The New York herald., 1921-01-30
CONEY ISLAND WILL
SEE REALTY BOOM
Court Paves Way for City to
Reclaim Nearly 2 Miles of
Bathing Beach.
BY WILLIAM p. RAE,

Vice-President of Realty Associates.
The year 1920 will go down in the
history of the city of New York as that
In which; by act of the Legislature. the
5000 feet of shore frontage extending all
the way from Sea Gate to Ocean Park
way became public beach. If the hopes
of Brooklyn are realized the rehabllita-
way by next summer.
This great victory means that Coney
Island soon will be delivered from the
long string of bathing house rookeries
and ramshackle piers that now obstruct
and disgrace that superb stretch Of sand
and ocean frontage. With the disap-
pearance OF these "eye sores" Coney
Island will come into its own and tho
city will proceed with the construction
of an eighty foot wide boardwalk. to be
erected at height of thirteen feet above
high water.
The shoreward side of the boardwalk
will afford several miles of splendid
opportunities for the erection of at
tractive stores. restaurants, hotels. bath
ing establishments and such other SIM
liar enterprises as are vital to the proper
development of a potential rival to far
famed Atlantic City.
At Threshold or Transformation.
A decisive step In the campaign waged
for so long time was taken recently
when Justice Benedict, in the Supreme
Court. Brooklyn, signed an order giving
the city title to an eighty foot strip
along the shore from West Thirty-sev
enth street to Ocean Parkway. This
decision means that the two miles of
Coney Islands waterfront, excluding
Brighton Beach and Manhattan Beach,
have reached the threshold of their
Transformation. All that remains to be
done is for the city to compensate the
sixty or more property owners and to
carry out the Improvement programme
decided upon.
The total cost of the boardwalk has
been estimated at $1,000 600. AS to the
grand total, including the cost of the
property to be condemned, an estimate
of $4,000 900 has been made, but that
figure may be increased or decreased,
according to the settlements made with
the property owners. In any event, the
cost of the enterprise is to be divided
between Coney Island and the city at
large. the latter paying 65 per cent. and
the former 35 per cent.
The effect of these improvements on
the future of Coney Island real estate
values has, of course, been discounted
somewhat. but not to any great extent,
and firmly expect to see land facing in
and adjacent to the boardwalk go to
higher levels. which should compare
favorably with prices in the best part of
Atlantic City. where great fortunes have
been made by the owners of lots along
the beach front.
Sea Gate VIII Feel Beneht.
Sea Gate. too. will be immensely bene-
fitted because of the Improvement in the
character of the approach to that resi-
Dental oasis. which actually is a place
apart. a reservation which has nothing
in common with Coney Island proper.
except its enjoyment of similar water
front advantages. However. 1t is but
natural that every Improvement of
Coney Island must and will prove bene-
ficial to Sea Gate because Of their close
proximity.
In advance of the Improvement of the
water frontage an important recent
undertaking has been the development
of all the large area of land, consisting
of about twelve square blocks. lying
directly east of Ocean Parkway and
Coney Island avenue and extending from
Neptune avenue on the south to avenue
on the north.