The New York herald., 1920-12-05


cial districts point clearly to the fact
that big leases are taking the place OF
important sales in the real estate mar
ket. One of the most interesting oi
these transactions concerned the new
Gotham National Bank Building at
Broadway and Fifty-ninth street. III
which eight floors were taken over py
the Columbia Graphpphone Company LOT
a term Of years at an aggregate rentai
of 1000. .0OO as was reported In IHE
NEW YORK HERALD on Saturday.
II Is only logical of course that DUR
ine n period of insistent demand Tor
both residential and business space the
cessation Of buying should be followed
by a heavy leasing movement. Inc
shift in the market at this particular
time, however, real estate men po'ht OUT
IS due largely to artificial causes the
rent laws having placed damper on
huvine and selling. Once the rent laws
have been modified the situation VIII
right itself automatically. brokers
declare. The buying movement VIII
again take precedence and operators VIII
come back into the field. In spite OF
MANY superficial indications to the con-
trary there is strong feeling in certain
quarters that 1921 will be great year
for the operator.
T.. A. ChnIoner Lenses q Apartments
John Armstrong Chaloner. through the
Riga Construction Company. has leased
70 L. and A. Pincus and NJ. l.. Goldstone
the eight apartment houses now nearing
completion at 320-S2S West Fifty-ffth
street and 329-333 West Fifty fifth street.
The lease Is for q long term. The
Houses contain sixty-four suites of from
one TO four rooms, and duplex studio
apartments with ceilings twenty feet
high
A feature of this project is the con-
version of the rear yards into private
marks with fountains which were i'm
norted from Europe by Mr.. Chaloner.
Private tennis courts will also be IN
troduced for the use of the tenants.
Emery Roth is supervising the archi-
tectural work.
Kaplan, Kosman & Streusand. attT-
news. represented the lessor and Charles
Ayers. attorney. represented the lessee.
Knfckerbocler Hotel Grill Leased.
The grill In tho old Knickerbocker
Hotel has been leased by Joseph l. PAM,
operator of the Woodmansten Inn and
Castle-By -The-Sea. at Long Beach, and
will be conducted along the same lines
as In the past. The lease is for ten
years, with the privilege Of one ten year
renewal II the renewal privilege Is ex-
ercised the aggregate rental for twenty
years will amount to about $1,000. 900.
The lease was negotiated by Pease &
Elliman with the Vincent Astor estate,
owners Of the property. which Is being
converted into an Office building.
Negro Church Near City College.
Tho vacant plot bounded by 1S7th and
13Sth streets. st. Nicholas avenue ana
- LaAx v.ttF lan Qad
by ST. Marks Church, a negro congrega-
ton. which will improve II with church
having an auditorium seating 1000 peo-
ple and a parish house. The property
was sold by the Lincoln Trust Company,
acting as trustee for the estate of the
late Mary c.. Pinkney. who was large
holder OF vacant land in the upper part
OF the city. The price paid for the site
was not divulged. but II is planned to
spend ss25.ooo on the Improvement.
This amount will be derived from the
sale of the present church property on
Tffty-third street, between Broadway
and Eighth avenue and by subscriptions.
DIR. william II. Brooks Is the pastor.
The new site faces st. Nicholas Park.
and Is diagonally across the park from
city College. Nearby are many modern
apartments The s-5t fronts 202.9 feet
on ST. Nicholas avenue. 200 feet on
EdgecOmbe avenue, "a feet on 1SIth
street and 67.9 feet on 13Sth street
other Deals I'm Manhattan.
Duff a Conger. Inc. sold for the Good
man estate. of Castleblaney, Ireland,
s1i-515 East Eghtieth street. 75x102.2.
20 Terence r. Murphy. who will occupy
for his business.
John c. Bode and others sold to John
u, Korn the three story building at 1ss
Sixth avenue, southeast corner of Thlr-
tAsnth street, 25x1o0.
James Meade and others sold to the
Y. A. M. Company the three story fiat at
CAT West 1s4th street. 25x100.
. rames Di Mattio sold to the AGRA
Realty Company the four story tcne-
rnent. wiki stores. at 2292 First avenue,
1s.10x15.
Gertrude Dempsey sold TO Nickel
--erlng 6s5 West 131st street, a vacant
Tot 25x100.
Bessie Parsons sold to Henry and
John Ederlc the three story building at
ii2, Amsterdam avenue. 25xz5.
Elizabeth l.. Herbert sold to Clara
Mayors the Ave story fat at 124 West
137th street. 25x100.
wifhelnina Ochs sold to Adolph Las
Gig the four story tenement at 212 East
Ssvsnty~third street, 25xf00.
Amy L. Lowenstefn sold TO Beckie