New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-14
Fleet Estate Parcels Will
Be Sold on Tuesday
= Night.
PROPERTY ALONG THE
NEW 4TH AV. SUBWAY
Old Holdings Will Be Offered a
Auction at the Academy
of Music.

For the auction sale Of the Fleet estate
property on the new Fourth av. subway
now being built through Bay Ridge, thsI
Brooklyn Academy of Music has beenI
rented for next Tuesday night. II Is theI
first time that real estate auction saisI
has invaded the academy which is Brook
lyn's largest and finest playhouse. JersI
Johnson, jr.. Company will have the stags|
to themselves. At 7:s0 o'clock they will
ask for bids on the first of the 2sl lots in|
the Fleet estate property which extends
along the north side OF 6Sth St, from near
Third av., across the Fourth av. subway
and the Fifth av. trolley lines to SIXTH
av., distance OF three blocks. The prop
erty includes also the seventeen lots an
corners on the north side Of Fifth az
between 6sth st. and Bay Ridge av. aas
along Bay Ridge av. west to Sixth az
Real estate men in Bay Ridge say thar
lots there will never be cheaper than they
are to-day. The subway. not an elevated
extension, UuA Tie Itdi dlAiNANf - ~" -
ing built through Fourth av. year and
a half will see this route completed ana
trains in operation. Values then II no'
before, they believe, will increase as they
did through Harlem and the washington
Heights sections Of Manhattan. folo"hs
the operation OF the present subway Inc
closely settled portions of Harlem ana
II flta ,
Until then these sections had little tsan'
sit. Though Bay Ridge has no subway is
transit to-day is better than was tnat OF
Harlem or The Bronx before the presehs
subway was built. AS consequence pay
Ridge is developing more rapidly than any
other section OF Brooklyn. Six years
have turned that section from a nearoy
suburb TO an important home ana DUST
ness section OF the city.
Starting at the municipal ferry ana ul'
municipal market now building al az"
ST. the entire waterfront and streets W ;.
First av. are honeycombed with ihoNsH'"'
plants. The Bush Terminal, "hefe -
employed many thousands. is IN that Gus
ony. Third av. and Fifth av., when ~"
through the Fleet property, are the ieS'
ing business streets of that section -
Brool.lyn. Third av. Is the Oldest oil o'
two and until five years ago had fsp'
tation ali its owa. Now Fifth aV. u "'
leading business street Of South Broohsa
and Bay Ridge. Between 1th anu v''
streets on Fifth ay. will be found
dreds of small and large stores. 1nsls
an the ltenav
which has the backing of leading fu'
ton street store. The business OF tne se'
ton has advanced so that lawyers a'''
downtown banks and trust compasr
have opened branches on Filth aV'
Peoples Trust Company Is one III ~
swer TO the demand for Office space ni~..
fats on Fifth av. through the COS IA
been made over into Office space
Five blocks below the Fleet p'ops'N
stores are renting for 500 ana si~
month, and facing the property are aga
ments which bring In $50 room
month. For the window display ara
lumnations 10000 is said to be pau
by Fifth av. storeksepers In year. -.
/ The Fleet lots have been owned ~
family for seventy-nine years ihey
ALI that remain of 4 large farm oous"
1885. The heirs OF the Original ow W.,
have decided TO partition the bay <
holdings Of the family and nave OH. .s,m
Jers johnson. jr., Company to sell tn's
for what they will bring. The lots WIS ii
Gold singly with liberal privileges III
r.,ychasers viii be required to pay ~
"a nor cent OF the purchase price AZ
time O, sale. Arrang ,:nents have
,maas 20 take back lo.tgages WIN
lease clauses II buyers so desire ,sss
per cent Of the purchase price TOT - a.
as three years. Titles are insured ~ III
T,us guarantee and Trust COMPANY nj
no,,cies will he given 10 purchasers Wv
out expense to them.