The sun., 1913-11-02

! friends told him he was doing an un-
wise thing when he leased the land 'h"r"
! and erected the structure. There prob
ably is no better paying hu!din-; i"
! t.. sect .on to- day and the builder real
; .@ed Il good profit on ii. Many others
: noting BacRer's success. have followed
hi> lead
I Right now NJ. tiarher i engaged
. in rebuilding fiity-tiith street from
! E'if,h avenue to Broadway, That for
! merry was a street of stables which
: had little attraction for builders Ne
louiird on il however, as "A Favorable
spot. He figured thai the stables would
! have 70 60 pretty soon and that IA
: their places would be high class moderr
buildings. The stables wcr" not of much
+, value and so property could he pur-
chased at reasonable figures. lie was Of
the opinion also that Fifty-iifth stree.
was IA good place for small apartments
such as men would like who lived out =
, side the city for most of the year. So
, he made up his buildings OF three, ~ =
. and five room apartments and made
the buildings comparatively small, =,
| that they would he Slab.c to investors
with limited means. How great his
!
| the fact that he has sold four such
structures, is completing another and
has just purchased a site for still an
| other. In one of the houses he sold
six bankers make their homes. In
most % his operations Mr.. Backcr has
for partners the law firm of .Arnstcin
4 Levy.
Another immigrant boy who has come
IN hn in, l. 1,,N
world is Joseph Brody OF the Arm OF
Brody. Adler & Koch. He came from
Russia at the age o: l6 with a fair edu.
cation and sufficient knowledge Of Eng
lish to be able to write It. but not to
speak it. BY application and hard worl,
F., he quickly mastered the tongue and
then entered New York University.
from which he received the degree OF
civil engineer. Mr.. Brody is the proud
possessor Of n Phi Beta Kappa key.
AS an engineer he acted frequently
for property owners and builders and in
that way obtained an insight into the
building business. About eleven years
ago he joined forces with his present
partners and erected the nine story
commercial building at the southeast
corner Of Wooster and Houston streets
Before undertaking that operation Mr.
I'rody saw that the money obtained on
loan was deposited in the bank where
II would he available when wanted and
| that has been his procedure ever since
lie also makes a practice before under
taking an operation to go most care
fully and deeply into every item OF in-
come and expense so that before his
building Is completed he may know to a
dollar what It will cost and what the
return will he. In the eleven years he
has been building and in The more than
Twenty structures he has erected he has
never lost a dollar nor has he had TO
worry over the outcome of an operation,
He builds on the theory that II a buyer
does not appear at once for his property
his income from rents will he large
enough to satisfy him. His buildings
seem to sell, however. about as fast as
he can build them.
Mr. BrOdy takes greatest pride In the
Pennsy Building on Thirty second
street and In the I.asLnno Court apart
ment on Seventy ninth street. He is Just
completing a fine Office building on
Beaver and New streets which he
thinks will be finer than anything he
has done.
Many OF the residents OF the section
about Riverside Ddive and l16th street
can thank DR.. Charles v. Palermo for
the fne apartments they occupy. Hr
was the pioneer In that section and
through his operations there has come