Times Union from Brooklyn, New York • 10

10 SUNDAY THE BROOKLYN DAILY TIMES JULY 29, 1928 BROOKLYN REALTY OFFERS INVESTMENT OPPORTUNITIES DEMAND INCREASES FOR BORO REALTY McCurdy Sees Year- -Round Market From Residents as Population Increases. With its present population approaching the Brooklyn should be able to provide a consistent, -round demand for real -estate from its own residents, regardless of the volume of buyers from other localities, according to Frank M. McCurdy, Brooklyn broker. In its position as the largest borough within the New York City limits, Brooklyn has a local demand of tremendous potentialities to meet increasing supply of realty units, he declared. Ample Buying Power.

Substantial proof of the buying power of this local market is in the reports received by Mr. McCurdy from many brokers and operators that the major portion of the present renting and buying activity is being carried on by residents the borough. believes that from Brooklyn's huge population there are four advantageous sources for new property buyers and renters, enumerated as follows: 1. Normal increase of population. exclusive of newcomers from other communities: Increased income ability of residents, permitting them to afford living quarters of a better scale; 3.

Normal increase in buyers of real estate for Investment purposes; 4. F'amilies seeking change of neighborhoods. Population an Advantage In each of these fields, he contends that the superior population volume of Brooklyn gives it a greater percentage of prospective activity than in any other borough' or suburban community in the New York City area. Such a localized market is 80 important, as he sees it, that every possibi. municipal improvement should be added to maintain civic pride in Brooklyn "Keep our present home owners satisfied with their home conditions." is his advice.

"The normal increase of population in Brooklyn yearly provides thousands of prospective home owners and renters. At the same time. business units must be added to meet the dermands of the increased buying power of the community. Demand Better Kousing "A decidedly worth- while percentage of our population also is made up of individuals hose income expands as they progress in their profession or business. and this means that each will seek more substantial I living quarters.

Such a movement from low- -priced to erate and then to exclusive home units Can he confined. with few exceptions, within the borough if Brooklyn maintains an adequate apply of all types of residential uarters. "We always have boon leaders in the building of the tirst two types of housing units mentioned above. and in the past 1 two. years we have seen the advent of modern, high class apartments which have supplied a more exclusive type.

The successful Brooklynite 110 longer to go to Manhattan or to seek within a limited area of his own borough for the better type living accommodations in keeping with his higher standards. "The buying field attracted by the investment possibilities Brooklyn real estate is the depend. ent upon the willingness of our realty interests to -jucat. our restdents as to the soundness and sub-, stantinlity of such investments. There 15 110 limit to the extent of such EL market if intelligently directed.

There are millions of dollars in private saving which may turned into worthy property investments. "The fourth group, consists of families seeking new homes. for a variety of reasons, exclusive of 111 come fluctuations -such as change of employment address: desire 10 br near friends: children entering V. schools, dr. One again, this group offers buvirg and renting prospects, many of whom might be to move into other munities it out local real' arel not alert.

and tr: fails to main municipal adjure at desired." KENNELLY WANTAGH SALE Offers 318 Lots at Auction on August 11th. Wantagh. is the northerly new State highway known Causeway 1. ut. l.

struction. This 1 1.1 provide a direct connection to Jones Beach State Park on the ar and the new and the Southern Star. In Wantagh 15 the known as Wanta4h Bag Park on Saturday, Aug. 11. at 011 the premises, Major Willam Kennelly will business and residential lots at auction.

(las and electricity have been installed at most of the lots and the owner provide these unprovements for the balance of these lots within a sonable period. Sidewalks have been laid. A special auction of properties 10 Manhattan, the Bronx. Broo' Flushing. Garden Edgemere, Yonkers and Mt.

Vernon will be held by Major Kenn-Ils In the Real Estate Exchange. 56 V'escy tomorrow at 12 o'clock noon A dwelling with about an Cr10 of ground in Riverdale, and a water. front home on Long Island Sound at Mamaroneck are the outstanding properties. BROOKLYN MORTGAGES At the me. -ting of its mortgage committee the Title Guarantee ani 'Trust ('o.

164 loans amountinfto $1.990,670. They were distributed as follows: In Manhattan and in the Bronx, and Brooklyn, Queens, Nassau and Suffolks, $1.152.670. N. Y. Title Loans.

The New York Title and Mort. Co. approved first mortgage during the past week on and properties' aLaounting to $315,760. $1,500,000 HOTEL; OFFICE BUILDING AND HOMES This structure is to be erected at Pinewald, N. hotel will be completed in 1929.

It will be The Master Building is corner of Riverside dr. a fine example of American Bond Mortgage mortgage certificates has SALES CONTINUE HIGH AT LAURELTON HOMES Hot Weather No Check on Record-Breaking Project. In spit ho' north structure, by the first 0' a 1 Laur: are on the part of ver of KS A under hid thor: hi hones 0:1 usual estimate of four persons in the family will mean that 10.0 vill residing in homes when this development is completed APARTMENT DEMAND GOOD IN ROCKAWAY Many Two Year Leases Reported in Now Structures. The J. for apartment houses 'in the Ruth las become more at parent with the announcement made by Hyman end Samuel Harris of the H.

H. Building Corp to the real committee of the Chambrr of Commerce of the Rockaways, that they have already signed twoyear bases CH 45 0111 55 apartments the buliding. This is located at enn nod adjoin. Ing the Columbia in Far Rockaway. The use aS completed last month and is one out of 11 spartment h.oures erected in the various sections of the Hockaways during the past year.

The great demand for apartment houses at a seashore resort has been a surprise to many ol4-time bullders REALTY INVESTMENT LAUDED BY RUEDIGER Says Stock Speculation Lacks Safety of Real Estate. Wadsworth Ruediger sounded warning yesterday to persons of moderate means who persist in investing hard-earned savings in unstable channels. "Although the fall in the stock market has been publielked to a great extent, a large number of persons who should know better are still buying on margin with the hope that the stocks which have taken a drop will miraculously rise again." Mr. Rueidger said. Safety a Factor "If people of moderate means want to speculate," he continued.

"they should confine themselves to real estate, where loss of principle is impossible, and where profits are assured to the man who has a little patience. The speculator finds his best. field in auctions, because here can find prices which will give him a wide assurance of profit and an element of safety which canfound in any other commodity. "As a matter of fact, people of moderate means bave begun to. figure very strongly at auctions.

This is contrary to the custom before 1923. A reaction from the business slump of 1921 caused people of moderate means to seek sound investments in case. of another slump and retardment of money and credit. As. real estate.

represents the safest and soundest means of investment. these people began to turn to this field as a store house for their surplus carnings. They climax was reached in 1925. year which is in red letters in real estate annals. as it was the most 'active real estate year ever known in this country.

factor that attracts people of moderate means to auctions is the easy payment plan. Terms of 20 per cent. down and two per cent. a month on principle are within the means of most wage-earners." ARVERNE BOARDWALK AIDS NEW PROJECTS $1,500,000 Building Contracts Let; More Under Way. As the forerunner to the construction of the Arverne boardwalk, the contract for whichwill be let on Aug.

1, more in new hotels, apartments and bathing pavilions will be constructed in Arverne within the next year, ready for official opening on the day the new ocean promenade is officially opened, Decoration Day, 1929. This was announced by Edward W. Stellges, president of the Arverne Board of Trade, and chairman of the Boardwalk Committee of the Chamber of Commerce of the Rockaways. Mr. Stellges.

president of the S. and Construction announced that his company plans to build a modern bathing pavilion on the ocean front, between Beach 67th and 68th comprising 5.000 bath houses and costing $425,000. The structure will have all the facilities of the most modern bathing pavilions, such as handball courts. gymnnasium showers, steam rooms and a solarium. A six-story apartment house is to be erected on Beach 69th near the ocean front, by Henry Prince.

owner of the Prince Hotel. The cost of the new apartments will be 000. "Several new hotels. all of six stories or more, are to be constructed on the ocean front in Arverne, within the neat year," Mr. Stellges declared.

Ho stated that -he was not privileged at this time to disclose the builders' names. "The next year will see a marked change along the ocean front in Arverne." he continued. the erection of the boardwalk property will become so valuable that owners will be forced to build modern hotels and apartment houses." Nathan Kohlreiter, member of the Arverne Real Estate Exchange, dedared that the announcement that contracts on the boardwalk construction would be let on Aug. 1 had already acted as an impetus. and that ocean frontage was at a premium at this carly stage.

MASSAPEQUA PARK BUYERS Brady, Cryan Colleran Report Sale of Many Lots. Brady, ('ryan Colleran, owners and developers of Massapequa Park, report a steady increase in the sale of business and homebuilding lots and plots to purchasers from practically all parts of Greater New York and Nassau County, L. with a sprinkling of buyers from New Jersey. Among recent purchasers are: Thomas Curran, Helen Curran, Peter Lambe, Kitty Higgins, E. Morgan, J.

Dollbaum, Catherine McNamara. David Cahill, 1. Korral, Richard Handibode, William Reisterer, S. De Nicola and' Anna Wecker. REAL -LONG ISLAND.

Mill Neck Estates (Oyster Bay, Long Island) Practically the ONLY COMMUNITY within easy commuting distance of New York City, with beach frontage of 2,000 feet and wooded hills and magnificent slews of surrounding country--with bathing, boating, sailing and fishing. The advantages of the seashore with Ita cooling breezes together with the dryer atmosphere of the uplands. Every owner has full water and beach rights with easy access. Pure sparkling drinking water from artesian well. Choice Homes 6 and 7 Rooms Artistically designed and honestly, constructed of best materials and PRICE 116,000 Fine Hill- Top Sites In locations affording splendid Mill Neck Estates in located at Bay ville Bridge, five minutes drive from Oyster Bay Station over the sente West Shore Drive.

Write for Folder, Mill Neck Estates, Inc. 90 JOHN STREET, NEW YORK CITY BUILDERS NEED AID OF RENTAL EXPERT Partridge Claims Agent's Knowledge Helps Design Rentable Apartments. Important considerations in the plans of the prospective apartment house builder should be the selection of a competent architect, as well as an experienced managing and renting agent familiar with the section in which the butlding is to be erected. According to Charles Partridge, president of the Charles Partridge Real Estate a for. tunate choice of these two factors frequently has assured the success of a new building long before ground has been broken for it.

Plan for Economy. "The larger bullders throughout the city follow this practice today," Mr. Partridge said. "They realize that present-day competition in apartment house construction necessitates the most skillful planning for the comfort of tenants and economy in the actual layout of the building. Many have learned this lesson from costly mistakes in the past.

"While we find the builders of the finest a apartment buildings bringing into consultation an architect of known qualifications, and his skilled real estate adviser, on the plans of his new house, too frequently the smaller builder errs. Often he makes up his own working plans. Then again he fails to seek the advice of the real estate broker who later must rent the suites. "Real estate men can advise what the demand in any particular neighborhood is. With such advice, a house could be rented from plans and proven a success from the start.

In other localities a builder might erect a house with smaller suite units when the demand is for those much larger. "The broker consultant with architect today makes sure that the proposed apartment building has incorporated all modern features designed to attract and bring comfort to the prospective tenant. "There are frequent instances where an agent's advice has saved elaborate and unnecessary installations, while at the same time his recommendations have RoDe far toward the economical use the building space, that each suite may offer the utmost in arrangement." 100 REALTORS TO GOLF Long Island Outing Set for August 3rd. Close to 100 members and guests of the Long Island Real Estate Board are expected to participate in the third board to annual be golf held at the tournament. South.

ward Ho Country Club, Bay Shore. L. on Friday, August 3, according to William J. Gilliland, chairman of the golf committee. of the the committee large num- will provide a number of suitable prizes to be presented to the winners.

Special prizes will be awarded to the guests. In addition to the golf facilities. the tennis courts, swimming pool; and other sport facilities of the club have been provided for those who do not play golf. The tournament will be followed a dinner at 7 o'clock in the evening. Serving the committee with Mr.

Gilliland are Clarence A. Edwards, of Freeport; C. G. Pennington, Assistant General Passenger Agent of the Long Island Railroad, and J. Lundgren, of Hewlett.

by named now under construction and 103rd Manhattan. modern architecture, is Co. An issue of been offered. at the The financed $1,925,000 in the Rockaways, who years ago hesitated In erecting two-famiy ron.es. Richard M.

Gipson, president of the c'hamber of Commerce of the Rockaways. in speaking about the of building activities, pointed! fact that the erertion houses 15 due to the inThe sun. mer at the to remain the comthroughout tho Jar. poopie are accustomed to house are rot I sirous of making a change. Aft muting for thr.

they the con lusion that travelto the city from. Rock is as as traveling on the rapid tranS In the city. and that they the expenses of a seaore home by residing here tie year. Tire are sufficient 4 100.5 In the Roc kaways anI the Call receIVe better a'tenthen, in addition to this. the fratern.l and social life of suburban coinmunity is entirely different than in 'he city." Mr.

Gipson predicted that with rapid transit, which said is on it.g W' 1 V. the Rockaways will manly tote apartment houses al.d that all the apartment houses will be filled as quickly as they are erected. FORM L. I. YACHT CLUB Realty Associates Assists New rick Group.

Announcement is made of the formation of the Merrick Yacht Club at Merrick. L. and at the first regular meeting the following officers nere elected: Commodore. Charles I. Glass: Vice- Commodore Hugh E.

Blades, -Commodore, F. J. Smith: Treasurer, George L. Lockwood. Financial Secretary.

John L. Farrington: Recording Secretary. R. A. Carreau: Board of Governors, R.

V. Androws. T. C. Chappell, David Lent.

and It. A. Kelly. A large attendance was present at the preliminary and regular meetIngs and it is expected the Club will start with a membership of 100, most of whom are residents of the Freeport- rrick Estates, developed by the Realty Associates, The has secured a large plot on Merrick Bay from Realty AssOelates, whose representatives have been instrumental in Its forination and plans are being drawn for the erection of a handsome clubhouse, which it is expected will be erected I before the end of the present season. the Sangor Hotel Corp.

Ground is to be broken "The Royal Pine." Cost is placed at $1,500,000. J. T. McKenzie of Sutphin Jamaica, offers the above home at a reasonable price. This Spanish villa, located in the Hill section of Queens, is one of many homes being sold by Mr.

McKenzie. This house is one of the many being sold by Kavanagh Feeley, 146-12 Jamaica Jamaica, I. I. There were 192 of these homes built and more than 170 of them were sold within a short period. They are located in a nice section of Bellaire.

The six room houses are including large sun porch being offered to the civil by the sellers. J. P. DAY AUCTIONS BROOKLYN PIECES Lists Local Property for Sale on July 31. all ually of 106 at.

1 properties of pro trally very in Manhattan. the Bront. Brooklyn, Queens 41.1 the Berg 14 Rn. Bridge zone of New Jersey. The sal.

wiil to hell Tuesday July 31st. at 12 o'clock noot, 111 1 Exchange 66 Viscy Manhattan. Brooklyn gA includes the apartment house at Washington Park. and at the northeast corner ave. and Carroll also three rightfannly dings at 673 to 677 Bedford ave.

Improved properties in Queens to he sold includ. the apartments 3413 to :41: Ninth Astoria: the dweiling garage at 8:28 163rd Hollis; the apartment building site at the south: ast corner of Broadway and Arad-my Long Island City and 15 lots on 85th between 246th and th sts, Bellerose Manor. The New Jersey offering is the dwelling and garage at 1045 Dearborn northwest corner of Bluff Palisade, Bergen County. Greenwich Gardens on the Boston Port at Sound Beach. is to be closed out through the medium of a liquidation auction sale to he held by Mr.

Day Saturday. Aug. 4th, at 2:30 P. M. on the premises.

Mr. Day's second auction sale of building sitey in the Long Island Sound waterfront section of Connecticut. will be held at Point Beach-on-Sound, near Milford. Conn on Saturday. Aug.

11th, at 2:30 I'. M. on the premises. There are 175 bungalows, resi. dential and business.

lots included in this sale, at which time the same auctioneer will sell, in addition to the lots, 11 model bungalows of five, six. sesen and eight rooms each, with garages, and all varying in architectural description. These ho1, 44 8 are to he sold with immediato DOssession if deatred and will be offered separately. RICKERSON SELLS HOUSE Charles E. Rickerson has sold 559 Carlton a 2-story and basement brownstone, for Mrs.

A. Moran, to a client. for occupancy, through the Multiple Listing Bureau. this fall and equipped with all improvements and standing shower. They are service employees to be financed NEW PINEWALD HOTEL TO COST $1,500,000 B.

W. Sangor Co. Backs Barnegat Bay Development. In connection with the opening of the now bridges from Staten Island to Now Jersey, it is interesting to tote the rapid development of resort cities along the New Jersey ho roast between New York and A'lanti (i'y, being located in the strafigto center of the most densely populated section of the United States, is in tremendous demand by week-enders. Realty values in this particular section are stabilized by virtue of the fart that there is a steadily increasing demand for propferty of this type.

One of the new. est developments. a 19,900 acre resort city located on the shares of Barnegat Bay, at Pinewald. N. was begun about three years ago by B.

W. Sangor and ('0. George A. Baker. general manager of the concern, recently stated that on account of the recreational features already developed in Pinewald, the demands for hotel accommodations were 80 great that the con pany had arranged to bulld a $1.500,000 structure.

He said, that in all probability, ground would be broken for the hotel site in the late fall of this year. The hotel is to be built by the Sangor Hotel Corp. and most of the capital stock has already been allotted to ount: end builders in Pinewald. The building is of the Spanish Renaissance type and is to he located on the shores of Crystal Lake, an artificial body of water close to new golf course. An interesting feature in connection with the building of the new hotel is the fact that B.

