This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
In the future, values in the Bronx will be just as large as they are downtown, and far larger in this section than they will be in other sections and other boroughs.
A sale was made on Tuesday, June 17, 1884 - portions of the Fox estate, directly on the line of the suburban rapid transit route. It appears that a suburban rapid transit route was laid out, which the Fox people never built.
This property lies along Westchester Avenue, beginning near the Prospect Avenue station, that is, right along the line of the subway to-day, and runs up to about the line of the Southern Boulevard, the Simpson Street station. At that time a large gore lot on Westchester Avenue and on Kelly Street sold for $200. My impression is that it sold for thirty per cent cash, the balance remaining on mortgage. The lots adjoining this corner - which is to-day worth, I should say, from $16,000 to $18,000 - sold for $180, running through from street to street, and for $115 apiece on Westchester Avenue. They are worth from $7,500 to $10,000 apiece to-day.
On Tiffany Street they sold for $150 apiece.
On the Southern Boulevard, between 167th Street and Holmes Street, they sold for $275 apiece.
On Simpson Street they sold for $170 apiece - quite a good price.
On Bristow and Jennings Streets they sold as high as $60 and $65 a lot, and the corner brought as much as $150. The average price realized at that auction sale was $100 or $110 or $115, and the average value of those lots to-day would be about $6,500 or $7,000 a lot. So that a man who invested $30 or $40 at this auction sale, and paid all taxes and assessments and interest on the mortgage, you will see, would be pretty well ahead of the game to-day.