davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26

prices for property in that general sec
ton. The city has placed a valuation
of from $4,000 to $2S5,O0O on lots in
the south side of Forty-second Street.
the block between Sixth Avenue and
Broadway, and the cheapest lot on the
north side Of this block a parcel 2Ox5O.
is $4,000.
The northwest corner of Sixth Ave
nue. and Forty second Street, which
sold for few thousand dollars at the
auction, is easily worth $4,000 ex
elusive of the building on the site. 1t
is a question whether the southwest
corner of Sixth Avenue and Forty
second Street, exclusive of the build
ing, which is rented on basis that
totals SIX figures year income, could
be purchased from the present owner
for the tax valuation. which is $4,000
Beaux Arts Corner for $500
The BeauX Arts. at the southeast cor
ner of Sixth Avenue and Fortieth
Street, is q mighty valuable business
location, all will admit 1t is known
far and near as one of the New York
places of amusement. In view of the
thousands Of dollars taken in by the
management every day it is hard to
believe that $500 q lot was as much as
Auctloneer Blocker could obtain for
each of the lots covered by the Beaux
Arts restaurant and hotel, and that this
was the price that obtained for each
OF the lots in the Sixth Avenue front
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Business Realty
To Be improved
BY Purchasers
Office Structure l. Planned
for West t2d Street;
Will Erect Low Building
on Broadway Corner

The Broadway-John Stree, Corpora
ton. Elias A. Cohen president. has
purchased from the EranAir Trust
Company Of Philadelphia 1888 Vest
forty-seconG Street. d fivc-story build
ing, on d lot 20xl00, between Broadway
and Sixth Avenue. Miss II. Freud was
the broker. The building. which IS nov
under lease TO Huvler's. is 70 be re-
placed with an eioht-story Office buI!c-
nag. II adjoins the Acker, Norriii q
Condit Building on the east.
Miss Freud also has leased for Mrs
Emily Behrens the four-story building
at 243 West Fortv-second Street. for
term Of fifteen Years The lessee ~h'
establish nigh grade restaurant or
the premises.
improvement for Broadway Corner
William B. May & Co. have sold TO
client the group Of buildings compos-
ING the northwest corner OF Broadway
and SiNty-seventh Street for the Coas'-
wise Warehouse Company. having
frontage on Broadway Of 50 feet by ioi
feet on SiNty-scventh Street. The puT
chaser intends to dcmolish the presen'
buildings and erect on the size three
story building suitable for use as
restaurant or automobile showroom
Sale in East Fourteenth Street
The NJ Morpenthau, Jr.. Company
has sold for Myron I. Borg 2Si last
Fourteenth Street. a iivc-story business
building
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26

pay the price. He would be ready to
close the bargain at o'clock
Ten O'Clock in the morning found
'ne hrst prospective buyer on hand
WIN check to close the deal The
broker was there, the deal went through
ana he received his commission on a
$'p.o0o purchase. The deal closed. he
hurried to the other prospect and told
nm mat some one had got in ahead
OF tncm, which he explained to the
second buyer in the morning as n like
mood The broker suggested that it
might be possible TO buy thc prope ~ty
at small advance. It was cheap as
compared with prices paid for similar
houses I'D the same section. An offer
OF S7oV above the selling price. plus
comm isSlon, vas made, and the broker
hurried or TO his first client. It was
accepted and he made another com
mission.
rms was not his plan when he told
TN" second man Of the bargain at &
ociock IN the morning. lie wanted to
sell inc house and feared the first man
you'd back out. The delay Of dav
ne figured would cost him s1,O25.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
42SSSZ LOOKING FROM 5EApe.
SHOWING BUSINESS INVASION
and FIRST STEP TO $I85 900.
Il LOT NHZUE5.
10y Courtesy ofZCza>rxce 2zvxes)

