The New York herald., 1920-01-16
REAL ESTATE NEWS
Operators Buy Building in
Broadway for 81, 100000
Structure Walker Street Cor Sod.by Equitable Life AS
surance Society-Deal Pend ing for Hotel Martha Wash
ington-Other Recent Brokerage Reports.


the Equitable Life Assurance Society the
fifteen story office building at SS to Sss
Broadway, southwest corner of Walker st.
The property has frontage OF 81 feet in
Broadway. 1919 feet in Walker St. the
west line being 100 feet, forming an IL
shaped plot The property was held at
81 .lO0.0 900 and was sold subject TO pur-
chase money mortgage OF 10000 for ten
years. at five per cent, amortized at the
rate of coo year. The store is tenanted
by the Italian Trust Company.
Deal for Hotel Martha Washington.
The Hotel Martha Washington prop
erty. at 81 to 81 East 18th St, through 10
80 East 30th St. shortly will change own
ership, provided the stockholders OF the
company accept an offer OF $4,000 for
the property at a meeting called for jan
uary Is. Through Pease 8: Gilman the
women's Hotel Company. Arthur Cop
peli president, received this offer and it
is understood that the directors have ap-
proved the sale. The Martha Washing
ton probably is the first hotel ever erected
in Manhattan for the exclusive use of
women 1t is under lease TO the North
ern Hotel Company until February, 1927.
The sale is the first change of ownership
since the building was erected, about
twenty years ago. The buyer. an investor,
takes the property subject to the exist
ing lease.
Lense in Herald Square Section.
An interesting lease was closed yester-
day in the Herald square section. Albert A.
Levi leased 10 the No. 1873 West saith Street
Corporation, Sidney r. Loeb president the
five story business building 25x1O0. at that
address The lease, which was closed by
the Lewis L. Rosenthal Company. is for
twenty-one years, with one renewal for
like period. The aggregate rental is about
100000. Extensive alterations are to be
made, including the raising Of the base
ment floor to the street level installing
an elevator and arranging the upper floors
for salesroom purposes. The property was
purchased in 1859 by Isaac Meyer, Mr..
Lewis father-in-law. and has remained
in the family ever since.
Auction Sale Realizes s325,s0O.
| Joseph P. Day held his first special
sales day yesterday In the Exchange Sales
room. There was a large attendance and
the bidding was spirited. The total amount
realized was s325,900. The sale included
tenements, residences, business properties
and vacant plots. located in Manhattan
Bronx and Queens The details will he
found in another column.
Building Project Financed.
The financial arrangements were COM
pleted yesterday for the construction OF
the twenty-one story structure occupying
tho block front in the west side OF Madl-
son av., between 43d and 44th sts., Will
the exception of two properties The
structure Is TO be constructed, owned and
managed by the Madison Avenue Estates
| Inc, but will be occupied In part by the
Fifth Church Of Christ, Scientist Ir
addition 10 offices the building will con-
tain an auditorium, S1xs2. with a height
Of a. feet, seating 1900 people The
architecture Of the building. inside and
out, will be Greek. -Four Ionic columns
OF verd antique marble will be placed
at the entrance, while eight free standing
marble columns will be inside. S. w
Straus & Co. has arranged 20 underwrite
a first mortgage serial six per cent author-
lied bond issue for s5.5OO,00o. The land
and building are valued at ss.500.0oo. The
gross annual income. II is estimated. will be
sI.S20,00O. The church will raise $4,000.
0c0, secured by second mortgage serial
bonds to be amortized In twenty years,
ard will eventually come into possession
of a ninety-nine year lease Of the prop
erty.
Hotel st. Louis Resold.
Michael Kaufman purchased from Fred
erick Brown the ten story Hotel st. Louis,
at "a and 36 East 32d St, i0X9S.9. The build
ling contains 126 rooms and was acquired
by the seller last September. Subsequently
Mr. Brown leased the property to Jean
W. Blalock for term OF years.
Broadway Plot Sold.
Florence Alker sold the vacant plot In
the west side of Broadway, Is feet north
of 122d st, TO a builder for Improvement.
II has a frontage of 5Q.i feet and an irreg-
lular depth, the southerly line measuring
146 feet and the northerly line 12s feet. II
abuts the Institute Of Musical Art and is
opposite the Union Theological Seminary.
Business Properties In Demand.
Horace S. Ely t& Co sold for the Stand
ard Cold Storage Company to George II.
siege IS Jay St. five story mercantile
building. 26.sX5e.4x irregular.
VIM. A. White e. Sons sold the six story
tenement. 40xe5.5. at 365 and COZ Madison
st Hubert r.. Rogers. attorney. repre-
sented the seller. Max Radt is the owner
of record.
VIM. White e Sons sold for Charles c.
Nadal l3i and 1873 Cedar ST., two three
story buildings, Ssx5i The buyer intends
TO reimprove the site with an office
Dullolng.
Lebertan Corporation bought from
Adams W. s. Codrane estate. SIS and 60
vesey St, two five story lofts. 50xloo. for
all cash above a $4,000 mortgage
Charles r. Noyes Company sold for
William D. Fitzpatrick TO Max Marx, the
five story building. 25x75, at 154 Chambers
ST.
Hall J. How CO. and Warren J. Skillan
sold for Sidney =. MillingtoD TO Quality
Homes. Inc, 1g7 and le9 Prince st, north
west corner OF Wooster St, seven story
loft.
Max Marx bought through Geo. r. Read
& Co. from the estate OF Margaret r. Zim-
merman the seven story loft. 25x37. at 81
North Moore ST.. between Narick and Hud-
son SITS The Cruikshank Company repre-
scented the seller a resale is pending.
White Goodman sold for the estate OF
Anna Y. Leaycraft the six story loft at
Dos West Broadway with an IL" 70 3
North Moore St, TO a client OF Foster *
Cutler. attorneys.
Daniel Birdsall g. Co.. Inc. sold for the
81. Louis Union Trust Company, as
trustees. 70 Lispcnsrd St. a five story
building. c0xs9.e. to Harris Perelmuter.
Elas A. Cohen purchased from George
B. Orson 6. and Sc White St. five story
building, 47xil1, occupied BY English COM
mission houses. through Herbert "A. Sher-
man.
Elias A. Cohen purchased from George
Elmer the northeast corner OF Cedar and
West SITS. four story building, i6x65,
WOLF