The New York herald., 1921-06-07
Advertisement.
MIAMI and MONTRAY
Names that are united TO bring
happiness and prosperity to many people
Article No William c
Previous sartice m request)

l want to make further reference to our auto
mobile trip in Miami, Sunday afternoon May Is. In
my last article told about seeing the developments
going in the sections touched by Twelfth street now
Flager ST. Coral Way Dixie Highway, Tamiami Trail,
Red Road lie Jeune Road ETC. This territory is dotted
with holdings of the Montray Corporation. Other
holdings being acquired. Last week big acreage
added
We motored the Dixie Highway to the home of
Gordon Nye, editor and proprietor OF the Miami Real
Estate Journal who accompanied our ride. He
lives Little River beautiful suburb lying north OF
Miami t54t.
Mr. Nye looked across the street from his home and
said to u.s.
"See those two lots? How foolish was not
to buy them when had the chance to do
They offered to me last September at
200 each. A month later they sold for
sI,45o EACH IN February of this year they
were resold for 400 each-just double the
price which they offered to me- The
present price is 600 each, 81, 200 for the
two Another lot nearby sold for $4,000 last
September. 1t resold recently to its pres
ent owner for $4,000
Striking illustration of advance in real estate values,
is it not? And it is true, because what Mr. Nye says
is
Near Lemon City, and one-half mile west of the Dixie
Highway there is very attractive section in which is
located on Avenue G., the Agricultural High School.
This section appeals strongly to home-overs. Within
very short distance of the school at the of Avenue
G and Dupont street. the Montray Corporation has
development where remain only 20 los each 50x5O feet
that are most desirable for homestes.
The Montray Corporation planned to acquire other
property in this section but between the time negota
ons were first entered nto and final negotiations were
discussed the of the property advanced the cost
of acreage $1,000 Mr. Dumont, president would not
purchase at this advanced COST although then ne had
known as much about Miami realty he does he
would have bought without any hesitation.
Mr. Dumont had his eye on another acreage in the
Buena Vista section-0 acres the price OF which was
S14OO00 He sent representative to negotiate for its
purchase but h was informed by the that the
offer of $4,000 had been made few months before,
and that the price had advanced to S26O00O,
The reason for this extraordinary advance because
the owner realized that his holding represented about
the only substantial acreage left in the city limits He
evidently knew that Buena Vista would be taken into the
city proper in short time.
The Montray Corporation has been asked by a number
of people who have called at their Offices sol Fifth
what property there is available in the city proper These
people have been told frankly that there is property
in the city limits available for subdivision any
than there property available for subdivision on Man
haitian Island-and for the reason, namely: Man
haitian Island s built up, and so is Miami.
All development is confined to the suburbs of Miami
because lots inside the city limits land there very
few of them sell at prices that are prohibtve to the
average person They bought readily, however by
people who them for business purposes for the
erection of expensive homes