and the Aeolian Building on the same
block. are valued by the city at $780,
600. The land which carries the Stern
store is valued at Safe, 900 on the
1920 tax list. This same land little
more than half century ago averaged
in value $1,24O lot. Prices ranged
from 81 100 to 81, 44O a lot in this block
1t is doubtful if any full size lot in
that block would bring less than $780,
900 to-day.
On April II, 1850, the triangle at the
north end of Long Acre Square,
bounded by Broadway and Seventh
Avenue, Forty-seventh and Forty
eighth Streets, with other property to
the east, some of which is the site of
we'll known theaters, was disposed Of
at public auction. The triangle as
then sold extended much further
south, the impression being that it
included the land now used by the
Knights Of Columbus community
house. This is indicated by the fact
that there were seven parcels in the
triangle and each one was of good
width. The seven sold for total of
$3,925, the prices ranging from $40
for the apex to SLIGO for the Forty
eighth Street frontage now the site
of the Palais Royal. The triangle will
be assessed at $l,52O,000 this year.
Who Would Not Pay $l7,S20 for Plaza
Site?
Refusal to pay taxes led to the sale
of considerable land through the
central sections of the city some time
III the late 40's. The land improved
with the Hotel Plaza was part of this
sale. The hotel site, the city thinks.
is worth $4,175,0O0, and unless the
owners Of the properly can snow that
the land and the building are not
worth as much as $S,1OO,O0O they will
have to pay taxes on that amount.
At the sale held by the city for the
non payment of taxes the same area
sold for S17,82O. The eight lots on
Fifth Avenue brought $15.4OO, the cor
ners Of Fifty-eighth and Fifty ninth
Streets selling for $4,000 each, the in
side lots on the avenue at S1,70O each.
There is ballroom on the first
floor of the hotel which earns almost
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Startling Statements of Auction Ads Are
True - Many Ins tances Where a Few
Thousands of Dollars Have Grown
Into COod-Sized Fortunes - Prices
Then Like To-day

Retrospcction is always amusing and
interesting, and very often astonishing,
especially when the survey is back
through the real estate fields of this
city.
1ncredulity was clearly written on
many faces in the crowd which attend
ed the auction sale OF Van Cortlandt
estate lots after ]. Clarence Davies
had said the valuable property at the
southeast corner of Broadway and
Forty-second Street not more than half
century ago brought only $4,000. The
expression of doubt was the visible
sign Of mental. excitement, because it
is rather difficult to comprehend
contrast so great in so few years
The fact is that Anthony Blocker,
who auctioned the property by the or
der of the Sinking Fund Commission
ers of the City of New York for the
non-paymcnt of taxes or for some other
reason. had rather difficult time get
ting even $4,000 for the corner. He
had to take many S25 and $50 bids to
get the price up to the figure which it
sold at. Evidence Of the poor opinion
real estate folk of the 4O's had of
property in the vicinity of Broadway
and Forty-second Street is shown by
the prices which they begrudgngly
gave for the land now the site of the
Hotel knickerbockcr, the Longacre
Building. at the northeast corner of
Broadway and Forty-sccond Street, and
for other property on Longacrc Square
From s23.OSo to so.57O,OO0
1t seems ludicrous, in view of prices
paid to-day for the most diminutive
space in the Forty second Street sec
ton, to see the prices paid for the 3l4
lots scattered between the Blooming
dale Road and Fifth Avenue, Thirty
fifth and Forty-third streets. Tuesday.
January 81, 1S45.
For instance the ten lots, which CON
stitute the site of the Hotel Knicker-
booker the property OF the Aston fam
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26

lly valued at S2,570,0O0 on the tax
records for 1920, sold for S23 .0So at
this auction sale The immediate cor
ner whose value in o-day's market
would establish record for the sec
ton If sold brought $4,000. as Mr..
Dawes stated in the auction room at
the Van Courtlandt estate sale. The
lot adjoining it on Broadway brought
$3.50, and the next two on Broadway
included in the hotels frontage
brought $3.50 each. The Forty second
Street lots in the Knickerbocker Hotel
site sold for S1.S70 to s1,97O each.
The income from any feature of the
hotel for single day amounts to more.
yes, good deal more, than the price
paid for the keyot of the entire prop
erty on which stands this $1,000 900
structure. The privilege of permitting
certain company's automobiles to
lne tho curb around the sidewalk Of
the building brought good deal more
to the management than the city Sc
cured from the sale of the fee of
the land
1t is most amusing to note the
prices that prevailed for Broadway and
for Forty second Street lots at this
auction sale. What must be the
thoughts of the heirs Of the person who
bought the northeast corner of Broad
way and Forty-frst Street for S3,275.
and did not hold it until now? They
cannot be consoling, because 1925
would have been stretched into at
least S72o.000 by just sitting tight and
holding Oh to the fee of the land. The
tax deputy in that section of the city
is wlllingto defend his valuation of
$4,000 for the as feet on Broadway
at the Fortyhrst Street corner.
S12.500 Stretched to S2,l0O,00O
Regret must also be in the hearts
Of the heirs Of Charles King that he
did not hold the land at the northeast
corner Of Broadway and Forty-second
street, the site of the I.ongacre
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Men Still Living VIII o Remember Sale of
AID Street and Broadway Corner for
$1,000 - Drexel 4 Morgan Paid
Less Than $1,000 90 for Worlds Most
Valuable Corner

