The Brooklyn Daily Eagle from Brooklyn, New York • Page 50

2 BROOKLYN DAILY EAGLE, NEW YORK, SUNDAY, MAY 10, 1931. Garage Cases Wlierc There Is Active Home Buying Brooklyn Real Estate Board mm Telephone Triangle S18S Pays to Do Business With a Realtor LOCAL REALTOR, A MEMBER BROOKLYN REAL ESTATE IS PLEDGED TO GIVE LOYAL TO HIS CLIENTS. IT COSTS TO EMPLOY HIM AND HE WITH HIM A BACKGROUND RECOGNIZED ABILITY. EXPERI-ENCE AND KNOWLEDGE. MORE' A REALTOR'S CODE OF REQUIRES THAT HE GIVE ADVICE TO HIS CLIENTS.

YOU BUY, RENT OR SELI A REALTOR, BROOKLYN ONLY MEMBERS OF BROOKLYN REAL ESTATE HAVE THE RIGHT TO USE REALTOR. i the Nelson Hansen Bungalow Homes at West Hempstead. In Realty Associates Colony, Merrick, L. I. 66 Court Straal Kmu) Them by Thi Sign aJCI.LO ROSATO 142 Montagu St.

il.roBD REAL ESTATE Inn. 1438 Notrni Ar. FLatbuih 1-8607, 5608. 33SS. STEPHEN F.

BAKRERA IM16 Surf Coney HI and. bafea oixon I3i Remaea St. TRIanglt 9-8630-1. M. BENNETT SON 448 Dean St.

BCLKLET HORTON CO. S9 Lafayatta Av, Brooklyn. S89 Noetraod Brooklyn. 6909 Fourtb Brooklyn. 1214 Platbusb Brooklyn.

160-09 Jamaica Jamaica. 67 Lafayette Av B'klyn tin. Dept.) I. D. H.

BERGEN A) SON 63 Lafayette Av- NEvlai 1-3900. LOI BEER'S SONS 166 Montajue 8U Tel MAln 4-7500. EDWARD BULL REALTT CO. 31 10 Cortelyou R4. Buckm muter 1100-1 CART, HARMON COMPANY, Ina.

146 Montague St. CHAUNCE REAL ESTATE. CO. 149 Pierrapont St. NOAR CLARK, Robt.

8. Patterson, President, 837 Manhattan Av. COLONIAL COMPANY, Ine. 377 Bay Hldje Av. Atlantic 149.

B. E. ESTERBROOK 1463 Fulton St. THOMAS R. FARRELL CO.

234 FtatDUIh AV. EDWARD J. GATNOR 44 Court Bt. JAMES H. GILVARRT 261 Court 184 7th Av.

C. J. S. GRANT 189 Montague Sc. FERDINAND HARMS, Ine.

2842 Church Av. FLatbuah 2-8020. HAVILAND SONS, Ine. 9aa Fulton St. ERNEST M.

HOLL1STER 2200 Church Av. FUtbush 2-2800. F. O. INOWARSON CO.

8726 Fifth Av. and 809 82d St GEO. H. JONES 839 Sterling PI. PRospect 9-6240.

JOHN P. JAMES SONS 193 Montague St. KEI.SET WALTER 147 Broadway. PLEDGED TO A It YOUR OF THE BOARD, SERVICE NO MORE BRINGS OF OVER, ETHICS TRUTHFUL WHEN CONSULT IN THE BOARD THE TITLE Increasing Budget Is Bearing Heavily On Real Estate Mounting Cost of City Government Should He Matter of Serious Concern to Property Owners, Small and Large, Declares R. W.

Phillips Discussing the problems ol taxation and the amount of it that is paid by the owner of real estate, Robert W. Phillips of L. J. Phillips Co. says that in times of prosperity, when real estate is paying handsomely, too little thought Is given to the matter of taxes; but Row of Dwellings Built by J.

