New-York tribune., 1919-04-13
Space Shortage Forces
Law Firm to Buy Offices

Purchase last week Of the building
at 3s Pine Street by Bandy, Mooney
& Shipman, lawyers, for their cxclu-
slvc usc recalls the days, many years
ago, when all New York's leading at
torncys had exclusive business homes.
II was mark OF professional position.
The erection Of tall structures down
town brought about "A change in bust
ness occupancy. High values placed
on realty because of the development
Of the skyscrapcr led to the dcstruc-
tion not only of old structures, but
the old idea regarding exclusiveness
and soon the greatest concerns Of the
city were to be found in the tall bust
ness structures of lower New York,
which were superior in every respect
to the former business structures of
tho city.
Pine Street held a number of these
exclusive business buildings, many of
which were the homes of lawyers
whose names are part of the early his
tory of New York and the nation.
Alexander Hamilton, the great expan-
sionist; Aaron Burr, his political op-
poncnt, and many other attorneys
whose names have figured in cases
which are history to-day, had Offices
in the Pine Street blocks from Broad
way to William Street.
William l.. Stone, in his history of
New York, published in 1872, speaks of
the dignitied appearance of the build
ings on Pine Street as the homes of
learned members of the bar
The demand for offices. which led to
the destruction Of these old law offices,
and the failure of builders to erect
more skyscrapers seems to be work. ing
in the interest of the exclusive bust
ness home. Several banking concerns
have erected buildings for their own
use in the last few years, but Blandy.
Mooney G. Shipman are the first law
Of having their own business building.
De Witt Lockman e. De Witt is the
only law firm that has building of it's
own. 1t is on the east side of Nassau
Street, just south of Fulton Street.
Several generations of the same firm
have occupied this building starting
about century ago.
There is SO little space for rent in
the business section that concerns are
forced to buy. This was the case with
Blandy, Mooney e. Shpman They
have occupied the sixteenth floor of the
Equitable Trust Companys Building, at
81 Wall Street, since the building was
erected years ago. They had no desire
to leave, but the trust company wanted
the space for subsidiary, and is under
stood to have refused an extension of
the lawyers lease. Large Offices we're
not to be had downtown. They had to
find premises and decided that the sou-
tion of their problem lay in the prr-
chase of place.
William A. White e. Sons had much
to do with the lawyers coming to this
decision. They were for renting, but
the brokers showed them there was
nothing to be had and that it would
be some time before large premises
would be available. Concerns in pos
session were not surrenderng their
leases for any amount of money
The building has been bought from
the Underwriters Building Company.
which was represented in the deal by
the Charles F. Noyes Company. The
Mercantile Bank Of America holds it
on lease. but will vacatc the place
within the next few months, ms it is
too small for it's needs. The building
is six stories high and 23.7 feet wide.
iust west Of William Street.