New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-02
SUCCESS OF LOT SALE.
Quick Disposal of Moss Prop
erty ArOuses Interest.
VIEWS OF AUCTI0NEERS
pelieve Parcels Went at Bar
cain Prices and Buyers Will
Get Quick Profits.

The fact that this is the season Of the
- Of which the demand for vacant
u-o,ertv is usually at low ebb makes es-
.o;al1v significant the lively interest
,.ksn in the Moss estate sale last Tues
aov For 3l5 lots s56S575 was realized.
o,servers Of realty conditions are also
commenting upon the circumstance that
,rithin twelve months. which general opin-
an would rank as remarkable chiefly on
account of their dulness. Joseph P. Day
ua Clarence Davies have handled sue
..ssful sales of Bronx property aggregat-
,ns about 1000 lots with total proceeds Of
ever 100000.
About the middle Of last November they
s;srosed of the Forster-Schmitt property.
.lo,e Broadway. opposite Van Cortlandt
pax 468 lots. for something round $4,000.
poc,ring on Memorial Day and con-
,,.,,;n, for two solid weeks came the
Norris Park sale-in round figures 800
&c for e SOD OlO-and now the Moss estate
so,e with the result above noted.
sneculators and small investors were
at slow TO recognize the strategic posi-
non Of the Moss property and the GER
,.i,tv Of future increase in values In the
,o;gbborhood. In this particular as the
al. itself developed, they had the in
so,serer+ of number of shrewd oper-
s,ors and builders. including no less e%-
-. ;udee Of values and conditions than
,ho recopnized dean Of the real estate
rrofession. ]. Romano Brown.
,,otbar important development pointing
&. tho same direction-a deVelopmeht
r,rA,v encountered in sales OF vacant
,ronertv under the hammer-was mat ''e
,ots1 amount realized for the $40 lots was
.,,oooo hollow the valuation placed upon
Them by tax assessors. Those iaihllIdI
with real estate reports Of the last -FOUR OF
Eve wears know that there is nothing eN-
,rsor5irarv about the sale of a property
g. rass than the tax book valuation. Such
instances have usually come to hght' now
.ver in connection with sales OF lhul-
yidual properties in neighborhoods Where
values are receding. When $40 lots eN-
ending over an area Of several blocks, are
soid for between 10 and 20 per cent less
than the assessed valuations the dlscrep-
oncv NAV fairly be attributed TO the low
ross nj the selling prices rather than 10
excessive assessment.
7 Clarence Davies and Joseph +. Day IN
a statement yesterday, said:
I'VE naturally have felt good deal OF
abstraction over the outcome or thls sdie'
ca far as we know, this was the first time
that any large offering of real estate mas
teen attempted in the week before eiec-
,,,, but the result has sustained our
Judgment that the time Of sale IS the
lsast important element in its outcome,
,-ovided the property itself is 'rlght anu
,ts n,,hlic is fully and truthfully informed
concerning II.
we feel that the property went al OAR
gain figures and that every statement aS
N i,s probable future value will De Amply
fp,sred. The completion Of the jerome
,vsnpa extension within two or even three
vesrs will make these lots just as ac-
cessible as the upper end of washington
ue,gbts on the already populous Hunt
Point district in The Bronx. Ihere Is ap
rsrentlv nothing 10 stop their rapid oe-
velonnent. and TO any one familiar wiz.
this neighborhood and the character VI
,,,nrovernent for which il is suited IL Inu Iet
he obvious that the average price OF $l'cfo
, ,ot sffords a margin for large ana carry
profts'