The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-27
WAR TIME REALTY y
TRADING YIELDS
SOME GOOD PROFITS

above what he paid for IL He cleaned
up handsomely In the purchase and re-
sale OF the northeast corner OF Sixth
avenue and Ninth street He erected a
one story building on the property, which
he bought from the Hudson and Man
haitian Railway Company. When, Mr..
Elliott resod the corner he received
cash and an equity In a dwelling on the
East Side. The cash alone was sufficient
to give Mr.. Elliott a tidy profit out of the
transaction. Norman Reisenfeld, an at
torney at 100 Broadway. purchased re-
Gently the house at 3lS West Seventy
sixth street for $4,000, thinking that It
was cheap. lie must have been correct.
because he has been offered $4,000 for
the property. Ennis & Snnott are oper-
ators who have been among the few pro-
fessionals active previous to the start
OF the German peace movement a few
months ago. These buyers have ma de
money through resales in many sections
OF the city. 1t was recalled yesterday
by one broker that in one particular
deal they made 1900 without the least
effort. They paid $4,000 for the prop
erty at 10 West Forty-eighth street and
! esold tt for $4,000. The quick profit
from this deal, which was perhaps their
irst in the Fifth avenue district.
strengthened by the conclusions reached
'egarding the future needs of the sec
tion. have led them to venture again in
this locality. and as was reported sew
eral days ago they bought the property
1t IL and 10 West Fifty-first street,
which had been in tho market at $685.
900 for at least two years They paid
less than that for the realty, and from
the tales flying through the mari ct they
can resell their contract at II nice ad-
vance over the price which they paid
william Woodward Of the Hanover Ma
tional Bank for the property.
There is little doubt but number OF
people could have purchased the prop
erty at 1871 East Sixty-fourth street be-
fore II was offered to Frederick j.
Sterner about a month ago. Mr.. Sterner
will not complain that another did not
take this property. a four story dwell
ing. because on Thursday last he sold
II at a profit of $4,000.
Roland Gilman, head OF the firm OF
Douglas l. Gilman e. Co. Nm the absence
of his brother. Douglas l.. Gilman. who
Is now in the navy, said yesterday that
he knew of no time which held greater
promise for the investor OK the specu-
lator TO buy real estate. The east side
residential section contains many prop
critics, Mr.. Gilman said, that can be
purchased for less money than II will
be possible to secure these properties
for In a few months. I'VE know of
twenty properties which are truly war
opportunities" AS see the situation
in the city's best residential district |
should say that man could buy any
where there literally with hrs eyes closed
and be sure that he had made good
investment. Prices are far below mar
ket values. An easier mortgage market
will change conditions materially.
Mr.. Eihman's views were shared by
other broaers in the district. The reduc-
ton OF families through service of men
folks in the army and the navy has
brought lot OF properties on the mar
ket because incomes have been depleted
and money has to be had to support
the members at home. These conditions
have brought choice properties into the
market at prices made for the purpose
of bringing about quick sales Unusual
circumstances have permitted many to
secure fine residential properties in this
East Side district in the last Ave or six
months Offers far In excess OF what
were paid have been refused by the new
owners on the assumption that better
prices are on the way for this as vel
as all other sections OF this city.
James CruiishaNk 10 reported to have
made profits totaliing upward OF
$4,000. Mr.. CTuikshank's opera lions
Indicate the chances which the market
possesses. Mr.. Cruikshank, perhaps eX'
perimenting with a plan OF operation
which he had mapped out, has confined
his trading to small properties, none OF
which required more than a few thou
sands to buy. or a string Of twenty OF
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