The Pleasantville press., 1927-11-08


for new methods in the financing
of real estate based upon the
magnitude of current real estate
operations, Benjamin r. Fox
developer of West Atlantic City
has increased the capitalization OF
his company so that others may
share with him his holdings in Fox
Manor.
The pioneer in the conversion OF
the Inlet section of upper Atlantic
City into a most attractive apart
ment house section, and the builder
of West Atlantic City into an ex-
elusive residential section, Mr.. Fox
has been the principal in many
large real estate transactions. His
operations have covered a period
of twenty years and included large
movements of Atlantic City real
estate, as well as actual construc-
tion of apartment houses, homes
and business buildings.
After spending many months
developing his plans, Mr.. Fox has
interested many men and women
of this section in his cotpor-
alton, Fox Manor Inc, West Allan
tic City. There is now being offered
to the public an issue of stock
which will give the investor, large
and small, an opportunity to share
in the transactions of the Fox
organization in Fox Manor.
AS In Other Enterprises.
why should not the investing
public have the same relationship
to the real estate business as to
other large enterprises, such as
the railroads and the public utili-
ties?' asks Mr.. Fox. Il am con-
lvinced that present-day efficiency
| demands complete reversal OF
current financial practices in this
field.
During the last twenty years
III, together with my immediate
associates, have handled an aggre-
gate volume of real estate business
totaling many millions of dollars.
This has been financed with
our personal capital as well as with
such help as we could obtain at
Jour banks. We have been success
ful, but our profits would have
been much larger had we not been
restricted 10 our personal resources.
Economic necessity is, more
over, producing more and more
elaborate homes, and larger and
larger apartment houses, anc
greater and more striking business
buildings. Yet the first and the
| great step is to provide the space,
or the sites for these vital factors
in the growth of city.
Ground Space and Homes.
ITO yield a satisfactory return
to an owner and still provide
adequate space for homes and
buildings it has been found neces,
sary to buy land that is increasing
more and more in value, to engage
in development work that is IL,
creasing more and more in cost,
and to build homes and buildings
that are becoming more and more
costly, because this is the trend
of the public mind: the demand OF
man and woman for better and
better living quarters and likewise
Improvement in the attractiveness
and efficiency of business buildings.
I These demands for better homes
and buildings involve costs in con-
lstruction and equipping which are
aside from the increasing values
and higher prices OF land and real
estate. situated as is that in Fox
Manor, lying adjacent to the famous
city of Atlantic City. the Play
ground of the World. This property
| lies along Albany Avenue Boule-
ward. and many are convinced that
/ its Eastern end will soon be the
real center of Atlantic City"
The home of Mr.. Fox is in Fox
Manor and there are attractive
homes, surrounded by beautiful
lawns and shrubbery which have
values ranging from $500 to $780,
000. Property on this boulevard
which sold three years ago for $40
a front foot has since been sold at
from $3.50 to $500 front foot Mr..
Fox predicts that boulevard lots
will soon bring $1,000 front foot.
Mr.. Foxs Great Effort.
Mr.. Fox, however, created these
land values himself. In the
beginning the land was several
feet below the Boulevard grade.
He put dredges at work pumping
sand from the bottom of Lakes
Bay and bringing the land up to
grade. He then put in streets. pave
! ments and other improvements.
built houses and gave them beautt-
fnl grounds 1t was a tremendous