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New-York Tribune from New York, New York • 31

Publication:
New-York Tribunei
Location:
New York, New York
Issue Date:
Page:
31
Extracted Article Text (OCR)

Insurance Men Have Parcelled. Out Big Zone for Themselves Expandirlo; East and North in Effort to Obtain Larger to modate Increase in Business Growing Out of Great War in eventualities, men 0 bank dollars on your your business or your prop? erty, have parcelled out for themselves very comfortable area in the down town business section. They are neigh? bors of hankers, stock brokers. lawyers corporations of Wall Street. Bast of Nassau and north of Maiden I.ane the land of the insurance man.

There he sits and plans the value of risk that you have asked him to Ice or. your business, your health or whatever it may be. for men will ho found In this section who will tak? a risk on anything, even insure against conditions months in advance. They have not preempted this en tire section, bur indications are that boundaries of the insur avxe district of New York are not per? manent by any means. Announcements made every day which sup? port belief that the insurance set will reach eventually far to of William Street, which it "Main Street" in the insurance city'.

Insurance Zone Will Be Larger The solid front of the old "Swamp." trade district established when Nov. York was a wee bit. of a place in the of the commercial world, has -tcked at several points by the spread of the insurance zone. The chief line of development is along or "Mam Street." Fulton Street has been crossed. Insurance interests have bought on Gold Street close Beekman Street in the last few weekSfc will replace those Like a great tidal wave the demands or" the insurance business will engulf the space to the north of these outposts up to the old Brooklyn Bridge.

This will come sooner than some folks im? agine, according to some of the most ngaciouB men in the insurance and real estate When the old bridge has been reached the tide will direct its full force to the east, leveling op? position to its progress like a great steam roller. Prospects Point Riverward Prospects are such that it is the opin i that ten years hence tne insurance business in New York will require most of the space east from Nassau Street almost to the East River, between the old bridge and enlarged Wall Street. To some men such expansion is as as if it was already a reality in? stead of a prognostication. The insur? ance business has developed in the last few years more than it had in the pre? vious quarter of a century. A nation bursting with commercial energy, with treasure houses full of money and a crave for speculation developed during the war, an unprecedented volume of business has followed for the men who take risks on health, wealth and business progress.

Larger plants than those maintained 44 re the Kaiser's for aggran? dizement made this nation the great trading counter for the world, hud to be provided to take caro of this increased business. Expansion has been the key noti everything in the insurance ill the keynote. Little concerns have grown large and large have become larger. A spread vr. t.

a a y. were ian some others had to to the Strong and powerful, to sui'render their space to provide, premises for the plants of the larger speculators in eventualities or risk me i concerns occupy of skyscraper buildings erecte I in answer to the de for Other concerns have reed to spread out in two or three widely separated buildings. Ex? clusive business homes ara nu longer the exception in the district. What Twenty Years Have Brought Twenty yei insurance busi? ness den Lane; to-day are only tw concerns south of the north lane started ten years ago. or inability of the offers made by Wall Street firms for their space led them out of the old district south of Liberty and Cedar streets.

Started by the leaders, others followed, forc? ing out of the new district concerns which could not contest the advance of the insurance business by meeting the increased rent which the latter was willing to pay. The coming of the Federal Reserve Bank to the block between Maiden Lane and Liberty Street, Nassau and William streets will cause a shift in the south tier of the insurance dis i trict. Bankers will outbid the in surance men for locations close to the bank. Broadway Was "Main Street" in Old Zone" The old insurance belt reached in zig-zag fnshion from Broadwav over to Pearl Street. It touched Wall Street I at one end and Liberty Street at other.

The buildines wore of few i- i insurance I the start of the development of William Street as the center of the insurance business came in 1892, when si r'- Stokes Building was erected at 45 to 49 Cedar Street, just of Street. The Queens ur tnce Company and the in? surance Company of Brooklyn were the first ncerns to move into the struct? ure. Th? old Continental Building, cli 4 ti Cedar Street, and ti.c building at the southeast corner of William and Cedar streets were erected the same year. If one were to visit the insurance district of thirty years ago he would find most of insurance companies on Broadway and in Wall Street. A di 1 rectory of the old district compiled by William A.

