davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-01-02
NEW JERSEY LOOKS
FOR BIG YEAR IN 1924
Pins Hope on Tunnel and
Bridge to Link Her With New
York and Pennsylvania.
by @. r. KRAEMER.

Never in the history of New Jersey
has an incoming New Year been fraught
with so many auspicicus circumstances
as confront US in 1921. In all parts of
this thriving commonwealth arc prep
arations being made to meet the on
coming tides of industrial development
and the accompanying seekers for
homes This influx of homeseekers is
going to be materially augmented with
the beginning Of the actual work on the
vehicular tunnel under the Hudson con-
Meeting the great metropolis with Jer-
sey's shores and the rapid development
of the plans for the construction OF the
bridge connecting the Keystone State
with south jerseys vast expanses.
The real estate men throughout the
State are looking forward to the most
successful year in the annals of their
profession. The housing shortage
brought about during the war period has
given the real estate men an opportunity
to sell out every available piece of prop
erty that was listed with them. so that
the necessity for meeting the still steady
demand for homes Is acting as a tonic
to force building operations. Both the
gradual adjustment of material prices
and the saneness with which labor Is
beginning to look at things will result
in building boom beyond all expecta-
tions.
New Jersey Is fast becoming the log
zeal workshop Nof our great metropolis
on the north and the keystone State on
the south. The wonderful strides that
our transcontnental railways are max
Ing and the development OF their great
freight assembling yards on our tide
water shores, In addition to the vast
sums of money that the city OF Newark
is contemplating expending and also the
assurance of additional millions to be
appropriated by the Federal Government
for the deepening of the channels IN
Newark Bay mean that Newark is to
become a seaport of no minor conse-
quence. and this constructive programm.
taken as a whole at this time Is by nc
means insignificant
The New York herald., 1921-01-02
RESIDENCE ON W.BoUEkE COCHRAN ESTATE OF ZIG
AoRss AT PORT WASHINGTON, LII. NOW OWNED
j. s

counter balancing phenomenon oc-
CURED in the form of sudden demand
for big estates in certain sections of the
suburbs toward the end OF the year.
The sale OF big estates worth 100000
or more were numerous enough to harass
THE NEW York HERALD's committee of
experts when 1t came to picking the
most remarkab BILE deals of the year in the
suburban area.
Two transactions stood we'll out from
the mass however. They were the sales
involving the w. Bourke Cochran estate
at Port Washington. l.. l.. and the Otto
Fl. Kahn place at Morristown, n. j.
When it came to naming third big deal
several transactions were found to be on
seeming parity. So as not to do an
injustice therefore the committee de-
rided to narrow down its selections to
the two deals named above.
The former Cochran estate at Port
Washington covers SIG acres of high.
rolling country, with a water frontage
OF about 2400 feet and vantage points
The New York herald., 1921-01-02

the new Administration gets under way,
spring will see a fair market for coun-
try places, although the present outlook
for a very inactive market this win
ter In sales OF such estates. OF course
the country market at this season de-
pends more or less on an open winter.
as many prospective purchasers are re-
luctant to make trips to look at country
properties during cold or inclement
weather.
Builders who have recently built sub
urban houses and who still have these
houses on their hards are now anxious
to dispose os the properties and are
willing to sell at lower prices than they
would have taken last spring.
Asking Prices Have Been High.
Some owners OF large country estates
have been Influenced by the rise in prices
of city real estate. and have IN many
cases named sale prices which they have
arrived at by figuring the cost of dupli-
cation of their present buildings. The
buyers, on the other hand, scarcely ever
pay the owner what the properties have
actually cost the latter unless in cases
where the land has materially enhanced
In value since II was acquired by the
seller.
many DTOheTS III reporting tnelr Sales
OF country properties are In the habit
Of exaggerating the prices at which the
properties have been held or sold. This
is nslea ding and tends 10 make other
owners Of reighboring properties try for
larger prices. 1t is perhaps advertlsin2 2
for the broker, but II does not help in
negotiating the next sale when the
broker tries to sell another similar prop
| erty. In some cases the reports of the
very high prices paid may tend to keep
other prospective purchasers from con-
sidering properties In that section. OF
course there are many instances II
which the purchaser may not care tc
have the purchase price made public.
During the last year the Wheatley
Hills Real Estate Corporation negotia ted
twenty sales on Long Island. Or he
North Shore our sales for the year 70
aggregated s9.000.000. This does moi
include the sales of smaller properties III
suburban developments. In the previou:
year there were two country estates sold
at 81. 900 and s1,25O,0O0 respectively
The total sales for the year Just closed
fall short of sales for 1919 by abou
| S3,000,000.
The New York herald., 1921-01-02
JERSEY COAST WAS I
A GOLD MINE IN 1920
Supply of Cottages Fell Far
Behind the Demand
1921 Prospects Good.
By JOHN ID. MINER.