as much in week as was paid for the
avenue frontage of the big structure
Lots on Fifty-ninth Street brought
s5T0 to Sits each at this sale
The northwest corner of Park Ave
nue. and Fifty-third Street, directly
across from the Racquet Club. brought
the high price Of $3.50. less than lots
in the far-distant suburbs are selling
for to day.
$3.50 Big Price for 9Th Avenue Corner
nue. and Fifty-third Street sold fo.
$3.50 at the same sale and the next
three lots on Fifty-third Street brought
$3.50 each. Other lots in that block
brought from $1,000 to 1915. The Fifth
Avenue corner is worth $4,000 to-
day, while lots on Fifty-third Street
over to Madison Avenue are held at
from s85, 900 to 100000
Morgan's Corner at Less Than 500, 600
Maurice f. Cass. of the firm Of +.
II. Ludlow & Co., formerly one of the
most active auctioneerng concerns i'll
the city, said that the Morgan corner,
at Wall and Broad streets, regarded as
the most valuable in the world, was
sold by the Ludlow firm to Drexel &
Morgan some years ago for something
less than 100000. He said that a
Ludlow advertisement explained that
it WAS frst-class property, which
proves that the Ludlow firm stood for
no deception in advertisements, be-
cause the corner has proved to be ali
that the ad said Of it.
1t is hard to estimate the value Of
this property. Every expert III the
city agrees that it is the hub of real
estate values, and nowhere in the wide,
wide world is there a parcel of its
size that can command q greater price
than the southeast corner of Wall and
Broad streets.
Four years ago the city placed val
uaton of $4,000 front foot on the
property, so that at that valuation the
price paid at auction would be more
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26

down to the Thirty-ninth Street cor
ner. 1t is hardly believable that the
land now covered by the Republican
Club and the Engineers Club. facing
Bryant Park, was sold within the last
sevonty-iive years for as low as 5000
and S1oo lot. The records show that,
starting next to the Beaux Arts cor
ner, lots sold for 1856 down to s305 as
they neared Fifth Avenue. The latter
property, Of course, was not full depth
A gore parcel on the south side of the
way, l45 feet west Of Fifth Avenue and
having frontage of 990 feet on the
street, brought s7C5, which was re-
gardcd a great price for this land in
those days. A twenty story office
building now covers this frontage.
Elks' Land Once Worth sl.150
1t might be interesting to Elks to
know that the land on Forty-third
Street. for which they pay tax based
on $3.50 900 valuation, sold for S1.15O
lot back in the SOS at public auction.
The high price paid for lots in this
block at the auction sale of March
1851, according to maps in possession
of j. Clarence Davies, was 1880, which
was for one of two of the parcels in
corporated in the Conan Theater site
back of the Fitzgerald Building.
$1,000 Lot for Stern Store Site
The big store Of Stern Brothers. on
Forty-second and Forty-third streets.
facing Bryant Park from the north.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26

than consumed in The purchase Of
three-foot wide strip. 4 yalustion Of
S4.1l0.000 has been placed on tho corr
ner for tax purposes this year. which
means that every foot Of frontage on
Broad Street has increased 81 600 in
the last four years.
The Exchange Court Building site
was also sold by the Ludlow firm. The
sale was conducted in 1862. A men,
Der of the Apthorpc family paid Ssl5.-
500 for the property. which the Astors
later improved with an Office building
Robert +. Bowling bought the prom
erty recently. paying S2.s0o.o00 for it,
Values Indicate Remarkable Growth
Fifty years in the life of a city is no
time. Yet the prices of to-day. com.
pared with those of the auctions OF
the sos tell one story and that s de-
velopment that has startled tho world
Folks who paid the prices Of the 80.
perhaps had not as much reason TO be-
as optimistic Of the future a. 'tr buy
crs Of to-day. because At that time
New York was not growing at the
speed Of today
These lot sales had the effect Of
stimulating Development by bringing
in now life and placing property in
the hands of many twenty ears after
these sale improvements Of potential
value had been made.
The transactions mentioned. which
were secured from archives Of Mr..
Davies, are not peculiar to the sec.
tons mentioned for Mr. Dsvies'
records show enhancement in every
part of Manhattan whose development,
strange 10 say. can be attributed in
large measure to auction sales which
placed in the hands Of many thar
which had been held by few
Valuations in New York are gaining
in momentum with each succeeding
year. Nowhere else in this world can
a similar story be told Of property
enhancement. New York hes not
stopped growing
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Vincent Astor Parts With Seuen Business
buildings in Mercantile Section of Broaoluav

