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Show VINCENT ASTOR SELLS BIG BROADWAY SITE NEW YORK Nov. 4 Vincent Aetor cold another hip Broadway parcel yesterday yes-terday seven building at Nos. o-16-5f6 and Noa. so-92 Crosby street. ( harlos F. Noycs company nepotiutod the deal. The buyers are Everett, Heaney &- Co. The buildings cover rw.-000 rw.-000 square feet. They contain elpht elevators, and the largest Nos. 546-0 :s. with No 80-8S Crosby Street, containing 130,000 square feel of space, win be oc-k j cupied by the purchasers. Thc tran-! tran-! section was on a strictly all cash basis. Frank J. Heaney. president of thc firm. IS vice president of Chatham anl Phoenix Bank. He has been the Tiost active buyer of Broadway property during dur-ing the past few months. In addition to the eleven-story building Nos. 474-476 474-476 Broadway and No. 38 Crosby street, ho purchased No 507 Broadway, through to No. 170 Mercer street, and only recently re-cently a capitalization of Broadway Realty Real-ty Co. was increased from $150 000 lo s.lfiO.ooo. so as to make additional purchaser pur-chaser in thc district. The company was forbicd by him and bis partners, Silas K Everett and Malcolm R. Lawrence ' "I have always been interested in rent estate as an Investment, and as a result re-sult of forty years of active business experience in I ho Broadw a: district about Canal street. I have reached .hi conclusion that no part of New York otters ot-ters as desirable a field for successful Investment as Broadway property." said he yesterday, "particularly in the downtown down-town district. I believe property norh and south of Canal street will bo greatly great-ly Improved after the New Vork & New Jersey Vehicle Tunnel is completed. This improvement will permit merchants to get their Roods into New York CUv without lighterage and will save tremendously tre-mendously in truckage expense. Then acain, Broadway bus a certain definite', tangible, commercial value to thc m:r- chant which no other street possesses. It Is known thc world over, and this Is an asset In itself. Furthermore, when one considers that downtown real e- - ate is limited in amount and that all of our leading exchanges, large banks, trust companies and bankers own thetl buildings, and that thc city is Increas ing at the rate of jno.OQO to 230 000 peo- au pic each year, on the basis of supply and demand no better investment can oe made than downtown real estate." , |