The New York herald., 1922-05-26
PROPERTIES WORTH
S4,25O,OOO IN DEAL
Many Sided Sale Includes 5th
Avenue Mansion and Two
Midtown Buildings.

Real estate trading ran strongly TO
transactions being recorded involving
two or more properties Chief among
these was chain of deals negotiated
by the Charles F. Noyes Company in
volving about s4.250.000 and affecting
the ownership of two big midtown
buildings Fifth avenue mansion and
vacant and improved properties In The
Bronx, Brooklyn and Queens. Accord
ing tc Mr.. Noyes the chain OF deals
served to demonstrate that investors
are taking large Manhattan properties
for income purposes.
In the transactions the United States
Realty and Improvement Company
iiquidated two large units. To William
f. Kenny the company sold the Mer-
camille Building, an eleven story struc-
ture at the southwest corner of Twenty
third street and Fourth avenue, ex-
tending through to 40 to so East
Twenty-third street and As East
Twenty-second street. The building is
valued at s2,000.000 carries rent roll
of s2f0,000 a year and numbers among
Its store tenants many big concerns, in
Guiding United Cigar Stores Company.
1t covers a plot of 1880 square feet I;
fronts 175 feet on Twenty-third street.
S3 feet on Fourth avenue and 25 feet
on Twenty-second street. The build
ing will be held by Mr.. Kenny for in
vestment.
In the same deal the United States
Realty and Improvement Company sold
70 client OF Beardsley, Hemmens &
Taylor, attorneys. the former Adams
O'Neil Building, occupying the entire
block front on the west side of Sixth
avenue from Twentieth to Twenty-first
street This building was renamed the
Partola Building after it had been taken
over under lease by the Partola Manu-
featuring Company three years ago and
improved by the latter concern at a cost
OF about s250,000. The lease Is for
twenty-one years and calls for a net
annual rental of 100000 during the
last fifteen years of the contract.
In exchange for this building the
sellers acquired Fifth avenue dwell
ing in the Eighties, the exact identity
of which has not been divulged. In
addition the United States Realty and
Improvement Company also acquired
valuable improved and unimproved
properties In New York. Brooklyn and
Jamaica. including six lots on Southern
Boulevard. between 147th and 149th
streets: six lots on Timpson place. be-
tween 144th and 147th streets FIVE and
half lots at Castle Hill and Railroad
avenues: two lots at the corner of
Gleason and Leland avenues: two lots
on the south side of 149th street near
Timpson place: two lots on Ninety
first street Brooklyn. between Third and
Fourth avenues; two lots on Ninetieth
street. two lots on Ninety-third street :
two lots on Ninety-fourth street all in
the same general vicinity: twelve lots
on Tenth avenue and Forty-eighth
street. Brooklyn. and a large plot at
Jamaica.
The sellers also acquired the resi-
dence of sixteen rooms and four baths,
with garage and other buildings, at
Ninety-fourth street and Shore road,
Brooklyn, with frontage OF 100 feet on
Shore road. 21S feet on Ninety-fourth
street and n zoo foot frontage on
Ninety-third street This residence, the
first home of William f. Kenny. was
recently altered and renovated. All of
the properties taken by the realty COM
pany were bought on a practically free
and clear basis.
Negotiations are pending for the re-
sale through the Noyes Company of
the properties taken over by the United
States Realty and Improvement Com
pany. The latter concern was repre-
sented In a legal capacity by Babbage
& Sanders. while Clarke & Daley was
one of the selling companys advisers
In the transactions.
r. G. Redlefsen of Beardsley, Hem
mems & Taylor represented Mr.. Kenny
who has placed the management of the
Mercantile Building in the hands OF
the Noyes Company.
VIII Alter nth street House.
The Quesmere Realty Corporation,
Carlos l.. Henriquez president. has pur-
chased 336 West Seventy-seventh street
n four story house, which will be con-
verted Into ron-housekeepng apart
merits. The puicha ser was represented
by the ". Morgenthau. Jr.. Company.
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