New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-05-04
Real Estate Firm
Completes Century
In New York Field
James N. Wells's Sons in
Business Since May l,
1910: on Ninth Avenue
for Seventv.four Years

A century of continuous service in
New York real estate was rounded out
last Thursday by James N. Wells's Sons,
191 Ninth Avenue. James P. Eadie,
who came with the Wells firm years
ago, Is now head Of the business, which
he continues to conduct under the
original name. With the exception
of the Cruikshank Company, the firm
of James N. Wells's Sons is the oldest
real estate concern in the city.
James n. Wells entered the real
estate business on May l. 1919 He had
been builder for many years and
entered real estate because ne thought
building and the sale, lease and
management of property should go
hand in hand.
His first office as a real estate man
was on Hudson Street, near ST. Luke's
Church. He had operated extensive
ly through this section as a builder
He leased from Trinity Church many
properties which he improved with
dwellings for the occupancy of folks
who were then streaming out of the
congested sections of the lower city
10 the more residential Greenwich
Village.
The big business boom which fol-
was reflected III the spread of trade
INTO the remaining dwelling districts
in the lower part Of the city. AS big
prices were offered, no objections were
made to finding homes elsewhere.
Greenwich Village and Washington
Square were among the best residential
parts in the growing city, and it was to
the "Village" that many turned when
trade asked for their old homes. Many
Trinity Church property in Christopher
Street, Bank Street and Whereabouts
we're erected by Mr.. Wells. He leased
the ground and put up the houses,
which he sold with the 1easehold from
Trinity.
1t was through his dealings with
Trinity Church that he became &C
quainted with Bishop Moore and Sc
cured the management of the Moore
property. then farm extending from
Nineteenth to Twenty fourth Street
and from Eighth Avenue over to the
Nudson River, which at the time
washed the shore at about where Tenth
Avenue is to-day.
Bishop Moore was an eminent church
man, but not much for business. The
story is that he was about to sell his
farm for $4,000 when he thought he
would ask Mr. Welle's advice. Mr..
Wells told the bishop that he would be
making a great mistake if he sold his
property at that figure.
He convinced Bishop Moore that his
property could be cut up into building
sites and the sale of them to folks
who wanted to build home would
bring him much more money than he
was offered. Bishop Moore put Mr.
Wells in charge of his farm and the
development of the property. 1t was
Mr.. Wells who subdivided it and placed
restrictions on the use of the property
which improved its value. People Of
the highest character came there to
live because OF the property guar
antee
The section is still essentially resi-
dental. Although the Moore estate
has disposed of much of it's original
property, that which remains in the
management of James P. Eadie, as head
Of James n. Wells Sons, could not be
bought for less than S15,000,o0o.
Mr.. Welsl came to 1S1 Ninth Avenue
i'll 1895. A frame building then Gov
cred the property. In 1857 the brick
building now on the property was
erected by Mr.. Wells. While James P.
h.aoie devotes his time to the manage
'nent Of the Moore estate, the Ray
estate, which controls considerable
property TO the north and g number
II other large properties, Colin NJ.
Eadle attends TO tho sales branch of
the hrciroqc