The New York herald., 1921-05-12
OLD 'HERALD HOME
DOOMED BY TRADE
To Be Leased by n. c. Partos,
Who Will Eventually Erect
a 20 Story Building.

Having served for twenty-eight years
as the home OF two great newspa pers.
the old Herald Building. at Broadway
and Thirty-ffth street. is about 70 de-
vote the remainder of its life TO trade.
The interesting old structure, designed
by the late Stanford White as a replica
OF the Palazzo del Consiglio. or City
Hail. of Verona, will soon be leased for
a long term OF years by Nicholas G.
Partos, head OF the Partola Manufac-
turing Company. from Its owners the
Manice estate Final papers will prob
ably be signed within the next few days
closing the deal which calls for an ini-
rial term OF twenty-one years, with two
renewal periods of equal duration. The
rental for the first period will be about
$500, 900. The negotiations are being
handled by II. A. Frey of Douglas L.
Gilman s. Co. Inc.
Speculation as to the ultimate fate or
this old Italian palace, set down in the
middle OF a busting commercial district,
Is set at rest by the official announce
rnent that Mr. Partos intends eventually
to build on the leased site twenty
story structure which will be less of
an anachronism in a business neighbor-
hood For the first few years, however,
the new lessee win content himself with
alterations to the present building which
give both name and character to the
Herald Square district Mr.. Partos will
use part Of the building far his own
business and will lease the remainder.
The old Herald Building was erected
by James Gordon Bennett on ground
leased from the Manice estate for a
period OF thirty years. The famous
newspaper publisher decided upon the
italian design for the structure. which
was completed in 1898. In that year
both the Erenhag Telegram and THE
NEW YORK HERALD moved in. When
Frank A. Munsey purchased the Bennett
papers and consolidated THE NEW YORK
HERALD with THE SuN the combined pa
per was published at ESQ Broadway.
Then Mr.. Munsey leased a new home
for the Evening Telegram at the south
east corner of Seventh avenue and Six
teenth street. On April IT the old
Herald Building terminated it's Journal
istic career, just thirteen days before
the lease on the property was to have
expired.
The Herald Building occupies the tri-
angular block bounded by Broadway,
Sixth avenue, Thirty-fifth and Thirty
sixth streets. 1t fronts 211 feet on
Broadway, 500 feet on Thirty-fifth
street 1876 feet on Thirty-sixth street
ana Ati ltcL OH ssAALH dNtju6- AiS pAoh
was purchased by the Manice family
about seventy years ago for $500 To-
day the land and building are held by
the Manice estate at a value of about
S3,0oo,0 900. The land alone is assessed
by the city at s2,342. 900.
Mr.. Partos has been a principal in
several big realty deals closed of late.
One OF the largest was that in which he
leased for his business the old depart
ment store occupying the block front on
the west side Of Sixth avenue between
Twentieth and Twenty-first streets.
In the Dwelling Market
VIM. a. White & Sons sold the four
story, sixteen foot dwelling, at 81 East
Fgfty-flfth street for the Thomas Goadby
estate and the similar property at 7S
East Fifty-ffth street for Dorothy w.
Salisbury. The purchasers In both
cases are investors. This is the fourth
dwelling in this block sold since April /
by these brokers.
William Il. May & Co. sold for Mrs.
William II. Hyde the twenty foot, five
story remodelled residence at 66 East
Ninety-flrst street for several years to
DR. Walker
William r. Lowe sold for Mr.. Quinn
TO Mrs. A. Colombi the two story frame
two family dwelling at 81 West 1s3d
street, 25xf00,
Charles +. Noyes and Shaw. Rockwell
& Sanford sold FOR the Ford estate
Mount Morris Park West. a four story
dwelling, 20xs5, to Ida Garrnise.