E. Ba Women Realtors Discuss Long Island Sales Systems taxes; and the burden of taxes is being felt more and more keenly as many owners find their Incomes reduced through the decline that rentals have undergone. "The city must, first, reduce the cost of the operation of its government; and, secondly, find some other major source of revenue than real estate taxes. The answer lies not in a sales tax, or some other form of consumers tax, but in making self-supporting those large public improvements which have been undertaken by the city. Such Improvements should take care of the debt which has been occasioned by their construction as to interest, and amortize their cost over the period of the life of that particular improvement.

"The subways have been a source of great cost to the city, and should be self-supporting, but other improvements as well, which afford great convenience to the public, such as speedways, tunnels and bridges that aid transportation, should bear their share of the burden that has been saddled upon the city by reason of their construction. "Therein lies a partial answer to the tax problem which is assuming an increasing Importance i greater liability to the real estate owner." Realty Brokers to Compete For E. J. Grant Golf Trophy To Be Heard by Appeals Board JVenty-five in One Colony to Be Considered at Public Hearing The Board of Standards and Appeals will hold a public hearing under the provisions of the building rone resolution on May 11, in Room 1013, Municipal Building. Manhattan.

The -following matters will be considered: Application of McCooey Conroy, applicants, on behalf of G. X. Matthews Company, owner, to permit In a residence district the erection and maintenance of a colony of 25 one-story garages; premises 1868 Woodbine street, east side, 213 feet south of Woodward Ridge-Wood, Queens. Application of Madeline Jacobt, applicant, on behalf of the Cord Meyer Co, owner, to permit In a residence district the maintenance of a garage for the storage of one pleasure motor vehicle which Is not an accessory to a dwelling on the same lot; premises southwest corner of 94th St. (Vandine St.) and 41st Road (Case Elmhurst, Queens.

Application of Ferdinand Savig-rtano, applicant, on behalf of Meg-Urditch Dllloian. owner, to permit In a residence and area district the erection and maintenance of a building occupying more than 80 percent of the area of a corner lot at the curb level; premises 7224 11th northwest corner of 73d Brooklyn. Application of Abraham Farber, applicant, on behalf of Lida C. Morris, owner, to permit in a residence district the alteration and change of occupancy. In part, of a garage for the storage of more than five motor vehicles to stores for business use; premises 1990-2003 Bedford Ave.

and 509-525 Parkside northeast corner, Brooklyn. Application of McCooey fe Conroy, applicants, on behalf of Men-real Corporation, owner, to permit In a residence district the conversion of occupancy of a building occupied as a Masonic temple to a business use (lodge rooms and public dance halls); premises 5001 14th southwest corner of 50th Brooklyn. Renew Campaign For 6th Ave. Subway The 18-months' delay which has been found necessary in constructing the proposed subway In 6th south of 53d has brought renewed activity on the part of the First Avenue Association in behalf of building the 2d Ave. subway.

For three years past the First Avenue group has been advocating construction of a subway In 2d Ave. so that the might be dismantled and their latest move, according to William W. Hoppin, president of the association, is an effort to have the city utilize in the 2d Ave. subway work the money which it had planned to expend in connection with the 6th Ave. line.

To Address Builders At Luncheon Meeting Senator Robert F. Wagner will address the Building Congress on "Unemployment Industry's Responsibility" at the Hotel Commodore at noon Tuesday. Robert D. Kohn will preside and give a brief summary of Building Congress activities over the past ten years. R.

H. Shreve will report for the nominating committee; election of officers will follow. CONEY ISLAM) TRANSFORMED Continued from rage 1 commodate anywhere from 80 to 125 families. Sea Gate Unchanged Sea Gate alone of all the developments at Coney Island has remained unchanged. It looks about the same as it did 20 years ago, with its many handsome frame and brick dwellings set in spacious plots attractively landscaped, alons wide streets shaded by large trees, carefully maintained and wisely restricted against invasion of large apartment houses, amusement cente rs and business.