The resorts OF the Jersey coast dur
ing the season of 1920 We're patronized
as never before In history. The demand
for cottages for lease as well as pur-
chase was unprecedented the supply
fell far short OF the demand. notwitn-
standing the fact that values and rentals
advanced not only appreciably, but In
many instances abnormelly. This con-
dition existed not alone in one nut in
every section OF the coast; cottages that
had been lying dormant and neglected
for past seasons were suddenly, and
Alladin-like. awakened TO new life ard
activity: alterations and improvements
we're made and fresh paint applied and
the reburnished properties attracte
ready buyers and tenants.
Atlantic Highlands. the Rumson sec
ton. Sea Bright. Monmouth Beach, Long
Branch, Elheron. Deal Beach. Allen
hurst, Bradley Beach, Asbury Park.
Avon, Belmar. Spring Lake. Sea Girt and
Point Pleasant were all a scene of un-
usual activity: properties both old and
modern found many new owners ans
the published lists of transfers of tit:e
were larger than they had been for many
years past. Buyers IN most instances
sought the owner and in their anxiety
to purchase would pay the price de-
counter offer or compromise. Proper
ties sold almost automatically.
The demand upon real estate agents
along the entire Jersey coast for prop
critics was such that the supply was
early exhausted. with the result that
II was most difficult to find seller
the reverse OF former years. Unfortu-
nately, Inc many cases. the prices de-
manded for some properties were far In
excess of the actual worth. but withal
the market for the season of 1920 was a
healthy one
The prospect for the enhancement Of
values for the season of 1921 and en-
suing years looms up brightly. appeal
ing to the prospective purchaser as an
investment which the future will more
than Justify, He realizes that there is
but one Jersey coast, and that the field
for the acqur ing of property Is neces-
sarily limited>in comparison with inland
properties.
The New York herald., 1921-01-02
ARE FLORIDA RESORTS
REALTY BAROMETERS:
ny j. CARLISLE PEET
of Ladd d Nichols.

This firm, which maintains offices at
Palm Beach and Miami, has given con-
siderable time in an effort to translate
the significance of the winter realty ac-
tivities at these resorts into an intelli-
gent forecast of the firms regular busi-
ness in the New York suburban field.
The following interesting comparisons
along this line were noted:
The season OF 191S-1919 in Florida
started off a little slowly Cottage
rentals, however. went very well, and
with the opening OF the actual season, or
more exactly, by February. 1919. n
strong market for houses and unde-
velcped land made It's appearance.
About this time reports of a great rise
in real estate activity near New York
began to be heard. Within a month
thereafter the activity in Palm Beach
had risen 70 the proportions OF an actual
boom.
with the opening OF the 1919-1920
season In Palm Beach amazing and un-
foreseen developments set In. Houses
which had rented regularly for years
stood vacant Potential buyers looked
at cottages and land, and GUESSED 1t
would still be there next year" Here
and there sales were made. of course.
but In general the strong market, espe-
cially I'm Palm Beach and the luxury
class Of properties, was dead. No one
to-day. with the Northern market ap-
preaching genuine slump" will call
the situation cheerful
What about the future7 The time
covered in Ladd & Nicholss observations
10 admittedly too short to furnish more
than ground for interesting guessing.
However, business activity at Palm
Beach and the major resorts has I'm
proved with extraordinary velocity.
Prices have been scaled down to fair
limits, and houses again are scarce re-
gardless of size.
What this may mean Is perhaps too
vague for any assertion. even hypo-
thetical one. Perhaps the freuuenters OF
Palm Beach. being chiefly business lead
ers OF the country. feel before the rest
Of the population the turn toward
healthier times.
The New York herald., 1921-01-02

