Control of the Woolworth Building passed from the heirs of F.W. Woolworth, 5 and 10-cent store merchant, last week when the world’s tallest office building was sold for $11,000,000 cash by the Broadway-Park Place Realty Company to the Woolco Realty Company. The $11,000,000 ultimately will be distributed among the heirs. The transfer was forecast several weeks ago.
The original cost of the building, completed in 1912, was $13,500,000, and its assessed value is $11,250,000. –New York World
From the front page of the Smithfield Herald, April 8, 1924
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