New-York tribune., 1919-10-12
an fl HYEWUE

that there IS no man in the market
who is as active as Mr. Brown. and
that last year his operations totalled
more than $20,000,000, the story told
by the man in the street does not seem
oversensational. Mr.. Brown has made
profit OH nearly every parcel he has
sold Some of his profits were small,
while others were large.
On last Wednesday announcement
was made that the Hague Dwellings,
at 547 Riverside Drive, had been
bought by a syndicate headed by Nor
ris NJ. FIGHTER. Back in June this prop
erty was bought by Mandelbaum &
Levine from the Sussex Holding Com
pany for $4,000. 1t was a good price,
in the opinion OF the selling interest.
At the time, it was, but q few days
can make a biz difference in the value
of an apartment house. Within week
the operators had resold their contract
for $40 to the Jules Realty Com
pany, which sold it last week, also at
profit.
Big money has been made in the
downtown business field. A great deal
more could have been made if owners
were willing to sell, but, having
bought for occupancy, a permanent
business location had unmeasurabe
value to them, especially with space
conditions such as they are south of
Fulton Street. If Norton, Lilly & Co.
would be willing to sell the Stock Quo
tation Building, at &c and % Beaver
Street, which they bought last spring,
they could make about $125,000 The
steamship agents bought the property
to get larger premises and be assured
of home in the big business district
Of the world They paid S575,OO0 for
the property. The story is that they
have refused to sell the building for
100000.
The Curtis Building, at 33 to 81
Beaver Street, owned for many years
by the Adams Express Company, has
brought the nice little profit of 100000
to Harry Aaronson, who bought it from
the Adams company. The present owner
of the property has been offered g
profit of $4,000, to which he has said
"You Will have to do better than that"
In other words. he has refused $780,
600 for the building which last spring
was sold by the Adams Company for
-
Price Mere Than Doubled
Elias Cohen was asking $4,000 for
the Merchants building at . and
stone Street. extending through the
block TO 10 and p Bridge Street
SZlO,OV0 for the property about
year AGO. 1t is seven-story building.
81 feet on Stone Street and 60 feet on
brdge Street. Mr.. Cohen could have
sold the building for $3.50 GOO. if he was
satisfied with profit OF $4,000.
Rel bert <. Bowling has cleaned up
Sls0.00o on two properties in five or
six months Toward the close of last
year he entered into a deal with the
Mortimer estate for the purchase OF
lhe Mortimer building at the corner
ot wall and New Streets and the five
story building at 81 and 66 Mas au
street, between Maiden Lane and John
street. He paid 100000 for the two
properties but rcsoid them for Sl.0S0-
COO lie sold the Wall and New Streets
corner to the New York stock Ex-
change for $3.50 600 and the Nassau
StySet property for $3.50 900.
The Eagle Building. at II Wall
street, was bought by the American
Cotton 4 Grain Exchange for SSoo,ooo
from the Equitable Life Assurance So
clety. profit of $1,000 has been
ofiered for the building since then
Richard 5. Elliott bought the building
at % Pearl Street extending along
coenties Alley to 40 Stone Street.
from the Goelet Estate for 100000 and
shortly afterward resold il at a price
said to be $4,000.
Fronts are not particular 10 thus
borough. but every borough and nearly
every section of every borough can re-
pcrs big advances in property values.
m several of the big lot auction sales
neid slnce last spring q number of lots
nave been resold at profits which is rs
good an indication of the tone and
strength of the buying market as could
be desired
Perhaps the big money that is being
taken out of real estate would be heard
OF more than it is but for several very
good reasons. One is that those who
are getting it do not want competition
and so are saying little.