The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-20
GOOD TIMES FOR REAL ESTATE.
". A. Cohen Expects Immigration TO
Revive Local Market.

stating his belief that New York city
VIII have an increased population OF
ooo'ooo during the next two years from
immigration Elias A. Cohen, a we'll known
real estate operator. declared yesterday
that the outlook for local real estate ia
most encouraging and urged brokers TO
prepare for a great revival
From letters beginning TO coma In
from relatives and friends in the varI.
Gus countries In Europe" Mr.. Cohen said.
III Is becoming moro and more evident
every day that there will be a tremen-
dous immigration to this country. and ma
tcularly to this city. within elk months.
whether the war ends or not I'm tho mean.
time.
The old tenement houses will n,
course. be the first TO feel the effect OF
this immigration. and as Il looks n. ~
mere VIII be at least 100000 Gerrnans
100000 Jewish residents OF Poland and
Russia, now the theatre OF war. where
100000 OF them live. East Prussia.
where there are at least n million ond
other portions Of the surroundinp COM
try as well as immigration from Belgium
France and England we can look for an
ADDITION OF 100000 people TO the New
YORK population within the next two
years
Building in this city is almost at n
standstill. due TO the money conditions.
and the new az we'll as older houses arc
now nearly all full What this will mean
to the East side OF the city, from the
Battery all the way up To- Harlem, what
u VIII mean TO Brooklyn and what Il will
mean TO the older loft districts which nre
within walking distance OF the tenements
and cheap immigrant labor, can easily he
foreseen by any one who has gone through
these transition periods before.
III mortgages and owners generally
will Just realize what effect this will have
on this city they will believe, as I do
that never IN the history of the world
was there better security for the In
vestment or money than IN New York
city real estate, especially at present dav
prices. when many people are. under the
stress OF necessity. being compelled 10
sell at the buyers price.
Stocks and bonds may look good at
present prices. but they are IN the CON
troll OF other people who can do as they
please with the investors money. and the
sense of honor which was presumed TO be
foregone conclusion when speaking OF
the directorate Of large enterprises seems
to be sadly lacking in the present day.
"a real estate owner IL his own board
of directors, his own executive committee.
and makes his own market. II he chooses
This is the time. II seems to me. TO be-
~ W hiohst Duull' W "a hilbN i'NEe
OF the wonderful investment possibilities
now presented by real estate here.
The administration, under the able
lead OF Mayor Mitchell, has been con-
serving the interests of owners and tax
payers and this Is the beginning Of the
dawn after seven yeSrs OF depression
The chaos into which the business had
fallen will now begin To d sappenr. ~ We
read history Alright at ali. \ new genera
ton OF buyers will now begin 10 form
and IL behooves the brokers to pluck up
courage and begin TO get their lists ready
The first ones In the field VIII reap a
harvest. and white at tho present time II
would seem as II there Is no life 10 the
market and no energy In any buying
movement n realization OF how well the
market was beginning to come M I'm May
and June of this year coupled with the
fact that investment moneys keep on roll
ing In automatically to many individuals
and estates. and that some disposition
must be made OF il sooner or later, the
brokers will. II they are wise. use this
opportunity to give their friends a chance
to get In on the ground floor