The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-14
HIRE THEATRE TO SELL lots
brooklyn Academy OF Mu.,c o..
Used for Auction sale OF Flee,
Property.

FOR the auction sale of the Fleet .s,.,.
property on the new Fourth avenue .,,,
way now being built through Raw Rld,..
the Brooklyn Academy of Muslc 49,.
been rented for next Tuesday nigh, :.
Is the first time that a real estate o,,,,,,.
mas invaded the Academy, which t.
Brooklyns largest and finest plnvbn,,..
inc Jere Johnson. Jr., Company viii b,,,.
me stage To itself At 80 o'rlocL
VIII ask Tor bids on the first of m. %,
lots I'm the Fleet estate propcrtv uht,,,
extends along the north side of Sl>r.'
eighth street from near Third ayc,,,o
across the Fourth avenue subway and Tho
Firth avenue trolley lines TO sixth ,,.a,
nue.. a distance Of three blocks m.
property Includes also the ssveptee, Io.,
ana corners on the north side OF Eifti
avenue between Sixty-eighth stree, ANA
BaE kidge aNcnu" and along Bav ptd,g
avenue west 20 sixth avenue.
Ncdl estate men ~ Bay Ridge say ,b.,
lots there will never be cheaper than ,ho,.
a'' to-day he subway. a sub-surfaco
t,"hs't fou'"' Is now being built through
Fourth avenue. \ year and a hair Iii,
see this line completed and trains 4, on'
,rAtlor. Values then II not before. ,hsy
h'irNH VIII ncrease M they did throuyh
Harlem and The Washington HelRh,s co.
lions 81 Manhattan following the onera.
tion Of tho present subway The closai,
settled portions of Harlem and The Brony
are the result Of the subway. Until II,
operation those sections had Ii,tic ,,,rs,.
Though Bay Ridge has no subway N.
transit to-day Is equal 10 that Of Harlem
or Irons AT the present time. Asa cor.
sequence Bay Ridge Is developing NOR.
rapidly than any other section Of Broo,,
'yn. SIX years have turned 1, from /,
nearby suburb 20 an important home ana
business district
starting at the municipal ferry and m,
municipal market now building at Thirty
nltth street. the entire waterfront ana
streets mp to First avenue are hons,.
combcd with Industrial plants. The Hush
Iriuinal. where are employed many thou
sihdS Is IN that colony. Third avenue
ana Firth avenue. which run through the
Fleet property. are the leading buRi,es,
streets OF that section OF Brooklyn Third
avenue Is the older of the two and until
IN" years ago had o reputation all 80
own Now Fifth avenue Is the leading
business street OF South BROOKLYN and
BAY Ridge. Between Fiftleth and aix-
'ieth streets on Fifth avenue will n.
found hundreds or small and large stores
There Is one department store on me
avenue which has the backing OF n leading
Fulton stree. store. The business OF no
section has advanced so that LAWYERS and
uoNHNbWu btftkS ana trust COmpa
have opened branches on Fifth avenue
The Peoples Trust Company Is one. n
answer to the demand for Office space
many fats on Fifth avenue through me
Fiftes have been made over Into Office
space.
Five blocks below the Fleet property
stores are renting for 800 and $50 a
month and facing the property are apart
mcnts which bring in $3.50 a room per
month. For the window display and ll,u.
limitations 100000 II said 10 be paid on.
by Fifth avenue storekeepcrs In q year
The Flee. lots have been owned by the
family FOR seventy-nine years They are
all that remain of large farm bought
IN 1895. The heirs OF the original own.
ers have decided to partition the Bay
Ridge holdings OF the family and have
ordered Jere Johnson, Jro Company. N
sell them for what they will bring The
lots viii be sold singly with liberal priv
ileges and purchasers will be required n
pay only 10 PER cent of the purchase
price at the time OF sale. Arrangements
hays been made to take back mort On ges
with releases clauses. II buyers so desire,
for - per cent Of the purchase price for
az long as three years.