Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1912-07-27
BRILLIANT CAREER
OF REALTY BROKER
Abe Fest Has Built Up Won
derful Business in Ten
Years.

career as a real estate operator. Nc
flourish of trumpets attended his adj
vent. He modestly hung out his
shingle'' at s2S Broad street and pro-
ceeded to the work in hand of Great
ing for himself a solid business foun-
dalton in the city of Newark.
Matters developed satisfactorily,
with the result that two years later
the firm of Feist & Feist was found
ed. About the same time, having
been appointed agents for the Scheuer
building. at 1888 Broad street the
Offices of the concern were moved to
the fourth foor of the new building,
where they still remain. On January
l. 1911. through a final arrangement
of partnership interests, Mr.. Feist be-
came sole owner of the business es-
tablished under the name of Feist &
Feist.
While it is true that the firm from
the start had specialized in factory
properties. and had earned the title
of Original factory specialists, its
members had other ambitions also.
This was amply illustrated when
about five years ago the first public
announcement was made regarding
Rose Villa. In point of size, proba-
bly,, no f1rst-class restricted residen-
tial development within the city linn
its is its equal. A fair idea of its
magnitude may be gained from the
fact that the Rose Villa development
extends along Roseville venue FOR a
distance of 1,600 feet. nearly one-
third of a mile. A fortune has been
already spent in improvements, which
Include every modern and desirable
feature of city life.
But in other ways still the prac-
tical results of push, progress and
sagacity are in evidence. An office
and selling force In absolute lar
mony with the ideas of its head has
been no mean factor in Mr.. Feist's
success. He inspires confidence in
those associated with him, n they
Ia turn render him service in kind.
The different departments of the
business, every one of which is on
a fiourishing basis. are handled by
Mr.. Feist's assistants with the same
attention to detail as though he him
self were in charge of a particular
department, instead of exercising, as
he does, a general supervision.
During Mr.. Feist's career as a real
estate man he has been concerned in
many of the most important
that have marked Newark's indus
trial progress. The bare mention of
a few of these will be sufficient to
make this clear.
The New Jersey Machine Company,
an auxiliary of the American Tobacco
Company, owned a four-story and
basement brick factory property on
Pacific street, with extensions to Nal
vern street, and vacant lands running
through to Chestnut street, compris-
ing in all nearly an entire city block.
Negotiations by Mr.. Feist eventuated
in the sale of this whole property to
the May Manton Pattern Company of
New York city. This latter concern
now employs 400 hands at the plant.
A sale made for the Waverly Park
Improvement Association, of which
former Judge Gottfried c.. KruegeS is
president, is also notable. This COM
prised a stretch of land running $50
feet along Frelinghuysen avenue at
q point south of Weston avenue. with
a depth of 500 feet to the Pennsyl-
vania railroad tracks. which was
bought by the Oxwell Manufacturing
Company. of Chicago. A three-story
reinforced concrete building, 100x400
feet in ground area, has just been
completed on the property, where the
manufacture of acetylene gas ma
chimes will be at nee begun. About
800 hands will be employed.
More recently another important
sale was effected for the Waverly
Park Improvement Association. This
was a plot in Frelinghuysen avenue
opposite Whittier place. with a 'front.'
age of 225 feet and a depth of $50 feet.
A lease also figured in this trans
action, by which the Behr Brothers
Company. a New York city piano
manufacturing concern. agreed to pay
an aggregate of 5000, 900 for a twenty
year lease of the building to be
erected. Four hundred skilled me-
chanics will be required by the COM
pany. The Gillette Safety Razor
Company transaction will be recalled
dS one III WHICH MI. EtlSl dCltu as
broker when the concern bought
twenty acres in Frelinghuysen ave-
nue. south of Evergreen avenue, on
which later it erected a pretentious
factory building.
Particularly interesting at this time
is the Emanuel Heyman lease of the
property at 661-663 Broad street, now
occupied by the Woolworth five and
ten-cent store. In this case Mr.. Feist
was enabled not alone to negotiate
one of the biggest leases on record,
put also to establish a new rental
record for Broad street property. AS
made. the lease runs SO years at a
yearly payment of $780, 900, an aggre-
gate in excess of one million dollars.
Efficiency is the slogan of the firm
of which Abe Feist Is manager. of
each department it is the keynote.
The individual managers each strive
for the same end. The development
of the business may be judged al
most at a glance by comparing the
modest little office of ten years ago,
presided over by Mr.. Feist himself,
and one stenographer assistant, and
the commodious and handsome suite
of Offices in the Scheuer Building,
where no fewer than twenty persons
are required TO look after. the vari-
Gus branches Of the business.