The New York herald., 1921-02-10
$S,O0O,OOO RENTAL
FOR CORNER STORE
Space in Old Knickerbocker
Hotel Leased for Record
Breaking Sum.

and the fancy rentals which that space
commands In spite OF the construction
of many new buildings throughout the
city were evident yesterday in the an
nouncement that the National Drug
Stores Corporation had leased consid-
erable portion of the ground floor space
In the Knickerbocker Building formerly
the Hotel Knickerbocker, at the south
east corner of Broadway and Forty
second street for twenty-ono years at
an aggregate rental of we'll over $1,000
900. The deal was negotiated by Argyll
r. Parsons, vice president OF Douglas
L. Elliman & Co.
The Kn ckerbocker Building was made
over into an office structure by Vincent
Astor who bought back from James b.
Regan, about year ago. the lease
which the latter held on the property.
AS q hostelry 1t was known for the
beauty of its interior appointments. and
every effort will be made to preserve
these attractions in the office building.
Charles A. Plat. representing the Astor
interests, and Charles II. Seymour. rep
resenting the National Drug Stores
Corporation. have been retained as
architects to remodel the ground floor
property involved in yesterdays lease.
This includes the Broadway corner store
together with the entire Forty-second
street frontage extending to the Forty
and leaves but httle space remaining oil
the ground floor.
This new lease makes the thirtieth
store leased by the National Drug
Stores Corporation In New York city
since 1t began operations here eighteen
months ago. Last December the COM
pany caused a stir In the drug world
by announcing its intention OF reducing
prices In order to combat the high cost
~ linif1r 6ireCtnrR OF the
concern are Henry Lockhart. Jr.. and
William e. s Griswold, both OF whom
are bus ney associates OF Percy A.
Rockefeller and Charles H. Sabin.
Other long term leases at rentals ag-
gregating millions which have recently
been made in the Forty-second street
district include the Crucible Steel Com
pany. in so East Forty-second street, and
the Canadian Pacific Railway In the
new Madison Avenue Building. between
Forty third and Forty-second streets
100000 Lease I'm Cunard Bldg.
Atlas Portland Cement Company
leased the entire fourteenth floor OF the
new Cunard building. 25 Broadway. for
twenty-one years at an aggregate
rental of approximately $4,000. 900.
Other whole-floor tenants in the build
ing include the Owenoke Corporation
Up. A Rockefeller), Consolidated Steel
Corporation, Atlantic. Gulf and West
Indies Steamship lines. International
Motor Truck Corporation. Funch. Edge
6, Co., Anaconda Copper Mining Com
pany (two foors). Todd Shipyards
Corporation and Cochrane, Harper &c
Co. Bernard Wakefield acted for the
owners In the closing Of the leases
Buys Flanagan Estate on B'way.
Louis H Low and Charles Wynne
purchased the interest of the Flanagan
estate In the Marie Antonette Hotel,
covering the southerly half OF the
Broadway front at Sixty-sixth street.
being an eight story building. on plot
112.6xl40. This property Is assessed
by the city for taxation purposes at
S7b0, 900 and at this valuation was taken
over from tho estate 1t IS the intention
of the purchasers upon acquiring possess
sion to make extensive alterations. con-
vertng this building into an office
building l.. J. Phillips & Co We're the
brokers who negotiated this transaction.
Negro Amusement Centre Sold.
The $4,000 group OF buildings oc-
cupying the block front or the east
side Of Seventh avenue. between l31st
and 132d streets. and comprising the
community and amusement center OF
the Harlem negro population, have
been sold by the Canal Securities Cor
poration to the new Berson Amuse-
ment Corporation. M. w. Berman.
president, which will operate the prop
erty. 1t fronts goo feet on the avenue
and i25 feet on each street and was
taken subject to mortgages for $210,000
Schultz Co. in Bronx Corner Lease.
Tankoos, Smith s Co ag,d Albert d.
Phelps leased to the Schultz Realty
Company for the Loftin Realty Cor
poration for twenty-ono years the south
west corner OF Jerome and Burnside
avenues, The Bronx. with a frontage OF
1875 feet on Burnside avenue and 1910
feet on Jerome avenue. The rental
involved aggregates approximately
100000.
Leases Lexington Ave. House.
Mrs. Eva Martin leased tho five story
dwelling, 22x100, at the southwest COR
ner of Lexington avenue and Thirty
NTH street. Tor ten years at gross
rental of $4,000. She will alter the
premises into professional building,
with offices for physic ans and dentists.
The upper floors viii be converted into
bachelor apartments German II. Len
ney negotiated the lease for Mrs. Mar
garet Courier. the owner.
flnh foWeE AOuscs ior LolSOn 70
Plans for two three story power stations
were filed yesterday by the New York
Edison Company. One sill be erected at
120-f24 Cedar street. 81 10x56.5. and the
other at 159-l61 Greene street w.
Whitehill, the architect, estimated the
combined costs at s2so.o0o.
Apartment and Flats sold.
A. Blumenthal sold for Isidor thinner
and Samuel Rcznick. represented by
Frank Locker. attorney. the six story
elevator apartment house with stores
known as Lenox Hall. at 45-47 Lenox
avenue, northwest corner of 112th street,
on plot fronting 9011 feet on the
avenue and 100 feet on tho street. The
new owner. investors. have formed the
A. #. Hold ng Company. The prop
erty was held at s275.000. and returns
an annual rental OF about $4,000. The
house is arranged for SIX families on
a floor. being laid out In suites OF five.
SIX and seven rooms.
Abraham Zauderer. Inc. purchased
bf4 West 134th street, five story
apartment house, on n plot t0x100. con-
tanning twenty apartments. renting for
$4,000. Samuel wacht, Jr., represented
tho purchaser.
Bis Apartment to Replace school.
A twenty story apartment house TO
be operated on a camera tive Dian In 10