Plot covers entire east side block front on Lexington Avenue
between 42nd and 41st Streets, with 175 feet frontage on
41st Street and 125 feet frontage on 42nd Street—29,625
square feet—and the 56-story office building, with entrances
on three streets, and 645,000 square feet of rentable area.
Junior Liens: These bonds are followed (1) by $3,000,000 Gen-
eral 6%s, due in 1945; and (2) a blanket mortgage covering
this and other parcels, due in 1940, the release price on this
parcel being $3,500,000.
Earnings: These bonds are the obligation of Combined Operat-
ing Corporation, controlled by the Chanin interests. No
information on earnings available.
Broadway and 41st Street Building
(New York City)
Leasehold Mortgage 6%% 1944 Sinking Fund Bonds.
Amount: $4,500,000.
Dated: April 1, 1929.
Maturity: April 1, 1944.
Interest: April and October 1st.
Denominations: $1,000 and $500.
Taxes: 2% Federal—Minn.,, Montana, Pennsylvania, Connecti-
cut, Vermont, California, Oklahoma, Maryland, West Vir-
ginia, District of Columbia, Michigan, Colorado, Kansas,
Kentucky, Nebraska, Wyoming, Virginia, Jowa, New Hamp-
shire, Mass.
Trustee: Straus National Bank and Trust Company.
Redemption: 103—for sinking fund, 101.
Appraised: May, 1929, Kenneth Slawson Hobbs, Inc., $6,750,000.
Spear & Company....... coven. $6,750,000
Assessed 1930: Land, $3,150,000; b+iliins not completed.
Prior Lien: Fee estate is subject to a Mortgage for $1,000,000
due June 1, 1930 at 5% held by Mutual Life Insurance
Company.
Security: Leasehold estate in plot of land occupying entire
block front on the south side of West 41st Street between
Broadway and Seventh Avenue, 92’4” on Broadway, 15710"
on West 41st Street, and 1186” on Seventh Avenue—area
18,222 square feet—building 33-story and 3-story tower.
Lease extends to 1955, net annual ground rent $125,000, with
three renewal options of 21 years each on 6% valuation
rental, is subject to a fee-mortgage of $1,000,000 and re-
newals or substitutions not exceeding $1,250,000 principal
