27 building sale

ouroakland Member Photo

Clipped by ouroakland

27 building sale - 27, Buildings! m Huge Eastbay Sale 17 Oakland,...
27, Buildings! m Huge Eastbay Sale 17 Oakland, 10 Berkeley Office And Apartment Properties Change Hands in Multimillion Deal t Twenty-seven Oakland and Berkeley bff ice and apart- . A 1 a . it. 1 " il . 5 . meni. Dunaings, togexner wnn anotner in oan francisco, were sold today to a syndicate of Eastern and Northwest rn investors in one! of the biggest; "package" real estate transactions in Pacific Coast history. Seventeen Oakland and 10 Berkeley buildings changed hands in the deal Included in the multi-million dollar ideal, the largest ever recorded in f Uakiand (were the Financial1 Center and Latham Square office buildings; the Hill Castle and Bell evue Sta ten apart ment buildings in Oakland, and the Picardo Arms Apartment in Berkeley. i The nine-story Rialto Build ing at 116 New Montgomery St., Pictures on Pag 19 Can Francisco was sold in the transaction. : ' The . buildings were owned by numerous persons. Ail were under management of Morgan and Peacock ' Properties Co, Berkeley property management firm, which arranged th sale. SYNDICATE IDENTIFIED Buyer was a syndicate composed, of New York" investors headed by Roger L. Stevens, and Seattle, Wash., group; headed by Floyd R. Clodfelter and John A. Metzger, . J , Tax stamps appearing on deads for the property involved in the transaction indicated a total value of $1 1,000,000! according to Thomas W. Fitzsimmons, county recorder. -, 'S:' ::' t ?!: 1 : Stevens, a nationally lenown teal estate operator and producer of Broadway shows, at one time was head of the 'syndicate which owned the mpire State Building in Nyr York, i Clodfelter is president 'of the rates" the Mayflower, Waldorf and new Washington ttoteis, ing, all in Seattle, along with several 1 California motels and the Mar Monte Hotel in Santa Barbara. Metzger is associated with the Doric Co. ,' . i TWO SEPARATE DEALS Two separate deals were, in volved, according to Jules J Agostini Jr., and Mrs. A4 Han-ford ; Morgan, partners in the Morgan and Peacock firm. They were: : i 1 Sale oi the buildings. 3 Sale of the Morgan and Peacock Properties Co.. Agostini said some of the original Oakland area investors may join the new investment group. ' The sale was completed this morning with signing of final papers at the Alameda County East Bay Title Insurance Co. Oakland office buildings in solved are: The 18-story Financial Center Building at 405 14th St.: ' The 15-story Latham Square Continued Page A, Col. 7 42 Perish as vf: Ijv.y . ,': :. .' ' ' Heavy! Rains Flood East By The Associated Press The elements rained death and property destruction of many millions on six northeast erh states over the Weekend. The toll of persons known or I s r i i presumed dead rose to 42. The j sun broke through leaden iclouds in New; York City and other areas today and the New York Weather Eurea said at 1:15 a.m. that the worst te over, i : ' J ' f From! his sickbed in Denver, President Eisenhower issued assurances .- of jaid to the storm-stricken sectors. Vai Peterson, d ir e etbr of . Civil Defense, boarded an Army plane to in spect the flooded areas and re port back to the President. Army, Navy; Coast Guard, Civil Defense units, police and firemen toiled; throughout the weekend in rescue and salvage ..... ..... W.' J . I from done. . - ; !'' 1 THOUSANDS SUFFER The American Red Cross said about 6,900 families have been affected in the storm areas 3,200 in Connecticut, 1,500 each in New York and New Jersey, and 700 in Pennsylvania. Dozens of bridge and roads are, washed out, rail transporta tion is snarled or suspended, power lines are down, and Strug gling citizens m many, commu nities face the; danger of con taminated drinking Water. "The three days of rainfall ranged from 3.75 inches in New York City to more than 11 inches in Danbury, Conn. This com pares. with a high of 17 inches in some areas during Hurricane Diane last Aigi 18-19. NOT SO SEVERE Officials said deaths and prop erty damage would be far below that caused by Diane. That hur- ricane produced ' flash floods which caught prepared. Irk communities tin the latest storm, residents had time to make preparations which saved lives and s property. I Disaster teams, tested by Diane, swung into im mediate action this time. 1 Pictures on Page B erior.Dui sneic wot;, Ji-kOch a -,

Clipped from
  1. Oakland Tribune,
  2. 17 Oct 1955, Mon,
  3. Page 1

ouroakland Member Photo

Want to comment on this Clipping? Sign up for a free account, or sign in