The New York herald., 1921-03-15
MARLIN ROCKWELL
BUILDING Is SOLD
Investors Buy New Structure
on Madison Ave-: West Side
to Have Big Garage.

The Marlin Rockwell Building. fif-
teen story store and office structure at
the southwest corner of Madison avenue
aud Forty sixth street. has been sold by
the MR., Inc, 10 a group Of investors
through Albert b. Ashforth. Inc, who
have been managing agents for the
property. The building was completed
about a year ago and was fully rented
at an excess OF S250,0o0 a year. II is
reported TO have cost $1,000, 600.
The structure stands on a plot 60xl00.
leased from the Phipps estate for TWEEN
ty-one years with two renewals. When
the lease was negotiated in July. 1919.
1t established a rate of $3.50 a square
foot, which was regarded at the time
as the highest valuation placed on Mad
ison avenue property north OF Forty
second street
Since the Marlin Rockwell Building
project was started the old Manhattan
Hotel. at Madison avenue and Forty
second street, was converted into an
office building by the National City
Bank: the new giant Canadian Pacific
Building on the West Side of Madison
avenue, between Forty-third and Forty
fourth stretes was erected and announce
ment was made that the Grand Central
Palace, on Lexington avenue, between
Forty-fifth and Forty-six streets, Is
10 be converted into an Office building
with big annex on Park avenue. In
addition to these important producers OF
business and office space in the Grand
Central Terminal zone, the tall Iiggett
Building, at the northeast corner OF
Madison avenue and Forty-second
street, is now nearing completion.
Tenants Buy 100000 Fiat.
Douglas L. Gilman & Co. announced
yesterday that a group of prospective
tenants have purchased the ten story
apartment house, 75x1C0, at 40 East
Sixty-second street, from Mrs. Anna b.
Bliss The buyers will occupy certain
portions of the house and will rent the
remainder OF the space to outsiders.
The property was held at 100000. The
brokers will continue as agents. The
impending sale of the property was re-
ported in The NEW YORK HERALD last
month.
Big Garage Building Planned.
Another large West Side garage prof.
ect was announced yesterday in con-
nection with the lease Cor Robert Hart
shorne and others of $50 and 55S West
Twenty-ifth street. a plot 17bx100, east
OF Eleventh avenue, to the Arcade Ga
rage Corporation for twenty-one years
with renewal privileges. Harris
Vought were the brokers' The lease
provides for the erection of a two story
commercial garage. Work will be start
ed on the project at once. Bardsed d
Prince and II. L. Mccormick were the
brokers representing the lessees. 1t fs
reported that the rental Is Sl7500 net
year.
British War Veterans Lease Club.
The British Great War Veterans Of
America, Inc. Lieut.-Col Warren NJ
Sage president, leased, through William
4 White & Sons and Frank l.. Fisher
Company. the five story dwelling, 22x75,
at 125 East Thirty-eighth street, north
west corner of Lexington avenue The
owners and lessons are Charles Stewart
Butler and others.
The property has been leased on
net rental basis. and Will be used as a
club house by the organization, in which
are Interested the Right Hon. Sir Auck-
land Geddes, Sir Ashley Sparks, Kermit
Roosevelt and other prominent persons.
Clark Estate Sells Corner, Parcel.
The four and five story building at
the northwest corner of Columbus ave-
nue. and Seventy-third street, 50x1O2.2
ehas been sold by the Clark estate TO
Nicholas c. Partos. president Of
the Partola Manufacturing Company,
through Pease & Gilman. Brown,
Wheelock Company represented the
sellers. This is the si1ty-fifth holding
which the Clark estate has disposed Of.
The property was held at $500
shoe Dealers Lease Park Row bldg.
William H. Whiting & Co. leased to
the Golden Shoe stores, Samuel G.
Golden president. for the One Park
Row Company. Harry Aronson presi-
dent, the one story building nj II Park
row, through to and including !, and
II Ann street The plot has frontage
of 203 on Park row and 65.6 on
Ann street. The lease is for twenty
one years at an aggregate rental In ex-
cess of $5O00o0. The attorneys were
Lurie & Feinberg, representing the One
Park Row Company, and Samuel S.
Rreslin representing the tenant