an architectural
standpoint viii be the finest in the
world. Adoiph Zuker president Of the
Famous Players -Lasky Corporation
plans 20 make this the premier cinema
theatre IN the world, and money Will
not be spared in carrying through the
ideas he has in mind
Plans FOR the Broadway frontage Of
the block are not so definite.
The Putnam Building is a freproof
structure erected about te. years ago
by Col. John Jacob Astor. and was
named the Putnam Building because il
was on the site of the structure where
General Washington and General Put
nam met and had hurried conference
as TO ma ahould be done to halt the
British who We're harassing the re
treat Of the Americans following the
battle Of Long Island.
The building fronts 200 feet on
Times Square and 100 feet on each
street. Back Of the building is a
group OF ten four-story buildings
which III the old days were known as
Keystone. These ten buildings have
a frontage of l07 feet on each street.
lhe income from this property and the
Putnam Building was about $4,000
Mr.. Aston sold the two parcels for
cash and Mr.. Simon and associates
obtained a mortgage Of S2,500.0OO
on the proper from the Metro
po!itan Life Insurance Company.