The restrictions set up by the Sea Gate Association, whose members are the property owners, have been the object of constant attack. Battle after battle has been fought in the courts and at the meetings of the association to maintain the restrictions and strengthen the ex-tiusiveness of the colony. It has been called the "high hat" neighborhood of Coney Island, and it will remain in that catagory while Cornells Callaghan is president of the association and Joseph Price is manager of the real estate department, residents say. Once Summer Colony Established at the beginning as a Summer colony around the famous Atlantic Yacht Club, whose members desired to live near the club In the warm season of the year. Sea Gate has in the past decade or so prominent New Yorkers.

So far large apartment houses have been barred from the colony. How Ion? this will contiuue is a matter of ipeculation. There is a plan under vay to develop a sort of "Pomander Walk" colony of attached houses aiong the eastern end of the properly and that is the first conces sion so iar to tne modern "diock pian" of development with garages at the rear of the one-family houses. Sea Gate is situated at the southernmost point of the borough, on a Mrlp of land projecting out into lower Ne York Bay. with the Atlantic Ocean in one side and Graves-end Bay on the other.

Norton's Point lighthouse, a beacon guiding the ships that puss this gate to the tea, is an old landmark of the property. In atea Sea Gate is approximately 150 acres, and the only meaas of entry to the grounds other than by water, is through the gate On Surf Ave. A police lodge com-Inands this entrance, at which at-Wudants are on day and niht. when the pace of business slows down or is depressed, at such times the owner of real estate must husband his property in order to receive a satisfactory return, and the amount of tax he must pay becomes an item of very real concern. "New York City, like many other cities," he says, "has been going through a period of great development of its public works of all kinds.

This has been accompanied by an enormous Increase in its budget and operating expenses "A few figures Illustrate this: The City Controller's report shows that in 1908 the cost of running the city government was in 1930 it was about $565,000,000, and the budget for 1931 is about "A growth of 43 percent in .25 years in the cost of city government operation is occasion for grave concern. "In the period of 1910 to 1930, the population of New York City Increased according to Federal census from 4,766.883 to 6,959,195, or about 46 percent; and the cost of running the government in that period increased from $163,128,270.37 to or an increase of 246 percent. In other words, the cost of the city government was nearly three and one-half times as great in 1930 as in 1910, while the population increased less than 50 percent in the same period. "The city is limited by law to a borrowing capacity of 10 percent of the assessed value of its taxable real estate. This has occasioned some concern of late, and although some subway bonds have been legally exempted, the borrowing capacity beyond the city's present debt is decidedly limited.

It has been a natural temptation for the city to try to increase its', borrowing capacity by keeping its assessed valuations as high as possible. The exact method used by the deputy tax assessors in arriving at their values is not definitely known, but they have unquestionably been influenced by sales and mortgages made in a boom period that do not represent true values. In any event a great deal of real estate is today considerably overassessed. Illustrative of this: a recently printed list of properties offered for sale by an institution in this city contained the asking prices and assessed valuations of eight parcels. The total of the asking prices for these parcels was $499,500 and they were assessed for tax purposes at $617,500, more than 23 percent or in excess of asking prices.

"This tax condition will not continue indefinitely. More and more owners are going to court in cer tlorarl proceedings for reduction of WILLIAM KOLB 21S Montague St TRIangle 5-3150 HESTER A. LeFETRA 167 Concord St TRlengle 8-8250 HARRY A. LEV INE 33 Court St TRIangle S-4282. BARRY M.

LEWIS 189 Montague St EDWARD LYONS. Ine. 531 Noetrand Av. LAfayetle 3-3000. JOHN MATTIA 250 Hamilton Av.

6-874S. M. C. O'BRIEN, Ine. 798 Noatrand Av.

Branch: 1184 Flatbuih Av. OHVEWAI.D DENLINGER 1498 Platbuab Av. MAnafield 6-1937. CHARLES PARTRIDGE REAL ESTATR 389 Flatbuih opp. 6th Av.

