The New York herald., 1921-10-15
MERCHANT TO BUY
DEMOCRATIC CLUB
Contracts Prepared for Sale of
Famous Fifth Avenue
Parcel to X. Smith.

The home of the Nauonai Democratic
Club. at 6i5 Fifth avenue. once the
headquarters or Richard Croker when
he held the sceptre of Tammany Hall
and ruled supreme in New York city
Is about to pass into the hands of r.
Smith. owner of the r. Smith & Co. suit
and cloak store on West Fourteenth
street. Contracts of sale are ready t.
be signed and within two or three
years the old fashioned five story
brownstone structure will be repla ccd
by a modern store building that will
cost at least 100000.
The property. which fronts AZ feet on
Fifth avenue and has depth of 100
feet, is the only one on the east side
OF the block front between Fiftietr
and Fifty-first streets that Is not in
cluded In the site leased in April, 1920
by Saks & Co. for their new store.
Plans were recently filed by Saks
& Co. for a nine story structure u
cover the sites of the old Buck
ingham Hotel and the Belgravia Apart
ments. Mr.. Smith when seen yester-
day by reporter for THE New Yosw
HERALD said he intended to put up a
store building of the same height and
in harmony with the one which Saks
& Co. will build.
II was rumored a few days ago that
Mr.. Smith was negotiating for long
term lease of the National Democratic
Club property. 1t was learned yester-
day, however, that the transaction In
wolves a sale and not lease. 1t Is
not known what the purchase price Is
: that has been agreed on between the
club and Mr.. Smith. 1t was admitted.
however, by members of the ways and
means committee of the club that an
offer of $1,000.000 was made recently
and was refused by the club. Sew
eral months ago the club could have
leased the property for $4,000 year
but declined that offer.
1t was learned yesterday that Mr..
Smith has not found it necessary to
arrange outside financing to put
through his end of the deal. as he will
pay cash above a first mortgage which
the club has arranged to take back.
! Tho club purchased the property
about twenty-five years ago from Cord
Meyer, who lived in the house for many
years. The purchase price Vas s175,-
600. A few years later the club had an
opportunity to sell the property for
double the purchase price, and as the
years passed offers were made which
ranged from 100000 to $1,000, 900.
Cleveland during the years between
his Presidential administrations while
re practised law in New York was q
member. But the club reached the
pinnacle of success while Mayor Van
wyck was in office. The clubhouse was
filled nearly every night and Mayor
Van Wyck and the faithful were among
the throng waiting to be received by
Mr.. Croker. Van Wyck and Chief Dew
cry were weights too heavy for Crok-
cr's shoulders to bear and with the
defeat of Shspard in 1901, he sailed for
ireland lea g Lewis Nixon to hold
his sceptre kfter that the clubs in
iluence war4eY even though 1t prefxed
the National to its name.
Trade is now about to supplant pol
itics on this costly Fifth avenue 'front.'
age. 1t is not known yet where the
club will locate. 1t has two years yet
to remain as tenant of Mr.. Smith. The
latter will turn over the business OF
the new store to his son, Sol. Smith.
INVESTOR Buys Ten story Loft.
An investor purchased from the Ben
enson Realty Company 80 Great Jones
street. a ten story loft and store build
ing. 25x100. The property adjoins the
Mission of the Immaculate Virgin, at the
itoi ehtdot SCibti VI h<dio Cetc StiOSes dHb
was valued at $4,000. 1t returns a
yearly gross rental Of $19,500.
MuItifamily House Sales.
r-:.ac Lowenfel1 and william Prayer
p---.f1sed from the estate of Eleanor
Glassford and others five story new
law apartment. 37.6x100. at EOS West
J4Sth street. 1t houses fifteen families
and has rent roll of $500. The prop
erty was held at $4,000 L. II. Ludlow
& Co. negotiated the sale.
James II. Cruikshank resold to the
Carneval Realty Company, James Carne'
val, president, so and 50 Grand street.
the northwest corner of West Broadway.
Ave story tenement, 28x60. with store.
Charles Il. Moore was the broker
ID. Kempner & Son, Inc. sold the f1ve
story fiat. with stores. at 50 Amsterdam
avenue. 27x75.
Folsom Brothers, Inc. sold for United
States Mortgage and Trust Company
representing the estate OF Mary c.
Brown, the Ave story tenement at Be-
thune street, to Joseph Ianuzzi.
BcIasco Buys Home for Gift.
AS a gift for his daughter, Mrs Rene
Guest. David Belasco. playwright ant
manager. purchased the four story dwell
ing at II East Fifty second street about
l25 feet west of Park avenue. from Mrs
Herman Tape, who held 1t at $4,000
1t stands on lot 14x10o.5.
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