White together with a map of the old and new which is reproduced on this gives the names and locations of the occupants a3 fo'lows: Broadway No. and Shade Agency. No. Island Insurance Com- pany and Clinton Fire Insurance Com? pany. No.

Fire Inauance Company of Mercantile Fire Insurance Company of New York, Empire City Fire Insurance Company pli 'a Fire Insurance Company oi New York. Exchange Fire Insuranci Company and Henry Honig Sor Agency. No. Fire Insurance Company, of Brooklyn, No. Insurance Companr, I urance Company Lenox 4 re Insurance Company, Park Fire Insurance Company and lie orge M.

Coit Agency. No. Fire Insurance Company and Lorillard Insurance Cora followed by the Manufacturers and Builders Fire Insurance Company of rk, i re Insurance Company. lurg City Fire Insur? ance Company. I American Fire Insurance Company of New York.

No. Adee, agent, thi Equitable Fire and Marine Insurance Company and the Merchants' Insur? ance Company, both Provid? nee, 14 1. In this Kennedy's Agency, American Exchange Fire Insurance Compan; 3un Fire of London, an ---lived Columbian Insurance Company of Louisvilie. No. Insurance Com? pany and City of New York Insurance Company.

No. Insurance Company of Brooklyn. No. Fire Insurance Company, and later the Rhoadcs Agen? cy, representing the American and Firemen's Insurance companies of Newark. No.

Fire Insurance Plan L. I. City al Apartment to Cost Million First of Three Big Queens Boulevard Flats To Be Built Immediately Will House Hundred Families As the result of a transaction just closed by the Roman-Callman Com? pany, the construction of the largest apartment house in Queens will imme fliately be started on the Queens Boulevard, in Long Island City. This firm has sold for ranklin Pettit and the Herbert Dongan Construction Company the block having a 200-foot frontage on Queens Boulevard, extending from Lowery to Bragaw Streets, with a 150 foot depth in each street. The loca? tion is one of the most conspicuous in Long Island City, being directly op? posite the Lowery Street station of the I.

R. B. R. and the Second Avenue lines. The purchaser is the Queeens Realty Corporation, composed of Monroe S.

Goldberg, president; Edward Donner, ice-president; Aaron Woloshin, treasurer, and Arthur D. Hyman, secre? tary, which will immediately start the construction of a six-story apartment house building covering the entire plot, at a cost of $750,000, from plans prepared by Neville Bagge, archi A. W. Feinberg, attorney, rep? resented the The brokers have secured for the purchasers, build? ing and permanent loans of $435,000, and an option from the seller on the adjoining block fornt on Queens Boulevard, 200x500, on which they pro construct three similar units. The building will have moderate priced apartments.

Entrances will be from a central Italian garden, having a length of 15 feet and a depth of sixty-two feet and laid out with paths and ornamental shrubbery. Each floor will contain ten suites of four rooms each, ten of three rooms and two of five rooms each. Te entire building will house ver 110 families, with fourteen stores on Queens Boule? vard. Vuyer of Morris Ave. Corner Plans Apartment for Site Samuel Roseff sold five lots at the twner of 181st Street and Morris Ave to Hyman Shatz, who plans to a iive-story apartment.

Smith sold for R. Dittmera the plot at the southwest j' of Grand Concourse and 180th 100x100, to an investor; also Andrew Littlejohn the twc dwellin? 2180 Walton Avenue. Francia S. Nollen sold to Markus 600 Oak Tree Place. 25x90, southeast corner of Arthur Avenue.

Albert H. Harris sold to the Single ftea.ty ompany the plot, 100x106, on we jo-ftth side of 149th Street. 300 w-jst of Courtlandt avenue. Shyster Landlords Should a Shyster Tenants are shyster landlords and shyster tenants. The trouble is that the former have square deal tenants and the latter square deal landlords.

If the shys- ter tenants could be transplanted to the shyster landlords' property they could fight it out among themselves like the Kilkenny cats until they were all killed. It would be good riddance. "The majority of landlords to? day are not receiving 5 per cent net income, when they ought to be receiving to 15 per cent, and many of them don't receive a cent net income. The lack of vacancies has saved most of Browne, president United Real Es 1 Owners' Association. 1-1 New Jersey Realty Commission Tells Of New License Law The New Jersey Real Estate Com-1 mission has -1 a "circular letter" regarding the new real estate license law, explaining that the "contents therein are authentic, hut Without offi- cial force and effect at this date." The license act lixes it functioning date as of September therefore official or? ganization cajinat be effected until then.

