The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-01-05
Stage Set for a Great Upward
Movement in Real Estate Field
Review OF Last Years Market Holds Prophecy of I'm
proVement Tor Near Future Income From Real
Property Has Never Been Better

| one or the most sensational sales of
the year. inasmuch as II was held in
august, when our war activities had
reached their peak, was one involving
about 400 vacant lots at Manhattan
| Beach. New York city. The great sue
cess OF this sale was particularly etri-
king in view Of the fact that the daily
Newspapers were filled at the time with
the activities of the German U-boats
on our Atlantic coast OF course, the
oirect connection between these U-boat
activities and ocean front property is
apparent to every one. Another feature
OF this sale was its record breaking
speed. In one afternoons selling the
entire property was disposed of at a
total OF about 100000.
In the same month that the Man
hattan Beach sale was held another Sue
cessful auction sale of a substantial
size was held. which included many hun
dreds or vacant parcels and a number
or houses located at Brightwaters. l.. |
rms sale was considered great
achievement=ln view OF the distance OF
the property from New York city and
the general lack OF buying power for
suburban property. The total sales
amounted to slightly over 100000.
The underlying buying power OF the
real estate market was often shown in the
monthly special sales day offerings. These
sales are very good barometers Of the real
estate market Gnasmuch as they include
about fifteen parcels of diversified types,
and locations, which through a cos.
sharing plan, are extensively advertised
and promoted. In these sales through.
out she year fairly good prices and bid
ding were secured. particularly on small
investment properties and suburban and
city dwellings.
The last large sale In the real estate
auction market Of the year was held on
Tuesday. December II. in the exchange
salesrooms. the property offered belong
ing TO the estate OF Louisa Dash and
consisting OF elghty-five lots and one
residence, located on West 23sth street,
west 242d street and Waldo avenue
While the prices were rather low and
the bidding somewhat dull, II was re-
ported that all the property had been
disposed of for a total Of s54,75O The
explanation OF the result Is probably due
TO the fact that the property being
somewhat in the rough, the pubic did
not realize its real intrinsic value. al
though Il was only 500 feet from Broad
way and the 23Sth street statio Of the
Broadway subway.
believe we are at the door OF one Of
the most prosperous and active real
estate and business periods in the his
tory of this city. l agree entireh with
the opinions of the leaders OF our COM
mercial and financial world. like Judge
Gary and Mr.. Vanderlbp rather than
with some OF our theorists who see "in
the not distant future crisis and panic,
Idle labor. bread lines and riot" The
orists predict dire times with labor and
a general fall In wages. II this hap
pens-but l firmly believe IL will not
real estate values will suffer through the
erect on rentals OF stores and flats and
the ordinary loss OF buying power of
wage earners for small properties. The
soldiers were all employed before they
went away and they are all needed back
again. I heard Of one manufacturer