New-York tribune., 1913-05-18
Bryan l.. Kennedy Says Dis
posaI of Lots on May "a
Will Be Long Remem.
bered in Local Real
Estate History.

Bryan l.. Kennedy said Yesterday that
he believes the sale OF four hundred and
fifty fully improved lots on Thompson iill
in Long Islana City. which he Will hold
next Saturday. will go down I'm real estate
history a. the most notable occasion ever
given 10 investors 10 make money out oi
Ncw York city property.
q believe" Nj. Kennedy continued
"that the sales held more than ten
wears ago for Charles T. Barney ~
property on Washington Heights. was
tho best opportunity offered up 10 this
time. not only advised people 10 buy az
this sale urged them Those Who
bought at that sale paid about N.o00 for
inside lots which arc now selling al ih"
lowest for So 90. and they paid S5.loo for
corners winch to-day arc cheap az $4,000.
MANY millions ~ dollars worth of real
estate have been sold by uf father and
mvseif since tine establishment of tho
business in lSG. but never before have /
urged my friends and clients 20 buy as
strongly a. 7 ann doing now. feeling fully
confident that tho profits made on Wash
iugtou Heights VIII he exceeded on
THOMPSON Uiu in Long Island CITY
Mr. Kcnncllv pointed ont that when the
Barney sale were held tho present sub
way was only under discussion. The route
had been mapped but thc city had taken
no definite action on it. At that time too.
Washington Heights Was practically a
vacant hll north from 18TH street. WIN
no incentive Go grow uutl the subway
should h,. built Thompson avenue. az tho
property To- hc sold. on thc other hand.
win have a station of tho dual subway
system ON the corner az Bliss street
which viii link an horoughs Of tho city
and Will make the property accessible
fgom any point of greater NcW YORK Tor
single J-cent fare. Construction OF this
branch Of the dual rapid transit system
Was begun last week. and since the roads
through Long Island city will be elevated
thcv arc To be finished iu fourteen month
or two wears before tho new sup"dys, so
that Long Island city Will enjoy q
growth due 10 transit improvement Two
years in advance OF any other borough
These elevated subway extensions in
queens are for the joint use of the Inter
borough and Brooklyn Rapid Transit
With trains Of both companies running 10
tho Thompson Hul station that property
will be- ono Of the few outside of the huei-
moss section OF Manhattan Island which
will enjoy tho double service.
AN this" said Mr.. Kennedy. means
that tho FIRST and greatest increase IN
values rs coming 10 Long Island city
Just think Of this. The Thompson Hill
property is parallel TO and only TWO miles
away from the most valuable real estate
iu America: Fifth avenue from i2d street
10 seth street The new subway VIII
bring Thompson Hiil and Fifth avenue
within eight minutes ride one of the other
Values IN the commercial and manufact-
urins sections Of Long Island city have
been established through the demand for
land FOR manufacturing sites for Fifth
avenue and Broadway firms ono nun
dred thousand more employees arc TO be-
taken on I'm the new factories 10 be com
Melted during the next FIVE years. That
means almost half million people look
ing for homes in Long Island city during
an equal period. Millions Of dollars arc 10
be spent In apartment house construction
IN Long Island city. and just as soon as