The circular states: "It has been advisable to make the un-officially, in response to a great1 many inquiries received for in forma? tion, which communications are re spectfuHy acknowledged and duly filed for the earliest attention. "Official information, blanks and Bui- letin in the above connection may not be ready for distribution until after the official organisation meeting Sep- tember 6, 1921 3 of Chapter 141, Laws of 1921, New Jersey). "It is contemplated issuing 'Bulletin 1' with 'introductory Statements' and 'Descriptive together with copy of 'Certified Copy of the for Btate-wide distribution. "'Bulletin 1' issued will contain 'Re? quest' (blank 1). a colored insert which blank is the first to be filled out.

There will be loose copies of 'Request' to be had earlier, on application. "In tin- mean time if a broker or! salesman is likely to want an early copy of 'Bulletin distributed before? or after SeptembeV 4 it is advised that they send in name and address now to Executive Office, Jersey City, Mont-, gomery Street, for filing, Vs others are, doing. "This will enable all such to re? ceive and return early 'Request (blank, 14 the first step necessary in order to Speed Service Economy TUCKER LEWIS Industrial Buildings 103 Park Avenue, N. Y. City Tel.

Vanderbilt 3523 obtain after September an Applica- tion (blank 2) for a License. "The applicatii.n, when received, if returned promptly and in com form to the commission, will expedite the earlier issue of their license, pro? vided no objections are filed. "Every person, firm, association, partnership or corporation, whether I operating under a trade name or other? wise, to engage, either directly or in? directly, in the business of real estate broker or salesman within New Jersey, must obtain a license, and it is unlawful to be without such a li after October 1. "If firm, association, partnership or corporation designate one official member to take out firm, el license, ail other members and thereof, acting, must each obtain a salesman's license also (Section 1-2 of act)." Women Investors Dispose Of Apartments in Bronx Play Interesting Part in Lively Trading of Fiais in the Northerly Borough Annie E. Ballantine sold to Emil Fleischi the five story apartment, 21 113.11? irregular, at the.

southeast cor? ner of Brook and Westchester avenues. Madeleine W. Macy sold to dayman 1139 Longfellow Avenue, a four-story apartment, 25x100. Emma L. Crawford sold to William H.

Cawley 315 and SIT Pleasant Avenue, southwest corner 1 17th Street, a six story store tenement, 35.8x94. Reinhard Schaefer sold to Rupert Mondrak 3418 Third Avenue, a story T)lat, 22xl01x irregular. The W. D. Realty Company to Giovanni Trapani the four apartment, 71x30, at 1221 Brook nue, southwest corner of KiSth Street John J.

Lynch sold to Louis Wals 984 Morris Avenue, a five-story apar ment, 37.6x104.10. Ralnh Ruaso sold the dwelling, LI Ox 98, at 3060 Ea it Tremont Avenu Airs. A. Smallen to Anzalone, This is the first sale of the property in twenty years, Palladino sold for Lui to Frank Locascie 812 Plea Avenue, a four-story dwelling, li Joseph sold to Gustav? Geney 1021 Fox Street, a two dwellirig, 16.7x100. Julia Hecht sold to the Seymour Realty Company 1352 and 1354 Wei ster Avenue, southeast, corner of Ann.

Place, two three-story dwellings. 34x9? The S. T. J. Realty I orporation sold to Ben ja Wi 25.11x100.7.

on the west side of Heath Avenue, feet north of 229th Street Spanish Church Sells Houses In Rear of Edifice on 13th The Church of Our Lady of hipe, a Spanish church, in Fourteenl Street, seid he pr perty in th? of the church. West Fiftei Street, The adjoining owner is the of the Montgomery Estate, they sold 22? Wesl Fifteenth An association bought the two ho at price c.f approximately $1S, each. Colonial Home Pelhair. For Maas Mary MaeMan George Howe sold for Trumpy an English Colonial resid? in Second Avenue. Pelham, to Mary Mac.Manus, cf New York; a sold to the Elen Construction three lots on Pelhamdale Avenu ham Manor, and for the Cooley Realty Company, to W.

