Security: Fee estate in plot running through entire city block,
with a frontage of 155 feet on north side of West 57th
Street, to a frontage of 135 feet on the south side of West
58th Street—and the 26-story hotel and clubhouse erected
thereon, completed in 1929.
Lease: The building is leased by American Woman's Association,
 Inc., for 25 years at an annual rental of $600,000 plus
one-half association’s annual net profits from operation of
building.
Note: This building has not been in operation a full year as
yet, but has a present occupancy of 88%, and a substantial
working capital and cash reserves.

One Park Avenue Building
{New York City)

First Mortgage Fee 6% Serial Bonds

Amount: $5,750,000; outstanding, $5,433,000.
Date: November 6, 1924,
Maturities: November 6, 1927 to 1939.
Interest: May 6th and November 6th.
Denominations: $1,000 and $500.
Taxes: 2% Federal.
Redemption: 102.
Trustee: Straus National Bank and Trust Company.
Appraised: Horace S. Ely & Company. $7.500.000.
Assessed 1930: $6,350,000.
Security: Fee estate in land with entire east side frontage on
Park Avenue, between 32nd Street and 33rd Street, extending
 back on side streets to middle of block, ground area
45,000 square feet—and the 17-story office. stores and loft
building completed in 1926.
Earnings: Issue has been reduced $307,000 in principal amount,
and data furnished show occupancy of 613,955 square feet
out of a total area of 656,869—with a rent roll of approxi-~
mately $1,200,000 against which interest and amortization
charges approximate $460,000.
Price Range: January-May, 1930—98-96.

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