FREDERICK J. PEACOCK 103 Lawrence Bt. TRIangle DAVID PORTER. Ine. 32 Court 6t LEWIS H.

POUNDS 32 Court St POWELL REAL ESTATE COMPANY 130 Flatbush Av. KEvlna 8-1000. JOHN PULLMAN REAL ESTATE CO. Ine. 741 Dnlon St.

Tel. SOuth 8-0649. JOHN REIS COMPANY BOS Flatbush Av. CHARLES E. RICKERSON 275 Flatbuab cor.

St Mark RI1STIN a) BOBBINS 189 Montague St. TRIangle 5-3720. F. O. SACTER AOENCY, lne 431 Fifth AV.

SOutb 8-0257. HENRY 8CHENK 275-77 Grand Av. PRospect 9-1752. CLARENCE B. SMITH CO.

1424 Fulton St LAfayette 3-0661. NATHAN STERN 1122 Broadway. FOxcroft 9-1480. TIMM BEIIRENS 190 Montague St. TRIangle 5-3040.

THE TYLER-WARREN CO. 1183 Fulton St STerling 3-800O. LEONARD N. VAIIGHAN 909 Fulton Bt PRospect 9-6027. WESTWOOD REALTY COMPANY 636 Flatbush Av.

FLatbush 2-4030. LOUIS L. YEARSLET 155 Seventh Av. NEvlns ('-5115-3116. GREATER BROOKLYN wins It three times.

Other prizes will Include low gross and low net for members; low gross and low net for guests, and first and second prizes for players who have no club handicaps. Clifford G. Roessle, chairman of the Board's Golf Committee, is arranging the tournament. He is being assisted by Hy Agnr, Howard Burdlck, Eugene J. Grant, John E.

Henry, Melville A. Kelscy, George. P. Maglone. William O'Brien and Robert Ward, years, but also to provide a center for health and recreation.

"From the property owners' point of view, the park will immediately bring about the construction of a group of high class apartment houses near by, which In turn will help the movement for a better class of homes and buildings in this srea. "The selection of a proper site for this park should be left to Pnrk Commissioner James J. Brownp, Controller Berry and other members of the city administration. It has been suggested, however, the vicinity of McKlbben Siegel Moore Varet Cook and Graham Ave, Humboldt Bush-wlck would prove desirable from every angle. "Buildings in this sector are old and dilapidated many of them shacks and could be obtained for around the assessed valuations.

It taps on a very highly congested neighborhood with no park facilities of any kind and the benefit would thus accrue to neighboring tenants and landlords alike. "Broadway, Manhattan Graham Ave. were at one time centers of considerable retail, activity specializing In men's and women's clothing, furs, furniture and jewelry. The business activities of these streets have declined year after year following the decline in realty values and population. The Greater New York Taxpayers' Association feels that with the inauguration of a bus system to provide rapid transportation from nearby areas a re-vival of business prosperity for these streets could be begun If merchants will follow the progressive methods of the Manhattan and downtown stores In advertising their wares.

"A campaign has also been begun to have cleaner streets In which the Department of Sanitation has agreed to co-operate to the utmost." TALK TO REALTORS Bruce R. Duncan, borough attorney, will speak on "Legal Pitfalls Facing Real Estate BrokcVs and Salesmen" before the members of the Brooklyn Real Estate Board and their guests at a lecture meeting to be held in the Brooklyn Edison Building on Monday night, May 11. Mr. Duncan, who is counsel to the board, will discus common mistakes which lead rpal estate men into legal difficulties. Frank M.

Ledwith. chairman nf thn educational committee, will preside. ine meeting on Monday night will be the last of a serlex nf wViir-h have been sponsored by the Brook lyn ooard during the Winter and Spring months. FI LTOV ST. LEASE The store at 519 Fnltnn st west corner Dtiffleld formerly occupied by Schulte Cigar Storrs has been rented to the Super Knitwear Products which will occupy the premises as soon as alterations are completed.