II Is probably somewhat less-say twcn-
ty-flve miles. Flying at the moderate
rate Of seventy-five miles an hour these
gentlemen could reach Forty-second
street and East River. or II traffic there
prohibited the North River, In about
twenty minutes. as against forty-five to
fifty minutes on the train, or one hour
and fifteen to twenty minutes by motor
car. The trip to their mooring in
Greenwich and from their landing place
in New York would add somewhat TO
the total time consumed but their jour-
ney from home to office would still be
cut in two
Because Of the fact that landing facil-
tiles near tho business districts of the
city are more easily obtained through
tho two rivers and the bay tho hydro
alrplane commuter will have an easier
time OF Il when this mode Of travel de-
velops than those who would commute
by airplane. OF course It is quite as
necessary that the formers country
residence be within easy reach OF suit
able water for the start and finish Of
his round trip
Flying to and from business in q ma
chine that starts from and lands only on
the ground Is more difficult problem.
principally because OF the few landing
fields within short radli OF the CONNER
cial districts. Assuming. however. that
ample facilities for both methods OF
flight have been secured and that covn-
muting by airpiane and hydro-airplane
IS IN fun swing, what effect will such
travel have on country properties?
Miles VIII he Mere BngnteIIea.
In tho first place Il VIII terd 20 level
property values, for the reason that he
village or town twenty or thirty miles
distant will not have such n distinct ad.
vantage over the village or town OF
thirty-flve or forty miles away from the
city, for what Is five or ten miles among
airplanes2 Properties far distant from
commercial transportation lines will not
In most cases be less desirable than those
within speaking distance of stations.
To-day an estate costing. wen say for
argument, 100000, situated convenient
10 the railway station, looks far more at
tractive to the average purchaser than
an otherwise equally desirable property
some four to eight miles from the depot.
and In nine cases out Of ten Il will bring
The New York herald., 1921-01-02
BY BURGoYNE HAMILTON,
BurOoyne Hdmiiton ard Adrian
IseIin III.

of BurOoyne Hnntiiton ard Adrian
IseIin II.
Prophesying on the exact results the
airplane will have In the development
OF the nearby country Is a dangerous
pastime; yet one cannot progress with
the times and Ignore the fact that COM
muting by airplane or hydro-airplane
will soon come TO be commonplace per-
forrnance among n certain class of peo-
pie at least
At present there are several wealthy
sportsmen who use hydro-airplanes not
merely as thrill producers but for tho
sole purpose of getting to and from their
destinations IN the least possible time.
recall yacht race on Long Island
Sound last srmmcr. ono OF the shippers
he'd his boat sent out ahead and followed
later IN his hydro -alrplane, which got
him there from a distance OF some ten
or twelve miles in as many minutes and
IN time to board his boat and take part
in the race.
A London TO Paris air line seems fully
established. the only discouraging fea-
ture. so far as passengers are concerned,
is the fact that they cannot take heavy
luggage with them. Air mail routes In
this country have ceased TO be a novelty,
and we are quite used to hearing about
ably moro than score Of passengers
The writer Is not attempting 20 Illus
trate all the accomplishments Of the
airplano. but merely those that come
easily 10 mind. but enough. we think,
10 Justify these conservative predic-
tons:
Take Greenwich Cor Example.
Let us taio for granted that a hydro
nirplane has been put on the market
at reasonably moderate price. that
makes travelling short distances COM
Portable, safe and very fast. Supposlng
such plane accommodates from four
to six passengers and can be used In all
kinds OF weather. excepting In ex-
tremeiy dense fogs or snowstorms. Let
US say that some gentlemen In Green
wich, Conn. own one OF these planes.
which they keep moored alongside the
Indian Harbor Yacht Club dock. Green
wich. by land. is just twenty-eight miles
from Forty-second streets by air route
The New York herald., 1921-01-02