II. Duff, three plots in Pelham Heights. Sale of Yonkers Residence Thomas S. Burke sold 10 Sedgwick Avenue, Yonkers, for Alfred H. Bal lard to Frank Nowickt, The property has a frontage of 200 feet on Sedgwick The sari" broker reee ni- perty for Mr.

Nowie 1 Hume. Safety Place for Duplicate Plant a. Provided at Last Storage of Property Records! in Begun Three Years Averts Risk of Great Loss By John J. Hopper of the most important, things that I had set my heart upon doing il? Registrar has at last been con When I retired from that I office en January 1. 1918, I left the duplicate plant bound in volumes, boxed and ready for shipment to aj ace i safety in the Catskill water- shed.

The Water Department had assigned I building formerly used by the engineers in their surveys, but now no longer in use. in which to store the duplicate plant. Arrangement had been made for the necessary al? terations. Steel shelving had been bought, and even the cartage had been provided for. My term having expired, the finish? ing of this important project fell upon my successor.

After three and a half vonrs' delay the project has at been finished and the duplicate plant its now removed to a place of safety away from the location of the origi? nals. Although not stored in the same assigned to me, it is in one equally as good. New York County is to be congrat? ulated in that fcr the slight cost of about $3,000 saved by me from the al? lowance the office it no lonjrer runs the risk of suffering a possible loss of millions of dollars from the total destruction of its real estate The calamity that befell Chicago, San Francisco. Jacksonville and othc places cannot happen now to York County. Would it not be well for the other boroughs to hasten the com? pletion of their duplicate plants and store them safely away, too? Acquire Island Home Moffatt Schwab sold for Agnes Lindemann the residence on Ward Avenue, Ward's Hill, S.

to Frederick Huber. LlUD rronei Bought by Army and Navy Club ana avy Ciuo America has purchased the five Btory building at 112 West Fifty-ninth Street, formerly the property the G( rman Club, and will formally open it on September 15. The building on plot 75x110, and is one of the attractive structures in entrai Park South. It was designed by McKim. Meade White, and equipped with spacious reception and lounging rooms, dining tbly halls, bowling alleys and billiard rooms.

There are aiso fifty seping apartments, with private baths and showers. The building redecorated and refinished. The investment wiil approxi Late Trading lu Apartments And Dwellings Bulk of Tenement Sales in Harlem and Lower East Side Improvement for on Lexington Ave, Fred H. Stellhorn sold to Frank D. Kali 200 West 103d Street, a rive-story flat, 20x76x irregular.

Charles W. Stewart sold to Maria D. P. Lessa 180 East 109th Street, a four story tenement, 18.9x100.11. P-.

Cincotti sold to Vincenzo Braceo 341 East llfith Street, a three-story house, 22x700.11. Pregulia Lotti sold to Antonio Pel ligrine 20 Bedford Street, a rive-story I apartment. Morris A. Eiseman sold to the Phi lactoa Brothers Realty Company 365 Bleeckor Street, southeast corner of Charles Street, a three-story store tenement, 20x47.5. P.

I. Simonelli soid to Giuseppe Loci cor 208 Thompson Street, a six-story store tenement, 25x100. Alfred J. Amend sgld to David D. Weinberg for $23,000 the six-story atore tenement, 25x100, at 86 Norfolk Street.

Carl Rodenburg sold to Nathan 205 Elaridge Street, a ftve ry store tenement, 25x100. Charles J. F. Bohlen soid for Philip and Carl Rodenburg the five-story rout and four-story rear tenements at 205 Eldridge Street. right Barclay.

resold for John Sheehan 513 Grand Street and the rick building 315 Henry Street. The uildingB were soid to tenants who occupied them for many years. Lexington Avenue Houses Sold M. Morgenthau jr. Company sold to a clieit for the Stability Reality Com? pany the three five-story brown stone Jwellnigs 848 to 852 Lexington Avenue, between Sixty-fourth and Sixty fifth streets.

