Spencer Heath Archive

Item 1462

Carbon of a letter from Heath to Clarke G. Dailey, 25 Broad Street, New York City, regarding “The Romance of Realty” manuscript.

June 15, 1950

Dear Mr. Dailey:

     Quite a long time ago I had some talk with you con­cerning the future progress and development of New York City through organization of its realty owners — its real owners — and unification of their interests on a regional, or even a city-wide basis and plan.

     What we had in view was the assembling of titles and equities under a corporate or similar business organiza­tion of the owners in order to provide common advantages and services (beyond mere housing), beneficial to their whole property or region.

     In our talk there was hardly any question of the great advantages to the owners, or of the great possibi­lities of profit inherent in such regional organization, if it could be brought about, but there was much remark upon the seemingly insurmountable obstacles and difficul­ties that have beset all previous efforts in that direction and would have to be overcome in any future attempt.

     Since that time, with the aid of Mr. Asher Brynes, formerly with the Institute of Advanced Studies at Princeton, Mr. Brynes and I have prepared in narrative, and we hope interesting, form a picture of the probable circumstances through which these very serious obstacles per­haps soon may be, as they eventually must be, overcome.

     This narrative is one section of a book which is shortly to go to press. May we send this portion of it to you for your comment, in the light of your extensive experience in the field of real estate?

Very truly yours,