New-York tribune., 1921-06-09
ADVERTISEMENT
MIAMI and MONTRAY
Names that are united to bring
happiness and prosperity to many people
Article No. 4-By William c. Freeman
(Previous articles mailed on request)

want to make further reference
bile trip i'll Miami Sunday afternoon May IS. In my
last article | told you about seeing the developments
gong on in the sections touched by Twelfth Street
(now Flagler st), Coral Way. Dixie Highway Tami
ami Trail, Red Road lie Jeune Road, etc. This terri
tory is dotted with holdings OF the Montray Corpora
ton Other holdings are being acquired. Last week
big acreage was added
We motored the Dixie Highway to the home
OF Gordon Nye, editor and proprietor OF the Miami
Real Estate Journal who accompanied us on our
ride. He lives at Little River beautiful suburb
lying north OF Miami
Mr. Nye looked across the street from his home
and said to is
See those two lots2 How foolish was not
to buy them when had the chance to do SO.
They were offered to last September at
$1,000 each month later they were sold for
Sl,450 each. In February of this year they were
resold for S2,4oo eacll-just double the price at
which they were offered me- The present
price is $500 each, 81 200 for the two An
other lot nearby sold for $4,000 last September
| 1t was resod recently to its present 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
Ne"l lemon Nity, ana one-hdlf mile west OF the
DIXIE Highway, there is very attractive section, in
which is located, Avenue c. the Agricultural High
School. This section appeals strongly to home
! lovers Within very short distance Of the school
(at the corner of Avenue @ and Dupont street, the
Montray Cooperation has development, where re-
main only 20 lots, each 50x5O feet. that are most
desirable for homesites
The Montray Corporation planned to acquire other
property in this section, but between the time nego-
tiatons were first entered into, and final negotiations
were discussed, the owner of the property advanced
the cost of acreage $1,000 Mr.. Dumont president
would not purchase at this advanced cost although
II then he had known much about Miami realty
as ne does now, he would have bought without any
hesitation
Mr.. Dumont had his eye on another acreage in the
buena Vista sectionlO acres the price OF which was
its purchase, but he informed by the owner that
the offer of $4,000 had been made few months be-
tore and that the price had advanced to $260000
The reason for this extraordinary advance was be-
the realized that his holding represented
about the only substantial acreage left in the c;tv
limits. He evidently knew that Buena Vista would
be taken into the city proper in short time.
| The MontrayF Corporation has been asked by num-
Der of people who have called at their offices sol
Fifth avenue, what property thereis available in the
city proper These people have been told frankly
that there is no property in the city limits available
for sub-dlvsion any than there is property
available for subdivision Manhattan Island-and
! tor the same reason namely: Manhattan Island is
built rp, and is Miami.
All development is confined to the suburbs of
Miami because lots inside the city limits (and there
very few Of them) sell at prices that are pro-
hlbltve to the average person They bought
readily however, by people who them for busi-
ness purposes, or for the erection of expensive homes