New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-02
BIG BROADWAY SALE
Much Interest Being Shown Over
Van Cort|andt Property.
COMPRISES 719 BRONX LOTS
Many Flattering Offers Already
Received for Land in Fine
Section of City.

Since the announcement was made that
the Van Cortlandt family will sell the
7I9 lots ii owns on Broadway and ada
cent streets just south Of Van Cortlandt
Park the managers of the sale have re-
ceived offers from number OF real estate
operators and private concerns to buy
considerabl portions OF the property at
private sale. The prices offered were en-
tirely satisfactory to the managers OF the
sale. but they were unable to accept thefn'
since the Supreme Court has ordered the
land to be sold by auction next SATURDAY
to the highest bidder. and In compliance
with this order Joseph Z. Day VIII sell IL
on the premises.
Among the offers received was one from
q we'll known Manhattan real estate oper-
ator. who made bid FOR the entire
Broadway frontage Of about t"eh'! IN
lots. living both north and south vi ."'
nresent 23Sth street subway statioh' ro'
tho last few years he has been buying up
q, good prices everything to be had along
proadvav at this point. Another bidder
oo tho West Side Tennis Club. Whlch
occupies. under lease, two DioChs VI
nronerty with it's fine tennis courts inv
=, tho arguments OF those who made OF
fore for the property was that as grea'
prices could not he obtained III .ne
ont auction market as those o'ieieu
,rivate sale, and even though tney hiisn'
have believed this the managers hanu'
were tied.
come men skilled in real estate market
MATTERS even advised the managers
AGAINST holding the sale at thls uhie'
,oor,rg that the land will not bring satis-
.oo,or,, nrices. but the Van Cortlandus
uort IN sell the property. and the courts
have ordered its sale without resa'u ~
rr,ce or BUYERS, and so it is to be soid ao-
solutely.
r clarence Davies. who represents the
-. co.,,a,d, estate in real estate mat
ters said Yesterday that he hopeo 'n'
colo would be successful from the stahu-
noInt OF the people but that even .houe"
a.. ,rlces we're not UP 10 expectations
49, nronsrtv would be sold without pro-
lection.
III buyers Mt the sale get bargains. &c
said that will be so much 10 INC"
credit but really II the prices are 10 VIC
based on the probable value or 'he p'o'
or,y ton wears from now We Will se'
o,.ary,b,rp We hope for because there 10
not a niece of property in The Bronx tha'
can he bought at the values we nope 10
,aalize where the outlook TOT reai a"'
suhstantial profit Is nearly as prothis'hs'
or sbau not bid at this sale for sihsie
10, has, ~ I were not interested IN IL
ND take what money | could raise ana
ia huv AZ the sale all could get THIS
absolutely Is the last chance for people 10
get property on or adjacent u
AT the figures they VIII MAKE io' '"'"'
selves at auction. and II the success Vi
eec,ions lower down on Broadway are 'e-
roa,e1 here-and | certainly believe they
w,Il be-,he buyers at this sale VIII nave
nothing to regret
Mr. Davies. By the way, IL the man VINO
adyised customer not many years ago
TO buy the then vacant plot at Westches-
ter. Third and Bergen avenues, In Inc
Bronx. IL could have been had then for
5000 This man did not see the value, so
Mr.. Davies and an associate bought the
plot themselves. The land alone is worth
on IL rents for $4,000 a year net.
While discussing the Van Cortlandt prop
erty yesterday MIR. Davies said:
Washington Heights has been built Up
solidly To lSth street since the subway was
opened in 1893 This Is one line OF rapid
transl. TO Washington Heights. III. Van
Cortlandt property has practically three
rapid t-ansits-the present subway. the
New York & Northern and the New York
Central-to saw nothing OF number OF
trolley lines. The new Lexington subway,
NJ Jerome avenue. through this section also
will have n station at the easterly end or
the property.
In my frank opinion. that section be-
tween the 225th street canal and 2iOth
street-Van Cortlandt Park-will be built
up thickly years before the section between
10th and 225th streets or Dyckman Mead
ows will be Quilt upon. Every indication
points this way Max Marks, probably the
shrewdest operator in this city. IL heavy
owner I'm this section: also q number OF
other shrewd operators, Daniel Il. Freed
man, Guggenhelmer and many others, have
invested In this section, knowing and STE
ing what a quick and wonderful future II
has owing to it's present facilities and linn
tied amount OF territory between Spuyt"n
BuyvIl Creek and Van Cortandt Park. All
the traffic north IS diverted directly To this
section and up through the Van Cortlandt
property
This Is really the last piece Of property
on the east side OF Broadway and the CEN
tire part OF the city which II Is possible 10
purchase. as Van Cortlandt PARK starts
here and runs from two miles and half
TO three miles to the Yonkers line
glance at the map will show what a
small amount OF property there 10 TO be
developed between Spuyten Duyvn Greek