New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-16

The sale Of 71s lots. comprising the van
CortIsndt nroperty in The Bronx, by Jo-
semi p. Day and J. Clarence Davies Issl
,,aok for 81 449.75O is sufficient evidence
nat conditions affecting the real estate
r,,orlet have largely improved in the lsst
year o-a
The Bronx especially is possessed CT rnoie
roaltv mower than it has had In long
Time This power is OF such WohueIl ~
quality that this beautiful borough rlch !"
mark lands. In long and broad drlVeWdys'
and in every other asset needed Tor the std
bi,itv and enhancement Of values, is rap
;al, annroachine the time when 1t VIII De
.. seductive as in the days Of the subway
boom in 1904
The change for he better in the Bronx
market has been gradual. and that fact to-
ootber with the reason and the extent Of
,ho newer activity there. he's been de-
ecribed al length in these columns WITHIN
the last year. Yet there were many PEI
CONS who could not perceive it-at least
NOT before the Van Cortlandt sale. Maybe
they are still numbered among the douo'-
ing Thomases. If such is the case they
viii probably forever remain unconVlnceo
that the future development Of The Bronx
will excel that Of the past
WHY. even some of these persons who
have a false measurement Of realty afairs
boldly asserted. when asked by Messrs. Day
and Davies, that there was no market FOR
the property A few Of the lots might be
sold at ridiculouslv low prices, they adoeo'
thus casting a blight on values In the sec
ton. and as to the other parcels they would
have TO be withdrawn Davies had no mis-
givines as to the outcome Of the sale. Nor
had Day.
From Davies to Day TO the public proved
to be a most acceptable way TO dispose OF
the property. on many previous occasions
this combination of ability and experience
had satisfied sellers and buyers, and there
is not the slightest doubt that IT will add
new laurels 10 its fame.
The Van Cortlandt sale will always be
ranked among the best of its kind. The
lots sold are some of the choicest in The
Bronx They are in the direct line OF the
northerly expansion. They can be i'm
mediately and proftably improved. Their
superb location and the conditions which
would cause a big increase in their value
at near day were set forth in well writer
advertisements
On each Of the two days OF the sale
there was never a moment when there
were not many eager bidders about the
auction stand Of Mr.. Day. Good prices for
the lots were obtained, the average being
S20l6 a lot. That means that the sellers
were satisfied. Now, what about the buy
ers? Were they in a position TO make
quick profits? Certainly. for some lots were
resold at a big advance on the grounds
and a feature of the midsummer trading
is going 10 be resales Of Van Cortlandt lots
at much higher figures than the auction
prices.
The sum spent in calling the attention Of
the public to the merits of the Van Cort
landt property will help TO broaden the
market for various kinds of property II
this and in every other section of The
Bronx. 1t will also direct attention tc
speculative possibilities and investment op
portunities in Manhattan.
From Davies to Day 10 the public! Thai
is truly one Of the most satisfactory ways
TO market property
There were some important West Side
and midtown transactions last week.
A. Blumenthal sold for the T. ]. Mcclure
Construction Company the Valley View
Court apartment house, No. 1890 10 Z5S
Amsterdam avenue, to the Debenture Cor
poration Of New York The property wa'
held at SIPS 900. In part payment the De
benture Corporation gave 2So lots on Hunt
ington Terrace. Huntington, Lond Island,
calder, Mascot & tanning sold for The
Rockledge Construction Company, Of
l which Vincent J. Slattery is president
i Rockledge Hall, twelve story apartment
Y house. at Riverside Drive and l02d street