The sun., 1919-06-11
BENNETT
BRING A TOTAL
OF S1,7S6,9OO
Sale Marks Beginning of
Greatest Realty Boom,
Experts Believe.
FORT SITE PRESERVED
Historic Landmark Secured by
a Society Which Plans
Memorial Park.

The market has broken wide oman
From now on New York will witness ons
Of the greatest, IL not absolutely tho
greatest. real estate boom it has ever
known, for the public has really begun To
appreciate the tremendous opportunities
that lie. in realty investment at this
time" ~.
Such was the conclusion drawn bv n
real estate operator well known for hi.
sagacity who attended the sale of the
Washington Heights property of the late
James Gordon Bennett, auctioned by
Joseph p. Day in the real estate ex-
change at IA Vesey street Yesterday
There were other prominent men present
who reechoed this prediction, and their
sentiments were justified not alone bv
the remarkable results Of the sale itself
which netted a total OF $1,7S6, 800, or an
average of $500 for each of the 472
lots sold, but by the very atmosphere
which prevailed IN the supercrowded
salesroom. On the whole, the auction
was tn emost successful lot sale held
In many years.
Perhaps the most significant thing
about the buying crowd which TANNED
every inch OF available space and over
flowed into the street was the fact that
II contained many strangers-men and
women who had never been seen in any
real estate mart before. Professional
operators were there, to be sure, but
they did not have a monopoly on the bid
ding by any manner OF means. Women
took an active part In the bidding, and
one OF them-a Miss Theresa Cassazza,
VINO represented Frank b. Cross & Co,
paper box anufacturers-bought in
100000 worth of property.
AT about 12:i5 p. NJ. Auctioneer Day
took the rostrum and gave the signal for
the bombardment Of bids that continued
unremittingly until Z: 40 p. NJ, when the
last lot was sold. Mr.. Day was on his
mettle, but there was not much need OF
coaxing from him, for the buyers
snatched up the lots greedily and paid
prices for them which exceeded the fond
est hopes Of NJ. Days Office and the ex-
eeutors OF the Bennett estate. The high
est PRICE paid for n single lot was
$1,000. That was for the southwest
corner OF Fort Washington avenue and
1850 street. The lowest price was s7Qs
for lot on Overlook terrace.
A spirit of good humor was manifest
IN the crowd. which readily responded to
MI. Days wittlcisms- The first lots
Sold designated as Nos. SIS and Sc, were
bought UP by P. A. Gallagher.
Let 'er go. Gallagher" shouted Mr..
Day as he brought the palm OF his hand
down on the desk to signify that the two
lots had been knocked down to the first
huyer at $4,000 each. In the midst of
the roar OF laughter which greeted the
sally photographer added TO the con-
fusion by letting loose a fashlight. Later
the crowd gave Gallagher three cheers
as he left the room.
To those who have the historical ira
ditions OF the city at heart the most in
terestng feature OF the sale was the pur-
chase by the American Scenic and His
toric Preservation Society of the site of
old Fort Washington. which is now
marked by monument on Fort Wash
!nston avenue just north OF 1S3d street
william Willett OF Is William street as
representative OF the society, bought
thrty-six lots on Fort Washington and
Pmehurst avenues and 1880 street for
price arproNimating $lS6,000.
The members OF the society have long
been interested in the preservation OF
the site of the old revolutionary fort and
in their efforts secured the cooperation of
the Sons of the American Revolution.
Before 1t decided to enter the market
for the lots the society. through its pres
ident. George Frederick Kunz, communi-
Gated with John D. Rockefeller, Jr., Nj
Day and Rodman Wanamaker, who Is
one OF the executors of the BAnnett
estate.
II is the present intention of the So
ciety to convert these lots, fronting on
both Fort Washington and Pnehurst
avenues, into Il memorial park. The
highest price paid for any one of these
single lots was $500 and the lowest
$4,000. This, together with the an
nouncement OF the syndicate's plans. put
higher estimate on the other property
In the vicinity OF the memorial.
Among some OF the other big buyers
Who participated in the sale were DIR.
Charles V. Palermo. builder OF apart
n1ent houses and owner of the splendid
mansion situated between Northern ave-
nue. and Riverside Drive, just north OF
lSlst street, at the southern boundary
ot the Bennett property in this vicinity ::
NJ. Rosenweig, who bought $4,000 worth
Of lots; Morris l. Strunsky r. A. Perry,
who has Offices in the Woolworth Build
Ing, and Felix Isman.
AS nearly as could be estimated Dr.
Paterno's purchases amounted to about
$4,000. In all he bought about forty
nine lots In the vicinity of the Palermo