The New York herald., 1921-06-07

Right here I want to emphasize that the develop
ments going in the Miami will be taken
in parts of the city proper in the near future and
want to say too, that believe is the time 20 buy
before they are taken into the city proper
Buying 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 close to the hearts OF the people OF Manu.
and which they think is essential to its permanent
prosperity They know that community can be
real progressive community unless its population is general
in character-that is, made up of wealthy and mol
eratey circumstanced people.
Thousands of people, who delight in the wonderful
Miami climate live in tents during the winter months,
because they find homes available and cannot
have homes built for them quickly they would like
In time these people, due to the enterprise of the
Montray Corporation and other progressive realty COM
panes will have opportunity to buy lots and to build
homes thereon fast sectors in the Miami zone can
be improved.
1t is the expectation of all who know the possibilities
of Miami development that the vast acreage now lying
on the outskirts of the city will be converted into beat
full highways, which will be lined with modest homes
owned by people OF moderate means. This represents
The real Development Of Miami, and this is why oppor
tunties today wonderful to acquire properties
at reasonable prices
Please remember what have said in previous articles
Of at least 1875 square miles, and in this territory
please make note the Montray Corporation owns and
is acquiring properties that will enable their clients to
obtain holdings either in plot or lot FORM at
advantageous prices and on satisfactory terms
Here is kue-uirc piece Of news direct from MAN.
which emphasizes the rapid increase in the
value of real estate:
The Halcyon Hotel has been acquired by Frederick
H. Rand yrr on 99-year lease the terms OF which
For the first payment Of $4,000; for the
next five years. SS7 500 year; for the next five years
100000 year, for the next five years. $12500
then $125,000 year for period of 83 years
The lease was made per cent. net basis on
valuation of the property as follows:
First period of year, valuation of Sl500000
Second period Of years, 1750,000
Third period of 5 years, 100000
Fourth period Of 5 years, 225000o
Fifth period Of 83 years, 250O,C00
six years ago Mrs. M. H. March, manager of the
hotel sold half interest for 100000 and her friends
congratulated her. Recently she preparing to buy
back this half interest and to $3.50 900 for the same
Mr. Rand apparently knows the value of Miami prop
erty for he property in the city and vicinity to the
value of about S3000,O0
Here is another paragraph sho,cing whd has happened
in Mir-Amar prosperous part OF Miami but
which few years ago almost as far removed from
the city proper the present Montray located
the Tamiam Trail:
Fourteen years ago real estate operator with vision
bought piece of property lying between what is
Biscayne Drive and Biscayne Bay an exchange for
coto and dump-ca He started to develop the acreage
into building plots 50x150 feet and people 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 a true story as all other stories telling
you about Miami.