The evening world., 1913-06-07
By Joseph P. Day and
J. Clarence D0uies.

which has been in progress for a solid
week. has started new lines Of thouGht
among those interested In the city's
home building ana development. I, also
MARKS the evolution Of new IDEAS a.
70 real estate selling.
Norris Park promises to afford within
the next two or three years one Of the
most remarkable examples OF city
growth. The result Of this weeks sale
has been to subdivide the great property.
which has lain for years a barrier to
the expansion Of the Bronx. among
hundreds Of different owners. Many Of
them are already considering the I'm.
provement OF their purchases. and long
before the subway extensions shall have
been completed the old race track will
be dotted with homes.
This will demonstrate that when the
property Is Of the sort for which there
Is real demand. and which can be
offered upon prope. terms, the people
themselves will become the most astute
promoters OF the city's expansion. II
wiIl demonstrate. also. that to get the
people out OF the congssted districts
there are needed no special inducements
and no changes In the system OF taxa.
ton-nothing but the chance to buy
well located property At the prices made
by themselves.
LOT DISTRIBUTION MEANS
BUILDING OF A NEW CITY.
We confidently expect that this Morris
Park sale will lead to the creation Of
Q new city on this tract Of 800 acroa
within Q few years
In point Of magnitude the sale so fas
surpassss anything heretofore attempt.
cd that any comparison 10 Of course I'm
possible.
In this rsspsot the marketing Of thil
Immense property only shows thu
volume Of the demand for real sstat,
among the general public whom the,
have the assurance that they are to b.
The sole judges ~ to values and whsr
faith with them In this respect u
strictly kept.
The public was told that every lot In
Norris Park would no sold for whatever
they chose to pay for Il. There has
been no deviation from that announce
ment. The results have shown that the
public believed this and that their con-
fdence has not been misplaced.
SUCCESS OF SALE WILL LEAD
TO OTHER BIG MOVES o.
EXPANSION.
Viewed from another angle II 10 i'm
possible to Oversstlmate the wide In.
huence OF this sale. Now that Morris
Park has shown the possibilities oil
marketing real estate. II Ia anticipated
that there will come the subdivision on
a similar plan OF other large properties
thus Fastening the city's expansion II
many directions.
The. public was told that this sale was
going TO be an opportunity to MAKE
money and such It has turned out to be
n the prices asked for similar propert,
lust outside the boundaries Of Morrii
Park may be used as . basis Of 1udg
ment, Of 4 one compares the prices pI:
this week with those paid In the past TO-
lots In this same property. The success
full bids In many instances were from
thirty to forty per cent below the ad
vance estimate OF the Banking De:";t
msnt but for this they were prepared
and have the satisfaction Of knowing
thu. a eman army Of homeseekers ant
Investors have had the benefit OF thes
low prices and that o mighty lmpetu
has been gdven'to tho growth OF nsv
section Of the city.
THE sale has also furnished anothe
striking illustration OF the almost m
t!on-wide market for desirable New
York realty. Its ultimate effect Will
10 extend further and Strengthen TIL
market. Buyers have eome from Boa
ton and from Norfolk and from ~ IA
West as Chicago. We confidently b
iieve that a large and certain prof
awaits every one Of these buyers
Morris Park. and the experience Of thSs
buyers will be the means OF brinyln
greatly increased support to the Me-
York real estate market.