With this purchase 854 Lexington Avenue is the last remain? ing dwelling of a row cf six purchased ast year by the present seller. It is that immediate will be made to the property. Charles Wynne and Louis H. Low, operators, purchased from the Ray? mond estate the four-story dwelling ontaining twelve rooms and two baths 60 West 95th Street, 20x100, through Simon. Clara J.

Jabionski sold to Blanche Van Waikenburgh 214 Lenox Avenue, four-story dwelling, 20x80. Leroy Coventry sold for Emily A. C. ina 323 West Eighty-eighth Street, four-story dwellnig, 20x1 Thomas R. Connolly sold to Paui j.

Fox 279 West 182d Street, a three itory dwelling, 16.8x99.11. )eal Pending by Company In West 57ih Street Buildings N'(-gotiations are pending for the by the Metcalfe estate to the wly organized 117 and 149 Went ifty-seveuth Stree; Corporation of tne ir and five story buildings 147 and 149 "West Fifty-seventh west of the Calvary Baptist ireh. The acquisition of a twenty one-year of the realty is being considered by the new company, which hr.s for its directors J. H. Hughes, A.

Lowenhaupt and C. E. Betes. In the event of the deal being closed the grade floors of both buildin? altered into stores and the upper stories converted into apartments. Sells Lease in 31th Street Arthur Fischer has for Martha McBride the furnishings and in the two four-9tory bu.

314 and S16 West Thirty-fourth Street. i Any One Ward Real Skyscraper? Singer Tower for Sale A NY ONE who has a few million dollars lying idle and would like to put them into the purchase of a real skyscraper might be inter? ested to know that the Singer Building, one of the three great towering heights of New York, can be bought. At least two well known real estate men have been offered the building. They lost interest in the property because of the high valuation placed on it. by the owners.

The story is that $10,000,000 is the price that the Singer Manufacturing Company wants for its monument, the tirBt great tower office building to be erected. The story that the Singer Building had been offered for sale caused a sensation in the realty market yesterday, because it was the first time that the Singer com? pany has intimated that the prop? erty could be purchased at any price. It was erected as an adver? tising monument for the Singer sewing machine. The erection of the Singer Build? ing started a competition tor height supremacy which has resulted in the construction of the Metropolitan Tower in Madison Square and the Wcolworth Building, City three of the tallest buildings in the world. The Singer tower was a challenge to other skyscrapers.

It was expected that this structure would discouraga further attempts to go higher into the clouds. 84 Lots in Pelham Sold For New Residence Park indsor Heights Property, Partly Within City Boun? dary. To Be improved lale of a large parcel of pr containing eighty-four loi known as Windsor Heights. Pi Manor, situated on the border lin partly within the boundary of New York City, overlooking Pelham Bay The was originally developed by the Pelham Bay Park Land Company, of which William Btsaall. of New Trust iretary and tres reorge Howe to the Anoka Construct.or.

Company of New York, of which 0. Nielsen i- pregi propefty acquired co of practically all the remaining plots, held at $60,000. The purchasing "com? pany plans to complete the develop? ment of the park for homes. Hospital Sells Six Buildings In East 116th Street Leon S. Alttnayer for the Syden ost Graduate Course and.

ta! the six buildings at 331 to 143 116th Street, six three-story and base? ment institutional b'jildinc Kilv 100.11. Mr. Aitmayer was also the broker in the recent of the premises 343 to 347 Last ll'ith Street to the Amer? ican Red Cross. Esiale to Improve -i3d St. Site The catate of I.

Charles, fruit nn and grocers, have ordered the con? struction of a six-story building, i2x 100.5, en Forty-third street, just weet of Vanderbiit Avenue and adjoining the wing of the new Liggett on the Hst. Charles L. Berg, archi? tect, estimates the cost at Risk Takers Were in Wall Street Until a Decade Aso; Now Establishing North of Fulton Street and Are Taking Places in Company of New Yoj later re 11 3 Company, corner of No. iuranee Coa So, 173 A rtford Ag Pacifi at 80 Pi? Fire Ir.sur mpany of and La? fayette Fire Insurance Company of New and the M. Agency.