In 1919 a great many buyers who had
been holding off until after the war teis
free to go ahead and purchase homes,
and money also was easier then than
now. There has been a somewhat
greater demand for acreage properties
this last year. although the majority OF
buyers still prefer to purchase finished
country estate or, at least property on
which there is farmhouse which is
worth remodelling.
At the present time there are more
prospective purchasers for properties
valued at from $4,000 to $4,000 than
for the more expensive estates. However
there are some who would buy places
ranging up to S25O.o0o If they could find
q property which met their require
ments Occasionally multi-millionaire
inquiries for properties valued at 100000
to ss50.000. and there has been one sale
CLOSED this fall involving a north shore
property. the price OF which was
Sso0.0o0.
n VI
Five or six years ago most of the
farmers were asking $1,000 per acre for
their properties in the Brookville. Syos.
set and Jericho sections. Many OF these
owners are to-day asking from half a!
much again To twice that figure, and IL
many cases their prices are not Justified
OF course high. rolling land as ruie
is more sought after by city buyers. and
II is natural that these properties should
realize a better price than the low leve
land. There have been instances where
adjoining farms have been sold. one al
about one-half the price per acre paid
for the piece Of land next door. the
reasons being that one was larger tract
and the owner wanted to dispose of II
while In the second case the property wa:
not in the market and the purchaser had
to pay full price in orde- to Induce
the owner TO sell.
Environment and distance from clubs
and water also more or less contro
the values of these properties. Next
year, should the excess profits tax be
repealed and money rates go lower after
The New York herald., 1921-01-02

well over $1,000 1t was originally
laid out by Abram A. Wolf who built
two large houses OF Spanish design for
other members of Mr.. Kahn's family.
One OF these houses burned down and
Mr. Kahn reconstructed the whole estate.
In addition to the big mansion there are
at present six cottages. large stable.
farm buildings. dairy squasheourts, Two
tennis courts and an eighteen hole golf
course. The landscape designing was
done by Brinley and Holbrook, and the
grounds are famous in that section OF
New Jersey for the specimen trees ana
shfubs with which they abound. 'Adjoin-
ing the property are the Morris County
The New York herald., 1921-01-02

farm barns and an old farmhouse down
near the waters edge whose construc-
ton dates back to the Revolutionary
period. The new owner, j. S. Cosden of
Cosden oe Co.. oil refiners. Is said to
have paid 100000 for the property.
which was first held at S1.O00.o00. The
Wheatley Hills Corporation handled the
advertising prior to the sale, but the deal
is said to have been closed by Mr..
Cochran through friend.
Cedar Court Otto Fl. Kahn's former
country home at Normandie Heights
Morristown. brought a price in the
neighborhood OF sl,0Oo,ooO according to
the report at the time OF the sale which
The New York herald., 1921-01-02
Queens and Nassau Await
: Suburban Home Seekers
BY EDGEwoRTH SMITH.

intention so much to influence these po-
tential home owners, but to help and to
guide them and to save them much
time and energy. In order that we may
be able to live UP to our part of the
contr act we have combed the entire sec
ton between Forest Hills and Garden
City. Every available property. from
$4,000 to 500. 900, has been completely
described, indexed and photographed.
All the available facts regarding the
property and its location are known to
us and there is no guesswork for the
homeseeker.
The New York herald., 1921-01-02
puy. Place I'm Purchase. N. Y.

Bryan L. Kennedy has sold for MI
chael H. White his place on Lincoln ave-
nue.. between Westchester and Harrison
avenues. Purchase. N. T.. consisting of
thirty acres. with two story dwelling.
barns and outhouses, to w. Hamilton
Busk of the banking firm OF Shearson,
Hammill & Co., II Broadway. Mr.. Busk
will improve with a handsome residence.
The property has not changed hands In
sixty years.
The New York herald., 1921-01-02
AvENEL, N. J., OFFERS HOMES
Developers Plan to Put Up 100
Dwellings This Year.