Henry Oilligan ft: Co. were the brokers in the transaction. One of Central Zone Skyscrapers Cost Vast Sums About $200,000,000 Spent for 35 Buildings in Past Seven Years Thirty-five buildings representing Innilnunt nf nngrltt 2nfl 000." 911 llllCdVll'VIIV inn AAA uuu ana aggregating ju.wu.w omii. feet 240 acres of net rentable area have been erected in the Grand Central Zone during the six years. "The one," as It is commonly called by the multitude of office workers who throng its huge buildings, has been the scene of the most stupendous program of skyscraper construction any city has ever witnessed, according to Austin J.

Carson. "Illustrating the magnitude of the i last six years' operations," he said, "if the architects for the 35 structures erected in this area Bince May, 1925, had designed, instead, a castle-ln-the-air for a plot 100 by 100 feet square, with 8,000 square feet of rentable space per floor, they would have had a tower of 1,300 stories and 14,300 feet nearly three miles in height. "Thus far in 1931 only two office building operations have been undertaken in the Zone. The first is being erected at 304 Madison Ave. Th second, on the site of the old Belmont Hotel, is now in the demolition stage.

It has been frequently reported that a tall office building will rise on the site now occupied by the National City Bank at 42d St. and Madison but the reports have not been confirmed to date. "Builders in the Grand Central Zone have certainly earned a said Mr. Carson, "and perhaps it will be just as well if they take one. Although our figures indicate that the percentage of vacancy in this section is not excessive from the standpoint of the owners of buildings that are soundly financed, It is, nevertheless, true that during the last few years new space has been created at a rate 6lightly above the rate of absorption." Active Market In Home Colony At I.

New Group Started in Response to Demand, Builders Say Another group of homes is under way in the Realty Associates in the development at Freeport-Merrick, Merrick, L. The houses have six rooms and are modern in every respect. The plot of each house is 40x100. A sample house at the corner of Merrick Road and Beach Drive will be formally opened for Inspection today. These houses are being built in response to many requests made by visitors who liked the garden cottages but who required an extra bedroom or a larger dining room.

The design is such that either use may be made of the extra room. Seventy five-room houses are be ing constructed, most of which have been sold. All of the completed houses are now occupied by purchasers. "The activity during the past two months has resulted in the leasing of four vacant stores on Merrick Road," according to one of the officers of the building firm. NEW KINGS Among the new apartment houses under way in the Kings Highway section of Flatbush is the Strath-more, shown above and located at the northeast corner of Ocean Ave.

and Avenue being built by the 2345 Ocean Avenue Corporation, of The quarterly meeting of the Women Realtors Division of the Long Island Real Estate Board was held recently at the board headquarters at Jamaica, L. I. Tea was served to the members who were present. Miss Frances Mantel, realtor of Garden City, acted as chairman. The meeting Was opened with a frank discussion of office methods and systems.

It was the consensus that the next meeting should be devoted to the question of methods of presenting properties for sale. Home Owners Steadily Gain, Titles Show Henry J. Davenport Finds Increasing Taxpayers Sign of Brooklyn Growth Henry J. Davenport, president of the Home Title Insurance Company, commenting on the increasing home ownership on Long Island and other suburban centers, stressed the values of civic interest that arise from the position of the family head who is a taxpayer in his community, and also the fact that present construc tion costs enable the man who de sires to buy a home to do so very judiciously at the present time his exact words being: "Home buyers seeking their money's worth can get it in the present Spring market." Referring to the fact that much money is not essential to home buying these days in view of the sup ply of moderate priced homes avail able in surrounding suburbs, Mr. Daveport stated: Most of the home buyers Insuring their fee titles with us are persons whose incomes average less than $5,000 per.

year, and of course all tf them are the heads of families, which seems to Indicate that bright spots exist in the contemporary market. The constant activity resulting from present subway construction and other public works in the vicinity of New York City has been feeding quite a numerical portion of our populace, di- rectly or indirectly. The fact that i many skilled workers have been able to deposit payments of thousands of dollars on their new homes seems to me a refreshing sign of business optimism, if not of business sanity." The statement was made that fee title business has increased nearly 50 percent during the past few weeks, and inquiries are received from brokers and attorneys new to the Home Title, In addition to those io the company in the course of its 25-year experience in this highly specialized field. JOINS MORTGAGE FIRM E. M.

