New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-22
RIG BROOKLYN REALTY DEAL
COMPANY SELLS BONDS IN BOSTON TO BUY
Sr-RI-RBAN FARMS.

One o. the largest deals In Brooklyn rea' e''a'7
ever attempted under way IN Boston 5e9'e'u"'
when 81 0OO0 900 OF bonds Of the Brooklyn De'eoP
nAnt company OF New-York City were offered Tor
sale 1t was said that $4,000 Of the bonds were
cola beeoro N q m, The officers said in the morn
ing that the rest would be placed before night
SIXTEEN Brooklyn farms are involved In the rahsdc~
ton 49,
The Brooklyn Development Company OF New ioih
civ was recently organized with capital stock OF
e. nno ooo II has for its object the purchase and
retention OF unimproved lands William e. Harmon
nres,dent Of the company. has handled the present
deal and his firm Wood, Harmon Co. o. 40 ~
BROADWAY will negotiate all sales.
Mr. Harmon quoted as saying that SeS'e'
DAYS deal involved land valued at 100000 made up
- = ,,,,r,ber Of pieces as follows: one hundred
and ,uenty-fve acres the line OF the prospect
park and Coney Island Railroad. at Twenty-secoho-
ave and Kings Highway, 1875 acres on the me "
ocean Parkway. extending to the prospect ram
and Coney Island Railroad; 40 acres AZ hi"s ms
nay and Ocean-aye 40 acres in Oceah-aNe'' De-
.o, Ayonues G and L: 20 acres In Utica ave be-
,.oor Avenues | and K. 100 acres on the line OF
cburch-ave East Broadway and Remsen-aVe.' ~
acres between Church and Clarkson sts' anu o.
acres OH the line OF Rockaway ave
"Our purpose" Mr.. Harmon was quoted YESTERDAY
os saving is 10 control these lands at low value
T., o~5or 10 have material TO develop when the real
oe,ote IN Rrooklyn has become so high that II IS
on, or the market to those who sell properly W
neonle of moderate means. The situation III bIooA
Ivn I'm nv opinion. is unparalleled IN the O"l'eu
states Within mile OF whore real estate Is SELL
ing NJ the rate Of $1,000 a lot. or $4,000 an acre
we are now buying at $500 acre. This same
nronartv soils in the northern part OF New-Hork
c,,v for from $4,000 70 $4,000 a lot Double the
distance in upper New-York costing twice the rare
and taking twice the time TO get there lana values
average $1,000 an acre.
AT the same time that these values we're grow
ing from small to large In New-lork Cit! values
| I'm the outving sections OF Brooklyn practically
stood still This remarkable fact was due 70 the
absolute lack OF transportation facilities BEFORE con-
solldation Since the present plans OF the trans
nortation companies began to mature values nave
materially increased and It is certain that they
will continue to improve with great IapIulty %
the people come 10 a full realization or what re
combination O. all the surface ana elevated iaa..
roads, with consequent quick trahsi. a"b boro,,ap
fares TO all the suburbs. means 10 this pofous"
"i'nlmproved lands I'm Kings County will he sell.
ing at or near ten times the cost at pteses n ,,
when the city grows over them. but just as soon
as Eew-York people recognize that consultation
really means one city, and that people cannot pe
bound into narrow room or res.Iaclvg ~ ara
neighborhoods a moment after opportunities az
given them to reach out Inc popuIdton Vi p'''N
/ Nm Is growing at the rate OF 10000 year -
/ These figures are not compiled from any ,pdI
,ic,lar statistics but are arrived at from large
J number OF lines OF investigation. namely. an IN,
crease IN the directories. studies from the Boaru OF
/ Vital Statistics opinions OF men VINO nave speCld,,
opportunities determine growth ana an , 5ntuai
/ check on the number OF families MOVING INTO bi"VN-
lyn from New-York. During me last Two m pnn
/ The average number Of families moving INTO bIoVN-
/ lvn has been thrty-four day over thoS" goinI
/ my W. recognIze all these facts We know what
IN hold the proDery until other property he ONES
TOO high to dispose Of TO PEOPLE OF modsrs'" m ans