The New York herald., 1921-06-11
BUYS BUILDING WITH
STRING TIED TO IT
Operator Signs Novel Contract
Which May Force Him to
Resell Property.

Adolph Lewisohn has purchased
business building at so West Fifty
seventh street under extremely unusual
conditions. The buyer takes the prop
erty subject to a previous contract OF
sale made by the owner with the Utility
Realty Company (Robert f. Simon)
This contract has two years more TO
run. which means. that should Mr.. Simon
desire TO purchase the property Mr..
Lewisohn must assume the obligation
to sell TO Mr. Simon should the latter
decide to exercise his option of pur-
chase.
Both Mr.. Simon and Mr.. Lewisohn
are regarded as among the ablest oper-
ators In New York city realty. and both
are experts on values on West F1fty-
seventh street in the Fifth avenue zone.
The deal was negotiated by L. j. Phillips
& Co., brokers, who are also specialists
in values in this section. These circum-
stances conspire to make this one of the
most interesting transactions closed In
Manhattan in many years, and the deal
Is probably the first Of Its kind ever
put through In this city at least
The property is Ave story residences
which was altered for business three
years ago. 1t was owned by Marie N.
Davis, who was represented by Pease d
Gilman 1t fronts 20 feet on the street
and has depth of 1908 feet.
Mr. Lewisohn controls the largest
number OF individually owned parcels
of realty on Fifty-seventh street to-day,
having at present a frontage on that
street between Fifth and Sixth avenues
alone aggregating asa feet. which in
oil ctv
Building, the Tape Building and the
Sohmer Building. There has been
marked activity on this street recently,
which has changed to a business thor
oughfare Of the highest class.
Simpson, Thatcher & Bartlett repre-
sented Mr. Lewison as attorneys, and
Frank B. Washburn represented Mrs.
Davis.
Other Business Property Sales.
O'Reilly & Dahn sold for the McManus
Estate 1903 Third avenue, four story
business building. 26xlOo.
VIM. II. Whiting & Co. sold Tor the
estate of Henry NJ. Peyser the north
west corner Of Third avenue and East
10Th street. known as 1950-1952 Third
avenue. five story and basemen. lott
building, 0.3x100.
Charles S. Kohler, Inc. sold. with i'm
mediate possession, for John Christuar
the one story garage at 112-lS West
1O5th street, ILLS feet on West 105th
street, 81 feet on the rear line, 100 feet
on the easterly lire and 134 feet on the
westerly line.
MuItifamiIy House Sales.
The Ahl Company "a. II. Levy has
made a quick resale of the five story
apartment house, 44xl0o at 551-553 West
l60th street, adjoining the northeast
corner of Broadway, to a client Of
Jacob l. Berman, attorney. Charles
Berlin was the broker. Mr.. Levy
bought the house early this week from
the Augusta p. Rogers estate through
John p. Leo, Jr.. Both deals were for
cash. I. Witkind. attorney. represented
MI. Levy.
ments In 1856 East Sixty seventh street,
to be built by the Joint Ownership Con-
struction Company to the following
Mrs. Ethelbert Nevin, two apartments,
which will be converted into one large
one; also to Mrs. Grace Wood and
Mrs. Lydia r. Gilmore of Jamestown,
r. I.
Maurice Wertheim sold for George
Lowther, Jr.. and Christopher n. Low
ther as trustees OF the estate OF Chris
topher Meyer. the five story tenement
with stores at 23s East Forty-flfth
street. 22x94x irregular
Louis F'reidel sold for Harry Fischel
to Herman Tolk 390-396 Grand street.
northeast corner of Suffolk. on plot
75x1OO, each six story apartment and
stores. These buildings have been held
at s275.00o.