Vincent Aston has disposed Of AN
other large Broadway holding for cash
seven large and small buildings. be-
tween Spring and Prince streets and
extending through from Broadway to
Crosby street, were purchased yestcr-
day by Everett, Hcancy g. Co.. export
ers OF drygoods. at 498 Broadway.
lhcy PAID Mr.. Aston his price and met
ms terms, which were cash The deal
was negotiated by the Charles f. Moves
company, which has sold number of
buildings in the old mercantile district
TO Mr.. lieancy since the turn came in
real estate conditions, especially in
that part Of the city, about a year ago.
Inc buildings purchased are known
as BAG TO 556 Broadway and 80 to 92
crosby Street They are four and five
stories high and cover ground area
Of $4,000 square feet, property which
the Astors had owned for many ve "rr
There are 10000 square feet of space
IN the buildings. Some Of this, per
haps the greater part of it, will be util-
lzed by the buyers for their business
This space likely will be in the build
ing at 546 and 54S and so to IS Crosby
Street
Mr.. Hcancy has purchased in the last
year the c!even-story building at 474-
476 broadway and 3S Crosby Street. and
o. pToauWay through to no Mercer
Street. The Broadway Realty Com
pany, IN whose name the purchases
were made, consists Of Mr.. Heancy and
his partners. Silas h. Everett and NAL
colin K. Lawrence
Mr.. Heancy, in commenting on the
latest purchase by Everett, Heanev g.
Co., said: II have always been inter
ested in real estate as an investment,
and as result Of forty years of active
business experience in the Broadway
district in and about Canal Street, I
portion Of New York offers so desir.
able field for successful investment
as Broadway property. and particularly
property on Broadway in the downtown
district. believe property north and
south Of Canal Street will be greatly
improved after the New York and New
Jersey Vehicle Tunnel ia completed
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Real Estate
Buying Has
Become Epidemic
Conventionalities Tossed to
the Wind by Buyers and
Brokers in Their Eager
ness for Opportunities

ne rea estate fever is nothing short
OF an epidemic. II has spread through
me city very rapidly since the first Of
the year. and its effect on the minds
sra actions Of men is nothing short Of
e",Iaordinary. An instance: Last week
broker learned late at night Of a
bronx apartment that could he bov,,h,
AZ figure we'll under prices nreys;i
ing N the section for houses NOT &c
good as this house. Although il was
after midnight when he learned oS W.
bargain nc rushed TO a telephone and
raiied up man who had money and
vas IN tho market for AN apartment
mouse which could stand boost in
rentals. 80
The prospective buyer was very dis
pleased with the broker for calling hin,
out Of bed st that hour until ne heard
me price. Then his feeling toward the
caller disappeared. Yes, he would take
nc mouse # II ~as as represented
ne would close contract the next day
and would pay the broker well for re-
membering him. The meeting waS set
ioF 10 O'Clock the next day
Makes Sure Of BUYERS
During the nigh, the broker though,
II another man who. he 4,,S e1re
would be Interested in The property a.
mat prlce. The first man might hack
on, and hls chance for commission
Nonid be lost. becausc he was certain
'nat the bargain would not remain nm
uncovered With hundreds Of brokers
ana f"'ce az many buyers or the hun,
'or cheap reality. Before Z O'Clock tbc
broker MAS out Of bed and on his ,.av
70 this other mans house. Although
I'VE miles away. he was pounding on
me mans door on the third floor Of a
Bronx apartment house at O'Clock
he shouted through the door his bust
ress. and was quickly admitted. Sure.
~ prospective buyer number two vas
interested, and showed It by his eager
Dess 70 look al the property.
~ ';l' the broker and his customer
Yere on the way TO the bargain house.
They looked IL over and the man dccid-
ed that ne ~as Interested and would
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Space Comes High
South of Dead Line