Fritchman for many years a real estate broker in the Flat-bush district, has been made loan officer of the Kines County Capital Corporation. Recently the organization enlarged its office in the Kings Highway Bank Building to take care of increasing business. stress in E. 49th Brooklyn William E. Herren supplemented this discussion by making a few brief remarks on the value of giving more service and better service than any other office in the section.

Mr. Herren also outlined the purpose and tenative plans for organizing the property owners division. He stated: "What property owner when he looks at his tax receipt is not interested in securing relief from the Inequitable distribution of the tax burden? The very methods of tax valuation in most cities are antiquated and unbusinesslike." Home Colony Built on Old Queens Farm Community of 500 Peo pie Live in Thriving i i Development Milton Sirkin, president of the Island Housing Corporation, announced early this week that 131 homes, valued at more than have been sold at Jackson Homes colony, in- Queens. These sales are for a three-month period, he stated. "Perhaps the most interesting way to visualize what these sales mean is to point out that in a quarter-year period there has grown a community of more than 500 people upon what was once vacant land, most of It farms," he declared.

"But what Is more important. I believe, is that these 131 family groups are now home owners and permanent residents of a home community, whereas they were formerly but rent payers. And when a man becomes a buyer of a home he becomes a good citizen, in that he is ready to protect and Improve the standards of his neighborhood to safeguard the advantages that home life can bring to his family. "He will take, first of all. a natural pride In his home, because it is his own property.

The average man only can afford to invest in one home in a lifetime and his pride in its possession is but natural. If he is living in a development in which all the homes are new, he is constantly inspired to keep his house and lot as neat in appearance as those adjoining it. "Therefore, Mr. Homeowner finds his interests are broadening. As a rent payer his interests were few beyond the door of his apartment.

Now he realizes the value of a good neighborhood in relation to his own home, and his own responsibility in keeping up the standards of his community. Beyond this he becomes conscious of civic affairs and their effect on his home life." BRIARCLIFF DEAL William J. Yates has sold for the Briarcliff Realty Company a tract of land containing approximately 15 acres, on the Old Chappaqua Road at Briarcliff Manor, N. Y. The property is high, rolling land, beautifully wooded, and is within a short distance of the New Bronx Parkway extension recently opened for travel.

hattan in order to be in touch with both the Brooklyn and New Jersey developments. He has been succeeded as president of the corporation by his son, Edgar R. Bastress, who has been for years a successful builder in Central Pennsylvania, where he has established a large and efficient organization. To his other activities E. R.

Bastress has now added the direction of the operations of the J. E. Bastress to which duties he brings a wealth of knowledge gained from his own experience. Joined with the successful ideas of his father and the experience of his father's organization the combination is making wonderful progress in giving the public modern well-built homes at moderate prices. The Brooklyn Real Estate Board's annual Spring golf tournament and dinner will be held at the Mllburn Country Club, Baldwin, L.

on May 14. The mam ieature oi ins tournament this year will be the competition for a leg on the Eugene J. Grant Trophy, offered to the broker member who turns In the lowest net score. Legs on the trophy are now held by William G. O'Brien and John E.

