The Real Deal New York

This month in real estate history

1914: Recession brings large foreclosures

October 23, 2014 04:05PM
By Adam Pincus

The Simpson-Crawford department store

The Simpson-Crawford department store

From the October issue: A two-year recession that stretched into late 1914 precipitated a string of property foreclosures in Manhattan, including the once-regal department store at 641 Sixth Avenue along Ladies Mile, 99 years ago this month.

The lender on the property, the Equitable Life Assurance Society, filed to foreclose on $1.4 million in loans for the building and related properties between 19th and 20th streets, once occupied by the venerable Simpson-Crawford department store. [more]

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