Many New Yorlsers have bought homes
at Avenel Park. N. j.. which is twenty
one miles from Manhattan on the main
line of the Pennsylvania Railroad. The
Maple Realty Company. which began
development In 1917, has spent large
sums In Improvements. The residents
OF Avenel have formed an association
and are erecting a clubhouse. laying out
tennis courts, park and playground
for the children.
The developers will have twelve new
houses built by the first Of next month.
and they intend to erect at least 100
more. Avenel is said to be the highest
spot between Philadelphia and New
York Besides the Pennsylvania trains
the company Is served by the Perth
Amboy. Railway and Westfield trolley
lines.
The New York herald., 1921-01-02

was closed early last July. 1t Is to be
converted into q sanatoriuTn by the gym
dicate of New York and Philadelphia
physicians which purchased 1t.
The estate, it is said. cost Mr.. Kahn
The New York herald., 1921-01-02

Tho remaining available land for home
site purposes in Queens Borough has
shrunk to a point where 1t can be easily
measured and its complete and final
conversion into residential sites, golf
courses. community grounds and other
forms of suburban community planning
can be actually forecast. Nassau county
is only few steps behind in this re-
spect.
Some interesting statistics prepared by
situation most forcibly. Queens Bor-
ough, the figures show, has only 5000
acres remaining of land "uncultivated
and undeveloped,' while $4,000 Of the
$4,000 acres constituting the area of the
borough are NOW occupied or under de-
velopment." with $4,000 of these $4,000
scres residential in character and occu-
pied" All Of which speaks well indeed
for the future OF the III square miles
known as the Borough of Queens.
Nassau county, just beyond New York
city's easterly line, has an area of 252
square miles and the possession of
161.2s0 acres of land of which $4,000
acres are said TO be neither cultivated
CT under development" Could the Mas
sau county statistics have been confined
TO the sections closest TO the city line.
the areas of land "undeveloped and un-
occupied would have been far less than
that established by the figures for the
county as a whole.
For the year 1920 it is said the Long
Island Railroad will carry approxi-
mately 100000 passengers, of which
the greater number. 23,700. 900, will be
handled at the Pennsylvania Station
"a 300. 900 at the Flatbush avenue ter
n inal in Brooklyn. 100000 at Long
Island City. Hunters Point avenue and
Woodside, and 100000 locally.
The New York herald., 1921-01-02
who SHAH Limit city. Growth

mis- DAY and generation, magnificent "a
hey arc. viii prove more permanent
sSnn their predecessors Already many
--.stantial buildings erected less than
Shirty years ago have been consigned to
oblivion.
And who Is there that viii dare 20
predict that New York, with lts six
millions OF population and It's present
physical character. has reached the final
stage OF its development? Signs are all
TOO abundant that the same forces are
stiil at work and with ever increasing z
energy. and there seems little reason 20
doubt that the next twenty year period
Will repeat the experience OF It's ante
cedents In requiring provision for an In
crease of population nearly ~ not quite
equal TO It's present numbers, which
means the building OF n new New
York." with the attendant remodeiilng
md rcndiustment OF the present city. It
10 the privilege and duty OF real estate
men 20 anticipate and direct this ex-
pansion and not merely 10 profit By t.
or course. such a continuous move
ment IA has been described cannot have
taken place without occasional local
1niefortunes, as In the case OF the old
dry goods district and OF Twenty-th third
et-sst from Fifth to Sixth avenue, and
increases In value are never equally dis
fributed but Viewed as a whole the gem
eral tendency OF real estate values has
always been upward. and must continue
10 be so regardless OF apparent tempo
rAry depressions.
To look back over the way that we
have come should surely supply courage
and optimism as TO the future OF real
estate In this vigorous and ever expand
snG town OF oura
The New York herald., 1921-01-02

from which two splendid marine views
may be had. The property Is on the west
side of Hampstead Harbor. and 1t IN
cludes a large dwelling, stables. garage.
superintendents cottage, gate house.