New-York tribune., 1921-06-09
ADVERTISEMENT

Right here want TO emphasize that the develop
inents now gong on in the Miami zone viii be taSes
want to say. too that believe now IS the time to
buy, before they are taken into the city proper.
Buying now will permit people OF moderate means
to acquire homestes at prices they afford to pay.
and, besides, IT will preserve the democracy OF the
city which is so close the hearts OF the people OF
Miami, and which they think is so essential to It's
permanent prosperity. They know that conunul-
ity can be real progressive community unless It's
population is general in characteg-that is made tip
OF wealthy and moderately circumstanced people.
Thousands OF people, who delight in the wonderful
Miami climate, live in tents during the winter months
like
In time, these people, due the enterprise OF tic
Montray Corporation and other progressive reait,
to build homes thereon as fast as sectors in the
Miami zone can be improved.
1t is the expectation OF ali who know the possibi-
ties OF Miami development that the vast acreage now
lying the outskirts of the city will be converted
into beautiful highways which will be lined with
modest homes owned by people OF moderate means
This represents The real Development of Miami and this
why opportunities today wonderful to acquire
properties at reasonable prices
Please remember what have said in previous art
clesiiat the city limits the future Miami mill embrace an
of AT least i26 square miles, and in this territory
and is acquiring properties that will enable their
clients to obtain holdings either in acreage or plot
factory terms
Here is live prc piece of direct from Miami which
once more emphasizes the rapid increase in the value
of real estate:
The Halcyon Hotel has been acquired by Frederick
H. Rand, Jr., on 99-year lease, the terms of which
are: For the hrs year, payment OF &5,000 for the
100000 a year; for the next FIVE years, $1l2,500
year; then Sl25,0O0 year for period of s3 years
The lease. was made per cent net basis on a
valuation OF the property follows:
First period Of one year, valuation of. 81 100000
Second period OF years, 49,. 1150O00
Third period of years, - 100000
Fourth period of years -. 225O0Oo
Fifth period OF 50 years, .... 100000
[Six years ago Mrs. NJ H. March manager Of the
hotel sold half interest for S100O00 and her friends
congratulated her Recently she was preparing 10
buy back this half interest and to pay S750O00 for
the same.
Mr.. Rand apparently knows the value of Miami
property, for he property in the city and vi
cinity to the value OF about S5,000000.
Here another paragraph shopng pha has happened in
MI-Amar now a prosperous part of Miami but
which few years ago almost far removed
from the city proper the present Montray acres
located near the Tamam Trail:
Fourteen years ago a real estate operator with
vision, bought piece OF property lying between what
is Biscayne Drive and Biscayne Bay, in exchange
for and dunp-cart H started to develop
the acreage into building plots, 50xI50 feet and peo-
pie said he was crazy when he offered these lots to
buyers at $3.50 each.
Today building lot 5ox15o feet, costs $4,000 in
this section
This is true story as all other stories am
telling you about Miami