The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-15
TAKES BIG PROFIT
ON OLD DELMONICO'S
c. p. Stewart Clears 100000
in Resale of Building to In
surance Concern.

The nine story Merchant Marine
House on the fiatiron plot bounded by
Beaver and South William streets.
which was originally built for Del
monicos restaurant, has been sold by
the Charles F. Noyes Company for
Cecil p. Stewart to the Insurance Com
pany Of North America. 1t Is said that
Mr.. Stewart took profit of $500, 900 on
the deal. which was for all cash. Ac-
cording to one report the price was
more than s1.000.0OO.
The property covers a plot of about
$3.50 square feet, with a frontage of
20 feet on Beaver and I25 feet on
South William street. It's situation Is
IN exceptional one In the downtown
district. 1t is in the heart of the ma
rine insurance and shipping zone and
is within short block of every prom
inent exchange in the city.
Real estate has been active In the
ne'ghborhood OF the property, many biz
steamship companies, banks and finan-
ciat concerns having purchased their
Cwn homes in the vicinity.
Mr.. Stewart is president OF the insu.-
arce brokerage firm of +. b. Hall g. Co
Inc, which bought the property several
years ago. 1t Is said that his firm ar
ranged the sale of the property subject
&C it's existing lease and will therefore
continue to occupy its quarters In tho
building. Henry Pegram was the at
tcrney for the seller and Babbage &
Sanders represented the buyer
Noyes Company i'm Another Deal.
Charles F. Noyes Company resold for
Norman S. Riesehfeld to Francis Her
man the six story building. 4ixS0, ~
800 and BAL Pearl street. southwest co..
ner of Frankfort. The property was re-
Gently purchased by the seller through
the Noyes company in an all cash trans.
action from George Ehret. The build-
ing will be extensively altered and
placed in charge of the Noyes company
for management and rental.
Investor Takes Montalva Court.
Montalva Court, six story elevator
apartment. 100x75 at the northwest cor
ner of St. Nicholas avenue and 146th
street, has been sold by the Central
Union Trust Company, as executor for
the Whitlock estate. John r. and Oscar
l.. Foley negotiated the transaction.
HOtcI SentOn IN heSulcs
Daniel II. Jackson resold to John ].
Flannery the Hotel Senton, at IS and 81
East Twenty-seventh street. between
Fourth and Madison avenues, facing
Madison Square Garden, a six story
structure. 50xll3. SPOTS & Starr were
the brokers. Mr.. Jackson bought the
hotel few days ago from the Fidelity
Trust Company of Newark. represent
n No NJ Il L irf1 nd acto
through f. II. Ludlow & Co.
Riverdale Estate for Asylum.
For the purpose of accommodating go
children OF its orphanage the Harlem
Hebrew Orphan Asylum, represented by
Mrs. Jennie Kramer and Louis Cohen.
bought the Schmidt mansion, facing
Spencer and Huxley avenues and
Whalen street and being one block
west of 260th street Broadway and Van
Cortlandt Park. The property covers
a plot known as the Knowls, which is
considered the highest point overlook
ing the greater part Of Manhattan. 1t
is improved with a mansion, constructed
of hand hewn oak ship timbers, with
rooms of the size OF an ordinary six
room flat. Jules Nehring. Inc. sold
the realty for an estate represented by
the Hon. John Whalen, former Corpora
ton Counsel.
Work on TivoIi Theatre Begins.
Work on the erection OF the Tivoli
Theatre at the northwest corner of
Eighth avenue and Fiftieth street has
begun The house will seat 5000 per-
sons, and on the avenue frontage it will
be five stories high, with stores on the
ground floor and apartments above. 1t
will cover n plot 133.5xl37.6 and will be
rented by the Lewis l.. Rosenthal Com
pany. The theatre will be managed by
the interests controlling the Arena
Theatre. also moving picture house,
on Eighth avenue. between Fortieth
and Forty-first streets.
other Deals In Manhattan.
Crawford Memorial Methodist Epis-
copal Church has transferred its prop
erty at 219 and 221 East Twenty-seventh
street, between Second and Third ave-
nues, to the st. Illuninators Armenian
Church. The property consists OF
six story apartment house and the
church edifice, the two standing on
combined plot of 93.4x9S.9. The new
owners take the property subject to
mortgages amounting to $4,000. OF
which s57,500 Is hearing interest a, 5is
per cent In the form of a purchase
money mortgage payable in install
ments.
Markt & Hammacher Company. the
tenant. bought from Edith r.. Rfndoloh
and others the five story building,
with stores, at 1856 West street. 29.exS0.S,
extending through the block to Caro-
line street The parcel adjoirs the
=