1675-24 Flamingo Hotel ,.. . \
_,
, - 1011-
: :: 7- •
•
May I1th, 1921.
Mr. i aan B. KE3n aw'Lll, -
830 \Fait. Avenue,
' Mew York City.
Dear Mr. Kendall s •
•{
1 am asks M'. Krom, whom. you will remember :►.s _tha Manager
' of the Flamingo, to drop in and see you and sees if you (cannot advise -
of sore one or riore men whom you think might be.interested. in the
pnirchasa of the Flamingo at 717,GO0.GC less than it roost to build '
it, and the hotel ,rounds on whIeh it is! standin .. '
In other words - I have 1,367,881.0& in the construction
of.the Hotel, Cott.;. es, tennis eonrts, irmociiate roads,. oto. There
are a,pproxix telt' 1150 feet of water frontage - and this particular
property is located so that At is 1000 feet deep east and .goat. --.7o
have sold over a hundred thousand dollars worth of water front property -
adjoining the Hotel at the value of n300 a foot whore the depth of the
property is only 'C0 feet - so that in planing a Valuation of X5:0,,000
on the piece of F.round on which the Motel stands, no are placing a lower
valuation on thy: property that the: ether xroh,erty on both sides of the
.Motel. will sell. for.
I have not boon arooessful in floating a new Bond Issue On .
the Hotel. At the present time I have a ;350,000.00 pond Issue on
same, but I = going to have to rakO sono big sacrifices soon to
complete g work there,' and. I don't want this iotol to fall into
the hands of Jews, chat is is-wkor 1 am asking Mr. Krom to drop in
and see you, thinking that you might know someone who would want to
make such an investment.
• . , This past season' the Flamingo earned 4121,000.00 not. It `
•
is booked up almost to capacity now for next season, and undoubtedly
we will again turn away thousands of people this next year. Mr. Krom
tolls me that the earnings next year. should be hotter than .h 140,000.00.
He is anxious for me to add forty or fifty rooms in ani annex, which
would very €~reatly increase the roeeipts without r.atorialiy raking
. any differonae in the overhead.
I am in hopes you ray have 'soveone in rind who might be
interested in this investment. Mr. Krom is thoroly"`capable of
• handling the. Hotel and giving sllendid retu�ha.
Yours vary truly,
4 s