The New York herald., 1921-09-28
INVESTORS ACTIVE
AT BRONX AUCTION
One Buys Entire Block Front
at Sale of Watson Estate in
Eastchester Section.

f. c. Brinkerhoff, a real estate man
of Springfield. Mass, was riding down
town on a Broadway surface car yester-
ment of the Watson estate sale in THE
NEW YORK HERALD Now Mr.. Brinkerhoff
had come to town for the purpose OF
closing big deal, and local auction
sales were entirely outside of his pro-
gramme. He had, however, q strong
desire to see Joseph P. Day In action
on the rostrum, so he asked the con-
ductor where Vesey street was. and
eventually reached the Real Estate Ex-
change, whittier about eight hundred
people had preceded him. To make a
long story short by anticipating the In
ovitable he bought one Of ATS lots
comprising the Israel Watson estate in
the Eastchestcr section OF The Bronx.
He learned what great many folk now
know--tiidt those who visit one or Mr..
Days sales out OF mere curiosity seldom
stick to the role of impersonal witness
IL they happen TO have the price of lot
in their jeans.
But the story has wider significance
that the present lot market is largely
supported by the investor. OF course
the homebuilder has created the market
in his effort to locate available sites,
but the demand fostered by the latter
has presented the opportunity to those
who, like Mr.. Brinkerhoff. have some
money to invest. The Springfield realtor
admitted to a representative of THE
NEW YORK HERALD that as far as any
~4lx 1, 0,o Il
little use for the lot as "a cat for two
tails"
The principal purchase at the Watson
sale was made by an investor, P. J.
Hangley, who has bought heavily in
the real estate market He was the
successful bidder for the block front on
the east side Of Eastchester road. for
which he paid $4,000 Another large
sale was made to George T. Bernard.
who bought the northwest corner OF
Eastchester road and Waring avenue,
paying s2.o75. Mr.. Bernard bought
more than forty lots at the Bruce
Brown estate auction sale last spring,
which he recently resold at a large
profit
Plots on the west side of Eastchester
road. between Waring and Mace ave-
nues. brought from $4,000 to s1.425
each. while a small lot at the corner OF
Eastchester road and Mace avenue was
sold for s5c5. The southwest corner of
Eastchester road and Waring avenue
brought $1,000. and adjoining inside plots
to the west brought s1.375. The south
east corner of Waring and Fenton ave-
nues was sold for s575, while the OPP
posite northeast corner brought $S25.
The plot adjoining to the cast was sold
for $1,000
The northwest corner OF waring and
Morgan avenues was sold for $625. as
was the northwest corner of Waring
and Fenton avenues. inside lots bring
ing S275 each. Inside plots on Morgan
avenue. between waring and Mace ave-
nues. brought $3.50 Those on Seymour
avenue, between Waring and Mace ave.
nues, brought 5000 each.
A plot on the south side OF Waring
avenue. near Seymour avenue, brought
s640. while short plots on the same
avenue between Fish and Seymour ave-
nues. sold for $500 each.
On woodruff avenue between Waring
and Mace avenues. plots averaged $3.50
each to $500. and on Mace avenue, west
of Woodruff avenue. $500 each. Plots
on the east side Of Woodruff avenue
brought S325 each while the southeast
corner of Mace and Woodruff avenues
sold for $3.50.
Commissioner John e. Eustis. who has
been identified with Bronx real estate
for many years as Public Service Com
missioner. and who was largely respon-
sible for the building Of the first sub
ways In the northern borough. congrat-
ulated Mr. Day upon the able way In
which he handled the sale. As attorney
for the Watson estate, Commissioner
Eustis has watched this property for
many years. He said the prices paid by
the purchasers at the Watson estate auc-
ton sale would look exceedingly cheap
a few years from now because of the
fact that the section Is bound to grow.