building erected thereon with a rentable area of 69,217
sq. ft.—in the Grand Central district, about one block from
“World’s busiest Center” —42nd and 5th Avenue.
Earnings:

1927
1928
1099

Available
for interest Interest
$121,763 $70,662
117,686 70,086
110.340 683.646

Times earned
1.72
1.68
1.61

Price Range: January-May, 1930—95-921/

Lefcourt-State Building
(New York City)
First Mortgage Leasehold 611% Bonds
Amount: $1,800,000; outstanding, $1,745.000.
Dated: April 25, 1927.
Maturities: Semi-annually April and October 25, 1929-1943.
Interest: April and October 25th.
Denominations: $1,000 and $500 ($100 in 1943 maturity only).
Taxes: 2% Federal—Penn., Conn., Vt. Maryland, D. C., Va.
N. H.,, Mass.
Redemption: 104 to 1932; then 103 to 1937; thereafter 102.
Trustee: Straus National Bank and Trust Company.

Appraised:
American Appraisal Company...
Spear & Company........
Assessed 1930:
Land oioivnvovins. on $1,900,000
Land and building........ . Cee eeeee.. 4,540,000
Security: Leasehold estate in land at the northwest corner of
Broadway and 37th Street 104 x 195'10%"”—and the 24-story
office and loft building erected ther¢on. Lease runs for 85
years from 1926, at present rentals of $155,000 to 1948. No
lien prior to this bond issue can be placed on the fee or
the leasehold. This leasehold is regarded as having a value
in excess of $1,000,000 according to recent appraisals made
on the sale of the fee.
Earnings: This property is owned by 1375-1383 Broadway Corporation,
 a wholly owned subsidiary of A. E. Lefcourt

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