New-York tribune., 1909-04-19
Rig SALE TOMORROW
DrOTS on THE HEIGHTS.
property an q Section Wbere Many
Builders 1re 4ctirc.

80. s-.--ess Of the Fort Washington Syndicate's
=, sale OF 239 lets on Washington Heights, to
. I'D tomorrow 10y Joseph P. Day at the Real
80 Exchange salesrooms, Nos Il and 16 Vesey
r. EQUALS the interest which is being shown in
ste not only by professional real estate men,
y = .te most conservative investors we'll il
-1 ~ ore Of the really notable auction sales in
e,t realty annals.
1+e- :be Fort Washington Syndicate should sell
a matter in itself Of no little importance. In
- case the usual order Of things is just re-
'sed and instead Of going further into real es-
= o,e,ations as such successful syndicates usual
- A this company win withdraw.
=. x likely that no other large realty organiza-
=. mas ever controlled by circumstances similar
- .bose which are forcing this sale. The Fort
.z-..h,rg-on Syndicate was organized five years
" ore OF the articles Of its formation being that
a, rAouId cease to exist after three years. Wash
,,rton Heights then almost suburban The
.-ndicate made every improvement-cut through
--eets graded, paved, curbed tagged and severed
--sr7. uaid for most Of these improvements, and
-,sde g section of the highest class.
Growing population caused a demand for build
-. -Jots: much Of the land was sold and improved
'5ea came the panic. and the worst Of the de-
--esson found the three years Of the syndicate's
life about 20 expire
IN the syndicate at its formation were Thomas
Alexander Adolph NJ Bendheim. J. Romaine
brown J. ". Castles. Andrew j Connicl. Heinrich
conr!ed Ernest Ehrnlann Martin d Fink. the
Fleiscnrnan Realty Company, Joseph Fox Murry
1,urrerheirn. Joseph Hamershlag, the Henry Nor
ss-tbau Company. Henry S. Hermann. Samuel
reyuann Morris J. Hirsh. Jacob Hirsh. the HUd-
sor Realty Company, Samuel z. Jacobs. Albert
Keskel. Emil 5. Levi Louis Levi, Henlein Levi.
Max Marx. Lewis S. Marx. Peter Mcdonnell, Julius
G Miller. Naxinilian Morgenthau, q. L. Morgen-
than. David Price. Maurice Rapp. d. Il. Rowland.
William r Rose, J. c Rodgers. William l. Rosen-
teld Henry Sdenberg, Richard Sidenberg. Robert
snyth Som Brothers. 1 N. Stettenheim. James
sillnan Charles s. Sykes, James y Stout Charles
s Tvnterrleyer. Samuel We'll and Nathan Wise
These men were called together and agreed 10
extension Of two years, al the end Of which time
the business WAS to be closed. Following the panic
cane another good demand for apartment sites
which continues to-day. Much Of the property
could be sold at private sale, but there is not
su1fcent time TO market all OF it before the two
years extension ends
For this reason alone the property will be sold
auction tomorrow. In this syndicate there is only
one person who owns more than ~ per cent. All
The other members per cent less, the
average being about per cent
To sell property in building plots IS another new
feature Of this sale This is done 10 insure the
future high character Of the neighborhood and TO
make il possible for builders and operators to
collect plots without having 10 pay excessive prices
for necessary lots This section of Washington
Heights is being developed with the best class of
apartment houses and such restrictions are placed
On this land that nothing less than six story ee-
retor structures can be erected.
The sellers have arranged d liberal plan Of sale
OF the purchase price they Will permit to remain
on mortgage for one. two or three years 50 per
cent at - per cent 20 per cent at per cent and
g ger cent al 5i2 per cent.
F. BRYAN / Kennedy will sell on Wednesday No.
g West End avenue, fire four story limestone
dwelling house. No. l32 West 18th street, a five
story double apartment house in neighborhood
N uhob there is now A great deal Of demand for
property.
On April . Mr.. Kennedy will offer an attractive
Parcel. Nos. and East 9th street, plot 37-ex
LIS feet on which are two five story hathOuses;
No rs Madison avenue 63d street,
four story brownstone dwelling house; also Nos
I2 and l3i West 50th street, on plot 50x0-4 feet,
with two four story brick tenement houses and two
s-ory brick stables Of lot.
The auction budget tor the week viii be as fol-
lczs: