Florida Realty

In current talk during the fall and winter about the speculative profits derived from the stock market by Messrs. Durant, Livermore, et al,, some of the extraordinary profits obtained recently in Florida realty have been largely overlooked. Florida has apparently replaced California as the seventh heaven of the "realtor."

About five years ago, Samuel Untermyer, famed lawyer and capitalist, purchased a 32-acre tract at Palm Beach for $75,000. Critics at the time declared the price excessively high. Lawyer Untermyer held on till recently, when he vindicated his judgment by selling out his ocean-front property for $775,000--a profit of nearly 1,000% or so.

The buyer, Mark Raffalsky, was in turn a subject of commiseration until it was learned that, after holding the property only a month, he in turn sold it at auction for $1,409,378.60--or an advance of about 1,800%.