This month in real estate history

1958: U.S. rejects private bids for Ellis Island
The federal government rejected 21 bids from private investors who were interested in purchasing the famed Ellis Island, 55 years ago this month.

In 1954, the federal government stopped using the island — which served as a gateway to 12 million immigrants for 65 years as they were processed and entered into the country. Two years later it was announced that the U.S. General Services Administration would sell it. The GSA valued the 27.5-acre island at $6.3 million, but the bids fell far short of that number.

Indeed, developer Sol Atlas submitted the highest bid, which was for a mere $201,000. His proposal called for a $55 million redevelopment of the land into what he called “Pleasure Island,” which included a 600-room hotel and a cultural center.

The federal agency tried several more times to sell Ellis Island, but never did. Then in 1965, President Lyndon Johnson added it to the Statue of Liberty National Monument. The island was opened to tourists on a limited basis from 1976 to 1984, and in 1990, the island’s main building was reopened as the Ellis Island Immigration Museum.

1923: City bans climbing buildings by “human flies”
After a daredevil died in a publicity stunt to promote a silent movie, New York City banned the scaling of the walls of buildings for advertising purposes, 90 years ago this month.

The city passed the ordinance just weeks after a 32-year-old professional steeplejack died while climbing to the top of the 17-story Martinique Hotel, located at 32nd Street and Broadway. At the 10th floor he lost his footing and plunged to his death to the horror of the thousands gathered in Greeley Square.

The film’s distributor, Pathé Exchange, had hired him to promote the romantic comedy “Safety Last,” starring the popular actor Harold Lloyd.

The new law banned what its chief sponsor called “human flies” from scaling the sides of buildings as a form of promotion. Violators were subject to fines of $10, 10 days in jail, or both.

In June 2008, with that ordinance long dated, two climbers scaled the side of the 52-story New York Times Building at 620 Eighth Avenue. Another climber tried a month later but only reached the 11th floor.

That September, Mayor Michael Bloomberg signed a law that banned climbing or jumping from buildings (or other structures taller than 50 feet) without the consent of the owner. Those convicted of violating the new law face up to a year in jail and a fine of up to $1,000.

1900: Madison Square Park lots sell for record price
A popular hotel and adjacent theater near Madison Square Park broke a record for the most paid for a piece of city real estate at an auction when they were sold 113 years ago this month.

Developer William Eno purchased the Fifth Avenue Hotel and the Madison Square Theater, located between 23rd and 24th streets, for $4.225 million at a packed open-cry auction in Lower Manhattan.

Bidding started at $3 million, and after rising quickly, slowed to increments of $5,000, according to the New York Times.

Finally, when the bidding stopped, “amid perfect silence [the auctioneer] called out the largest bid that had ever been made for a piece of New York City real estate,” the publication said.

The hotel, built in 1859, was popular with U.S. presidents, including Rutherford Hayes, James Garfield and Chester Arthur, who each stayed there when visiting New York. The adjacent theater was constructed in 1880.

Both buildings were demolished in 1908 to make way for 200 Fifth Avenue, which, after World War I, became known as the Toy Center. Today the building is owned by L&L Holding.