Henry. The prize will be finally awarded to the player who CLEAR SLUMS OF WILLIAMSBURG Continued from Page 1 ment houses In order to attract high-class residential community. "The Greater New' York Tax payers' Association, has 8,000 enrolled members throughout the city, 2,500 of whom own property In Brooklyn, mainly in Williamsburg. the Eastern District, Brownsville and East New York. To aid in the campaign for better real estate conditions, the organization has given over the entire building at 754 Flushing Ave.

for use of the Brooklyn members. The Manhattan office is located at 31 Union Square West and a Bronx office Is maintained at 344 E. 149th St. "The activities of the Taxpayers' Association are under the direction of Ignaz Reich, the president, and Isidore Berger, general manager. The Brooklyn office will be directed by Isaac Goldberg, vice president of the organization.

"The first move In the campaign for a better Williamsburg was begun on Thursday night, when a large number of property owners attended a mass meeting held at the Lorraine Hall, 790 Broadway, near Sumner at which Borough President Henry Hesterberg, and President of the Board of Taxes and Assessments James J. Sexton and the local aldermen, spoke. "Property owners In the Williams burg and the Eastern District sections have seen values declining for years, with the more prosperous inhabitants moving out to the newei developments near Eastern Parkway and Flatbush. Up to the present. there has been no serious attempt to stop tne decline and bring about a better condition.

'With the new independent sub way cutting through this ansa. bringing excellent transit facilities to the very door of this section, and with bus operation by the B. M. T. a possibility for the immediate future, a feeling has spread among the lndowners of Williamsburg that a change for the better is imminent.

'The first goal in the campaign. Is the construction of a public park, at least four blocks square in Williamsburg, as part of the city administration's $30,000,000 program of new parks and playgrounds. The present plans of the city call for four playgrounds In Williamsburg, each about a square block in size, scattered in the area, and not a mile anart from each other. "The Grcter New York Taxpayers' Association feels that this program will not prove of as much benefit to this congested section, as would a centrally located park, about four blocks square In size, with playground facilities. With the cost ap proximately the same, it is considered thit the construction of a park will go a long way not only to beautify a section that has been pcglected by city authorities' for Higher Values On Fire Island, Deal Reveals Traet Sold at Beach Covers 1,500 Feet Adjoins Hotel Property The first purchase of a tract of ocean front on Fire Island Beach that has happened in more than two years has been made by D.

F. Hamilton and F. Lester-Smith. It comprises a parcel fronting 600 feet on the broad Atlantic and extending approximately 1,500 feet across the beach to a deep and wide part of Great South Bay on which it also fronts 600 feet. The land adjoins directly the easterly property line of the longtime hotel and cottage colony known as Point of Woods, and it is close to the historic spot where the merchant ship Elizabeth ran on a bar in a heavy storm and was wrecked before daylight on July 16, 1850.Mar-garet Fuller, a famous authoress, was a passenger and was drowned.

A memorial to her has been erected on the beach. The significant thing about the ocean front tract just purchased is that it shows $33 more a front foot over the last highest price per front foot on Fire Island Beach for similar property three years ago. struction are being installed in the building, and a spacious lobby is one of the outstanding features. Npnrby are schools, shopping streets, churches and transit accommodations. The suites in the building consist of 1, 2, 3, 4 and rooms.

HIGHWAY APARTMENT HOUSE Old Flathush Building Firm Returns to Brooklyn Field -WS riilSllIiSilill Hi IMF I lifer J. E. Bastress buildrrs, who were instrumental in developing a large portion of Flatbush Manor, have returned to Brooklyn after maintaining offices in Manhattan for the past few years. Although J. E.

Bastrcss, who was the founder of the firm and well known in the Brooklyn realty field. died in 1929, the business is being carried on by his estate in line with the general plans which made him 60 successful. He was one of the i first builders to meet the require- ments of the man of moderate i means, and erected several hundred one-family houses in Woodhaven. L. and Flatbush.

Just prior to his death he acquired extensive i holdings in New Jersey, and at that time the offices were moved to Man lill ti-lililli'illti-rilliltfifcii Ml.i yr i iMfl -niMTfT(W which J. Tropp Is president. The building is entirely detached on three sides, affording ample light and air to the tenants, and is modern In every respect. All of the newest feature- and equipment known to apartment house con.