No. 161 Com Giohe Company Coramercia i Com Ni pie Co. Agency, reney, Stay inl Insurance Company, Hamilton rire Mutual Fire Company of New York, which rward moi dar Street. No. 153 -Merchants Insurance Com ol New V.r.

the present -ants Fire A- urance Corpora and Guardian Fire Irsurance panv of 3 which was previously at If" Broadway. No. County Fire Insur? ance Company and New York Bowery Fire Insurance Company. No. 138 Niagara Fire Insurance Company, which later represented also the nian insurance Company.

No. 119 Home Insurance Company of New 115 Insur? ance mpany, now the Great Ameri ran. which afterward moved to 35 Nas Bau Street and thence to its present home. Also at 115 Broadway was the Reassurance Company, managed by Paul E. Rasor.

No. Insurance Com? pany, City Fire Insurance Company and D. Kirby'a Agency. Wail Street No. and London 2nd Globe Insurance Company.

No. 37-39 Queen Insurance Com? pany, which later moved to tlO Wall Street, and Commercial Union Assur? ance Company. No. 59-61 Norwich Union and Phoenix of London. No.

Union and Phoenix of London, mo-ing to this address from Wall, to which building it sub ntly returned and then moved to 56-58 Pine Street No. Fire Company, south? west corner of Wall and Pearl streets. Insurance Com pany, Standard Fire Insurance Com? pany of New York and agency of Hart? ford Fire. No. Fire Insurance Com? pany.

Nos. Insurance Corn puny, after leaving 37-39 Wall Street. No. Fire Insur? ance Company (not the present com? pany of that title). No.

Insurance Company and later Westchester Fire Insurance CoTyionriy. No. Fire Insurance Company, followed by the agency of the Aetna and Hartford. No. York Fire Insurance Company.

No. Assurance Corpora? tion, Wall Street, corner cf Water Street, beyond the eastern limite of map. The Insurance Company cf North America was nt 16 Exchange Place, a block south of Wall Street. Pine Street Nos. Fire In? surance Company was at this address before going to 66 Wall Street.

-Mills Ford Agency and later Banta Courtney Agency. No. Henshaw were once here. Nos. L'nion, city department, and in the basement Ack erman, Deyo Hilliard; upstairs, the Roosevelt Boughton Agency.

Nos. Union, city department, vas located here. Xo. 22 Han-burpr-Bremen Fire In? surance Company and Rowel" Hone Agency. No.

CIuiT Per riu. later at 53 William Insur once Company, Nassau Fire Company and M. Whiton Co. Agency. No.

40-44 Lancashire Insurance Company was her? before r.uving to 25 Pine Street. United States Fire Insurance Company. Nos. Fire and Life Assurance Company of London. 56-58- Norwich Union Fire ln Ceder Street Mob.

Bremen Fire Insurance Coran ntal Insurance before removing to 80 Lane 42 Fire insurance Company of Mew York, and later the Manchester Assurance Company. No. 45-40- Queen Insurance Company Cedar Street) and of Brooklyn. No. 43- London and Fire Insurance Company, followed by the alliance In Association (from 30 Nassau Street) and still later W.

S. Banta's Agency. Liberty Strwt No. Fire Insurance Company, and later Standard Fire In? surance Company of New York. No.

60 I. i'rek Agency afterward C. M. Peck latex removed to 81 and 3 Pine Street, when the firm was Banta Courtney. No.

were located at vari? ous times the Sun of London, the Al iar.ee Insurance the Han over Fire Insurance Company, Weec ii Kennedy and other insurance in terests. Herrick Aurency. No. of Roweil Hon? and Alfred A. Peck.

Nassau Street No. 40 Ilar.ovsr Fire Insurance Com ipany (before moving to 34 Pin No. 35 Liverpool Si London A Glob aran ce Company rebuildin 45 to 4S William Street, where it previously located and to which it late and Weed Kenned Agency i which Ir.ter movrtd to 12 Broadway and then to 37 and lit Street). No. SO- Alliance Insurance Associi company organized bv broker No.

of London, before moi ing to 52 Pine Street. William Street Nos. 66 and 68 -Commercial Unie Assurance a r. j. 52 an I 54 -Nortb British Me eantiie Insurance Company.

Hall Henshaw (later at 35 Pine at I Lothrop Scott (afterward 8cai Alexander Taibot). No. L. Perrito Agency, i No. London Glol i insurance Company; agency of W.

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Years Available:
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