Читать книгу All in a Life-time онлайн

51 страница из 133

Ehrich and I concluded to secure some property on this block. The first that we obtained was the lease of seven lots for which, at the beginning, we paid the annual rental of $4,000. We still own this leasehold, and the gross rental now is $44,500. We subsequently purchased the adjoining plot of five lots, improved the same, and were delighted when we were enabled to sell it to the Knickerbocker Real Estate Company among whose stockholders were Solomon Loeb, of Kuhn, Loeb & Company; Henry O. Havemeyer, John D. Crimmins, and John E. Parsons, at a price which netted us a profit of $100,000. This was in 1899. Subsequently, I repurchased this plot jointly with my partners, Lachman & Goldsmith, for $250,000, and within two years thereafter sold it to Mr. Louis M. Blumstein for $425,000. This was the most profitable, but not the only transaction we had on this street. With various associates I owned, at one time or another, one half of the property on the south side of that block, so that I made good use of my early judgment as to its future value.