New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-08-03
No Rent Problems
For Tenants al
Jackson Heights
Plan for Cooperative Own
ership Results in the
Sale of Sixty Flats in
Period of Six Weeks

One Of the most successful apart
nlent selling campaigns ever conducted
n New York has just been carried
through by the Queensborough Cor
poration, owners and developers of
jackson Heights, Borough of Queens,
on the Corona extension of the Dual
Transit System, and comprising APP
proximately 100 city blocks extending
20 jackson Avenue.
The recent offering of sixty colonial
apartments. at 1874 to ia Twenty-fifth
street, met with responses from more
nan 1000 prospective owner-tcnants,
who had heard of the collective own
orshlp and rent insurance" plan. an
nounced by this corporation, for the
;irst time about six weeks ago. In the
mort period Of time since elapsed
every one of the apartments has been
sold. Each of the six houses is now
comparatively owned and managed for
the benefit of the owner-tenants, and
The rent to be paid by each tenant is
.'xed definitely and permanently. The
tenants are the landlords, and all the
profits arc theirs.
OF the sixty apartments contained in
the Colonial" buildings. the purchas-
ers are about evenly divided between
the present tenants and residents Of
Manhattan, Brooklyn, Queens and The
Bronx. Each tcnant-owncr has been
most carefully selected from among a
large number of applicants for the
apartment in question. 1t was, in fact,
necessary to reject very large num-
Der of applications.
The success of the Queensborough
Corporation has been recognized by the
city's largest and most prominent
lenders on bond and mortgage, and
only recently additional loans aegrc-
eating about $1,000 600 were made to
the Qucensborough Corporation, by The
Title Guarantee and Trust Company
Company, for the erection o. two now
blocks OF garden type apartments.
These are being erected now, and will
be disposed of in single units under
the collective ownership plan.
This method of selling direct from
builder to tenant" at cost plus q
moderate profit eventually will be
adopted by the company to the ex-
clusion of all other methods, so that
jackson Heights, comprising 100 city
blocks, will be the city's largest and
most important apartment residence
section, in which every tenant shall be
part owner OF the building in which
be resides. and where the phrase trent
protiteering" never shall DC heard.
Following are some OF the recent
buyers under the collective ownership
plan: DR.. A. c. Combes. Professor
Herman Defram, of Columbia Univer-
sity; Lieutenant Colonel E. G. Nc
Cleave. U. S. A.; L. D. Mayhem, of the
American Tobacco Company; W. c.
Blackwood, chief engineer New York
and Queens Electric Light and Power
Company; A. w. Walsh, secretary In
dustrial Y. NJ. c. A.; Charles w Ram
sey, assistant treasurer Abercrombie &
'N", EoiolSi e. y. AlSoP' Nice-pIesl-
dent United Hardware Company: +. p
Hildre,h. business manager "Wall
Street Journal: F.. r. F;elis. purchas-
ing agent New York and Queens Flee
trio Light and Power Company; Nil
ford Sims, New YORK Evening Post.
II. A. Carr, Alvin B. Giles, manager
international Trade Developer; Nor.
ton Daville, Jeremiah Kennedy. c. X.
Warren, Ernest J. Allen, of Walsh &
Allen; John G. Williams, of the Ameri-
can Tobacco Company, and Eugene c.
Woodstock.