Security: Leasehold estate in plot on the southeast corner of
Fifth Avenue and 61st Street, 100 x 270, lease extending to
1950 with two renewal options of 20 years each—ground
rent on sliding scale, the average during the bond term
being $322,619.05. On this site is the new 4l-story Hotel
Pierre, with 738 guest rooms, and other public space.
Earnings: The building is about completed, so that no earning
statement will be available for at least a year. The manage-
ment is experienced, high-grade and bespeaks successful
operation.
Price Range: January-May, 1930—97-97.
Fox Office Building
(New York City)
First Mortgage Fee 1942 Sinking Fund 6% Bonds.
Amount: $1,700,000.
Dated: January 1, 1927.
Maturity: January 1, 1942.
Interest: January and July 1st.
Denominations: $1,000, $500 and $100.
Taxes: 2% Federal—Conn., Penn., Maryland, Mass.
Redemption: 103 to 1930; then 10214 to 1933; then 102 to 1936;
101% to 1939; 101 to 1941; par thereafter.
Trustee: Guaranty Trust Company.
Assessed 1930: $940,000.
Appraised: $1,853,474.
Security: Fee estate in land fronting on Tenth Avenue be-
tween 55th and 56th Streets, 200 feet on Tenth Avenue,
south frontage on 55th Street 275 feet, and north frontage
on 56th Street 293 feet—three-story concrete building used
for laboratories, offices, studios. etc. 133,500 square feet of
Hoor space.
Earnings: Building leased to Fox Film Corporation for three
years beyond bond term, at net annual rental of $300,000
plus taxes, operating expense, etc. The bond interest
amounts to $152,236.
Fox Film Corporation owns the stock of the obligor, Fox
Film Realty Corporation, and its earnings are reported in
Standard Statistics, as averaging $3,040,773 per annum for
last seven wvears.