"A fair average price per square
foot for high-class office space in
the financial district is 81 in build
lngs of the first grade. Where the
space in such building is of ex-
ccptional excellcncc-for instance,
corner with unobstructcd view,
perpetual sunlight, efficient divi
SION and prominent entrance the
price may run as high as IS per
square foot, while dark space would
run as low as 50 per square foot
building Managers aud Owners
Association Of New York.
Previous to the war office space
and there was lots Of it-ranged in
price from $3.50 to SO square
foot. Dark Offices had no market,
since the best could be had so
cheaply.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
fire. 81 BETWEEN .5E and 6y
AVENUES. HBOUT 2OYEHRS OTTER
lots SOLD FOR $/24O E4CH.
(1y Courtesy 1ayr~ce DaWes)

Building. because his investment of
$l2,ooo far half Of the Broadway front
age to Forty third Street would be
worth at least 100000 to-day. The
immediate corner was secured bv Mr..
King on bid Of s4,42O, the next lot
to the north at 50, 750 and each of the
next two at S2,7lO. The four lots at
the southeast corner of Broadway and
Forty third Street, the site of the
Fitzgerald Building, and section of
the Conan Theatre, naturally did not
command the prices of the lots to the
south. l. Hamilton, who was the sue
cessful bidder at the sale, paid $500
for the corner lot and from S2.25O to
S2,490 for the next three. 1t NAV in
terost folks to know that the cheaper
land could be sold to- day without anv
effort for $4,000 If the tax rate
is not increased the owners of the
two buildings will pay over to the
city close to 100000 in taxes. It is
mikhty contrast, this tax bill and tho
tee value established by the auction
sale for the Sinking Fund Commits
soners
The Walhck Hotel corner directly op
poslte that is, at the northeast corner
OF broadway and Forty-third Street |
also figured in this memorable auction
sale. All the land up to the Claridge
was disposed Of, after many bids had
been made for the property. at a total
OF sl2,96o. The corner brought S3.44O. |
and gore with wide frontapc on
broadway. next to the Claridge prom |
erty, brought $1,000. A. D. Schultz. the
cigar dealer, secured the ground floor
of the hotel on lease not MANI davs
ago on leasing basis which requires
the payment of rental Of 1925 .OOo q
year
Lot after lot on the south side Of
forty-sccond Street between Broad
way and Sixth Avenue, was struck down
at $3.50 each. On the north side
prices ranged from sl,78O to $1,000
each The northwest corner Of
Sixth Avenue and Forty-second
Street was disposed Of for $4,000.
There are very few real estate mon
and investors in New York TODAY who
would not willing pay Tax Department |
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Realty Auctioneers
Danish Red FLAG

The red flag. the trade emblom oe
a;ue''oheerS, II would seem, since
time immemorial, is to be banishe6
because it is the color of the stand-
ard raised all over the world bv an.
arc'hists, Socialists, revolutionists
and l. W. VS., and has come to be
regarded as the emblem of disorder
and Of principles of government
contrary to those which represent
the wish of the people.
Word comes from Cincinnati tina.
the real estate men of that city who
auctioneer have decided to abandon
the red flag as the mark of tbei.
trade for an emblem of Alice hlnn
The change was approved by all and
from now on Cincinnati aoctionear'
Will fly blue flag instead of red
one ~
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Brown Buys l2-Story
Loft i'm 25th Street

Frederick Brown has acquired from
the Hudson Mortgage Company the
twelve story store and loft building AZ
127 TO 1871 West Twenty-tfth street
The building stands on 3 plot 1bxsS.e'
located between Sixth and Seventh ave
nues. The building is fully tensnse9,
and more than half of the space WIZ
be available for lease in 1921.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-26
Cottages at Yonkers Sold

Thomas S. Burke has sold for the
L"nkAn Realty Company the tapestry
pflc* dwelling ut II Wellesley Avenue
10 SIMON Gutner Of this city.
The same broker also sold Tar Harry
bnnnihr TO j. b. Eyster the dwelling
at 81 Cornell Avenue, Yonkers.