New-York tribune., 1922-12-24

(COnuuued from pees eht
dose 10 a million dollars for GOO va
1at lots.
Ny confidence in the future Of the
nl estate auction market IS also
rengtheued by the increasing mum
W Of women investors, oper-tors and
sseulators at all my sales. When
wnen show a I've interest in real es-
aie. IL is final proof that real estate
sas stable and secure as Gibraltar Is
wpularly believed to be. Their ac-
fvity in realty is a great stimulus
sna look forward 90 the time when
vonsn will, in volume, equal that Of
nsn trading in the open market.
IN reviewing this market and In
.efsessting tho prospects for 1873, ii
Il rsesss6ry to divide the field into
.vo zroups--yseant and improved
Ffopert,
bgrlrg 1929 some OF the most I'm
poItt1t vacant tracts ever offered
iound A. esger snd insistent maFket'
lalsc seemed 70 be no limit 20 the
Hnoart which would be absorbed, at
prl.ss vhi,h showed the purchasers
ikllec irdgnsnt OF realty values. As
natter Of isct, IN many cases the
ouyefs resold TIC lots which they pur-
erased at suction in q very short
me. At handsome profits. The scope
d This market is suggested out Of our
M experience, by the fact that, even
t Apnl, before the Uesgon was we'll un-
g'i tsy We were announcing sales OF
t1 different tracts. These SIX tracts
isialsd nearly 1900 lots, and ranged in
.eeailon from New Jersey and Long
tlahd 70 Westchester County, with
'aise sales in the Bronx.
Activity shown Early
tifly in the year our sale Of the
asIcen Estate in Riverdale showed
Z. 'gh tone Of the 1899 market. Here
y lots brought $113,s5O. Almost all
iaese plots we're sold in small units
ION one 10 four lots.
little later, our confidence in the
Mollities Of Westehsster property
amply endorsed by the sale Of
hreek Estate in Port Chester.
Hshealiy every one OF the 500 lots
l. 2 local buyers for a total OF
~ s<Oe,OO0. Two other Gales in this
sthoorhood, later in the year, jusu-
= our belief that there IL a constant
a.nd for building lots IN West
'sr County.
ssother test Of the demand for lots
1e Bronx. especially when they lie
- the subway routes, came when
euered the splendidly located tract
sn as the Mace Estate, at the
s.slon Of White Plains Road and
...'on Post Road. Here the high av-
- price OF Si,i7i was paid for the
,oi' offered. Many Of these we're
asld BY the purchasers at sharp
"snts very soon after.
a. as" years ago we used TO think
- the season for selling vacant
gper1y ended with the spring, but
- year We saw again buyers absorb
such property during the summer,
&c iali and well into cold weather.
.J proves my contention that the
mort season was more a bad habit
ne part Of owners than any real
.ahngness TO buy at other times
tae part OF the public. Out Of the
snhons crowded into New York
,sAsIments there are always thou
49, sho want home sites right away
Sso will buy the right sort Of
,-sg,ny whenever II is offered, es-
saily when the terms are reasonable.
- =. proof Of this let me cite the sale
.he Westehester Country Club,
,tn We held on October z. This
.Perty, Just south Of Pelham Bay
,s vas one Of the finest tracts
~ We have offered IN several years.
f.,i ne fact that II was sold in the
49, 49, .PRarsntly made no difference, for
- u negsands Who attended the sale