New-York tribune., 1919-01-10
Wide Range of
Buying Big
Feature of Day
Frederick Brown Again
Leads Trading Takes
$350,O0O Loft Building
Murray Hill De a l
schoonmaker Dwelling, on
Madison Ave-, Bought;
Thebaud Place Is Sold

Big properties. both in dimenso
and value, were sold yesterday. The
trading affected the ownership of u
loft building, Murray Hill dwelling,
several residential parcels on the East
and West sides. flats in The Bronx,
building sites in Industrial Long ISL
and City and large country properties,
including an estate we'll known and held
high in the market.
Frederick Brown provided the big
news of the day, buying a loft build
ing in The midtown section held for
sale at $350,000 by the District Hold
irg Company, of which Edwin II. Hess
is the president. On Wednesday Mr..
brown bought s5O00O0 Bronx apart
mcnt, the Great Northern, which he is
understood to have practically lesold.
The loft building acquired yesterday
is at 40 and az West Twenty seventh
Street. 1t is twelve stories high and
covers site IS feet wide and 98.9 feet
deep, between Broadway and Sixth
Avenue The structure is fully rented,
as. most commercial buildings are at
this time. The tenantry paw rentals
totalling S39,350 year, which on the
lace of it would indicate very good
investment. Mr. Brown said that he
raid cash for the building. 1t was
erected several years ago when the
demand of manufacturers Of light COM
modit1es was for premises in that part
OF the city. The movement to blocks
north of Thirty fourth Street and near
Fifth Avenue did not help this district,
but the establishment of trade zones
and the work of the "Save New York
Committee" have produced demand
for space in the midtown district as
great as, II not greater than, in the days
before the movement to the north of
Thirty fourth Street was launched. 1t
would be no surprise to learn that Mr..
Brown had rcsold the building, be-
cause he is noted for quick turns, as
all who follow the real estate market
must> know.
$4,000 Murray Hill Dwelling Deal
Tie residence of the late Sylvanus
L.. Schoonmaker. chairman OF the board
OF directors of the American Loco
motive Company, at 239 Madison Ave
nue., was sold yesterday by Pease &
flllman for his estate. The house is
Mr.. Gilman will be occupied by the
buyer, who was represented in the legal
side of the transaction by Samuel
Kicker, jr., who himself is 2 resident
Of Murray Hill. The dwelling is on
the east side of the block between
Thirty seventh and Thirty-eirhth
Streets ard next to the old South
Church property at the southeast cor
ncr OF Madison Avenue and Thirty
eighth Street, which August Heckschcr
bought about two years ago for the
purpose of erecting an apartment house
on the site, which plan the courts up-
held despite the opposition of residents
OF Murray Hill that it was an infringe
ment on the Murray Hill restriction.
On the block to the south is the
Morgan home colony and diagonally op-
rcslte are the George Baker family
homes. The Schoonmaker house is
TOUR stories high and covers a lot
25x100
Anothe: interesting feature Of the
current market is the selling of prop
erty by banking institutions. which in
dlcates either low prices or refnanc
ing of these properties, since most of
them were taken over in foreclosure
proceedings