W. Bangor and Co. gave the residents and owners of P'inewald the opportunity to name the hotel and awarded prize of $200 In gold to the successful contestant. Mand A. Shoe.

maker, of New York CIty, who suggected the name 'The Royal It is snid that the hotel will not only be thoroughly equipped in the most modern and up-to-date manner. but will have recreational features that are revolutionary. The building of this hotel, the completion of Pinewald's golf course, the bathing pavilion and pier and the new polo field will fill long felt need in the most congested centre of the United States. FISHER FLATBUSH SALE. James B.

Fisher Co. reports the sale of property at 247 Lincoln a two-story and basement, brick and brownstone residence for Grace. K. McMilliah to Engene F. Coyle who will occupy the premises.

REAL ESTATE. D. D. STREETER Architect 217 Havemeyer Brooklyn, N.Y. REAL ESTATE--QUEENS.

$100 DOWN. 850 when you move in, buys new Jamaica Hillerest 6 Room and Sun Porch Colonial Home. Tile kitchen and bath. Parquetry. Large landscaped plot.

Steam heat, gas, electricity. Transit 2 blocks. PRICE, $6,150 Others--Same Terms. J. T.

McKENZIE "Deeds of 90-83 Sutphin Jamaica Open Daily -Sunday Phone Jamaica 2270 REAL ESTATE QUEENS. DETACHED SON DETACHED HOMES 7950 2 Security Village I CITY SEWERS No ASSESSMENTS 6 rooms and bath, stippled walls, double panels, Richardson Boynton steam heat, copper leaders and gutters, pedestal basin, 42-inch drainboard wink. Built-in P'embroke tub, tiled kitchen and bath. Quality white enamel gas range, breakfast nook, furnished: parquet floors, inlaid linoleum. plumbing throughout.

"Best Built House in Queens" Plot 22x100, House 18138-Compare! "ASK POPP, HE KNOWS" Direction--Take -M. T. Fulton St. line to Grant Ave. Station.

walk 2 7111 Jerome Woodhaven, L. 1., N. Y. blocks south to office, or Phone Applegate 2071 for Bus to Property. 90 SOLD.

THERE'S A REASON SOLID BRICK English Tudor Village PRICE $7,750 5c FARE B. M. T. Beautiful Homes Built on Large Plots--Driveways 6 large rooms, tile vestibule, tiled kitchen and bath, built-in tub, parquet floors, decorations to suit, solid concrete foundation, grass lawns and trees. Every modern improvement, including $500 Cash Sewers and Paved Streets (Positively No Assessments) Woodhaven Housing Corp.

BUILDERS 85th St. and Pitkin Ave. (Old South Road). Phone MIChigan 1302 Directions to Property: Take B. M.

T. Eulton St. Line to Boyd Ave. Station; walk south four blorks. Via L.

1. R. Penn Station, to -Ozone Park, Pr Atlantic Brooklyn, to Woodhaven: then phone for auto to property. By auto from N. via Queens Woodhaven Blvd.

to Old South Road: right four blocks. From Brooklyn, via Liberty Rockaway Crossbay to Old South Road, right four blocks to property. sale. 111 batning 10. GERMAN BUILDERS AMERICAN BROS invite you to inspect RICHMOND HILL HOMES to $7850 Williamsburgh Savings Bank Mortgage at 51 No Renewal Fees Long 2nd Mortgage With In the 5c Fare Zone Terms to Suit Your Income Christian Neighborhood FEATURES: floors: rooms, painted tile bath walls: steam built-in heat with tub and plenty of shower, radiation: sun tiled kitchen with builtwith parlor and nook, parquet in ironing board and tiled hearth and white enameled gas range; estra toilet, brass plumbing throughout, and up-to-date plumbing features, Copper gutters, leaders and flashings.

Elaborate electrical fixtures, including erystai domes and side lights, floor plugs, etc. Galvanized fence: washpoles: cold storage cellar, brick stoop, private driveway, sidewalks, curbs, trees, These houses are built of the best of material, heavy construction, beanie, 6x8 girders and 4a6 sills and corner posts, DIRECTION TO PROPERTY MAIN OFFICE AND FIELD OFFICE 20 Palmetto Street Fulton St. to Greenweed Statien, Walk South to Rockaway Bet. Line Bushwick to Gates and Broadway. walk -Block Boulevard 114th Auto, way to Palmetto Street, Backaway Boulevard to 114th St.

PHONE CLEVELAND 3772 PHONE FOXCROFT 6958.