The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-28
Insurance District Grows
Like Veritable Mushroom

Corporation has added to it's holdings at
the northwest corner of Gold and John
streets and now has a plot of $4,000
square feet. including SO to SO John
street and 80 and 81 Gold street The
Squires Agency has leased the building
at 81 John street and T. Y. Brown &
Co will shortly move into 10 John street.
Sigsbee Graham as an investment has
purchased nearly the entire frontage on
John street from Pearl TO Gin street.
believing that the insurance district will
certainly reach this point and eventually
absorb his holdings. The United States
Fidelity and Casualty Company has pur-
chased the large plottage OF about 1000
feet at the southwest corner of William
and Liberty streets.
District Creeps Northwnrd.
While 1t is readily seen that the ac-
tivity has been very great on Maiden
lane and John street and William
street between these two points, yet
no block has come in for more atten-
ton and Is any more popular with in
surance interests than the William
street block between John and Fulton
street. The twenty story Crum q
Forster Building at 10 to l8 William
street has just been completed, and 1t
is probably the most popular OF all
buildings with Insurance interests.
Charles B. Van Valen, Its agent. is
having more inquiries for space than
Sc can fill. 11S William street has been
improved with six story individual Of
flee building for the business of the
Charles T. Noyes Company and Stark
weather & Shepley; Dwight & Hilles
have purchased and are erecting mod
ern building at 100 William, with an
IL" to 70 John street.
Elias A. Cohen has Just finished a
six story office building at LIZ and
1A william street, and Darby, Hooper
e. Mcdaniel and the Insurance Com
pany of North America have taken
large amount of space In this new
building. including the ground floor 12S
William street has been taken over by
the Commercial Casualty Company and
the National Liberty Insurance Com
pany, and King Alley & Lawrence are
among the recent insurance tenants that
have taken space in the new building at
1876 William street, another property just
acquired by Mr. Cohen and his asso-
ciates lao William street, southeast
corner of Fulton street, Is being con-
verified by Mr.. Cohen into modern SIX
story office building, with possession
May / next
The Golden Hill Building, at the
northwest corner of John and William
streets, is already too small for the
Jameson and F'reiingnuysen interests
and these companies are leasing space
in outside buildings. The Underwriters
Building, at 1913 William street, is al
ready filled with insurance interests and
the sixteen story building at the south
west corner of William and Fulton was
recently purchased by Bing & Bing and
is gradually being converted into
strictly insurance building as the leases
expire. Isidor Kahn and the Vulcan
Insurance Company have built at "a
Fulton street: Alfred M. Best and asso-
ciates are altering the former wilson
Building, at 70 to 10 Fulton street, at
the northeast corner of Gold, for group
of insurance interests SO Fulton street
has recently been sold and VIII be
used largely for insurance, ana num-
Der Of companies and agencies. includ-
ing the Sohmer Agency, are now located
on Fulton street between William ana
Nassau.
Underlying Causes of Changes.
The reason why this William street
district. In the vicinity of Maiden lane,
John and Fulton streets Is so desirable
for fire, casualty and accident insurance
companies is because the district is ex-
ceptionally convenient and because
practically all of the large insurance
companies own their own buildings In
this limited area. The subway station
Il at John and William streets. Then,
again. this Is a logical location for in
surance interests and insurance execu-
tives, as it practically adjoins the imam
c!al section, which has gradually crept
up until to-day its northerly limit Is at
Maiden lane, where the Federal Re
serve Bank will eventually construct It's
main banking house for this district on
the block bounded by Nassau. Liberty,
William and Maiden lane.
Space in these new buildings that are
being taken over by Insurance COM
NAMES or erected by insurance interests
Is absorbed as quickly as it is placed on
the market. and there Is still very
large waiting list or desirable tenants
who have not been able to secure
premises in this district. but who are
glad TO do so as soon as the space comes
on the market.
There is probably no section In New
York city where the demand h as strong
and healthy for office space as at this
point and there Is every indication that
within the next twelve months practl-
cally the entire insurance Industry VIII
be housed on William street from
Maiden lane to Fulton and the SIDE
streets leading into this insurance thor
oughfare.