The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-06-01
LONG BEACH SALE
TOTALS $2,O66,O4O
Should Add 5000 to POpula-
ton Of Resort i'm Year, Says
Senator Reynolds.

Seeing is believing" said an old time
real estate man as he left Joseph 7.
Days big auction tent at the conclusion
of the Long Beach lot sale. "and those
who sat through that sale with me to-
day cannot help but believe the evil
dence OF their eyes that the long herald
cd lot market is with us and has been
with us for some time"
The evidence referred to by tine old
timer was the fact that Mr. Day had
set out to dispose of 1881 lots and had
wound up by selling 2,046 lots before the
impetus of the bidding had spent itself.
The total price received for the prop
erty was s2o66. 460, or an average of
81 ,0l0 per lot. Not once during the two
days of the sale-Saturday and Me-
mortal Day-did the bidding lag or the
attendance fall Off Investors, specula-
tors, builders and professional opera
tors were there both to buy and TO
watch.
At the opening OF the sale Mr.. Day
said that 80 per cent of the lots would
be sold without the restrictions which
govern improvements in the neighbour
hood with the exception Of a nominal
other per cent, he said. would be sold
with modified restrictions in order to
protect the owners of adjoining prop
critics.
The range OF prices for single lots was
from $500 to So $50. the latter price being
obtained for a single lot on Park street.
opposite the Long Island Railroad sta
ton.
Among the heavy buyers were Isaac
Parshelsky and Isaac Zeret. the biggest
builders of bungalows on the Rockaway
Coast Felix 1sman. Martin McHale,
Joseph Schenck. president of the COL
lege Holding Company. bought LARGE
block OF boardwalk lots. and T.. f..
Smathers, the well known capitalist and
horseman, bought n block Of seventeen
boardwalk lots, east of castles-by-the-
Sea. Edward Margolis. the operator
and theatrical producer. also purchased.
The prices of boa rdwalk lots ran from
1890 lot TO 5000 on the west end.
The Park street lots, the next business
street. ran from sI25 lot on the east
end TO 5000 and 5000 each for two
separate lots near the railroad station
Lots In the restricted section averaged
from 500 to 5000 each. Those I'm the
bungalow section ran all the way from
500 to 1900 each. Long Beach boule-
Naru, the street WneTe the new HlillOh
dollar steel bridge enters the property,
averaged 81 900 lot.
Senator William II. Reynolds, presi-
dent OF Long Beach on the Ocean. the
end OF the sale made the following
statement; For sixteen years I have
been an optimist on Long Beach real
estates. ! have spent many millions of
dollars in developing this wonderful sea-
shore resort and Il Is with pride that !
look back upon my work. The buyers
at Yesterdays sale should have every
reason to feel happy. They purchased
wonderfully located lots in an ideal sec
ton and now I look to see Long Beach
make big leap forward. for this sale
cannot help but mean tremendous
amount OF new building and increase in
population.
This sale so ably conducted by Mr..
Day and his assistants, In going TO be the
means of bringing n population OF 5000
more people down to Long Beach within
the next year. The march OF prosperity
is on for Long Beach"