A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from September 06, 2019
“Buy on the fringe and wait. Buy land near a growing city!”

German–American businessman John Jacob Astor (1763-1848) was one of the wealthiest Americans. According to the Racine (WI) Daily Journal (and other newspapers) on January 16, 1897, he advised his eldest son, William Backhouse Astor:

“Put all your spare money in property just outside the city limits. In time the city will grow up to it. Always buy corner property and never sell corner property. Don’t bother with railroads or other stocks. Just stick to New York city. Don’t buy land anywhere else.”

“‘Buy land near great cities,’ said John Jacob Astor” was printed in the Philadelphia (PA) Inquirer on March 5, 1905. “Buy at the fringe and wait” was printed in the Springfield (MA) Daily Republican on May 26, 1906. “Buy land near a growing city” was printed in the Camden (NJ) Daily Courier on November 26, 1906.

“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell” was printed in the Tampa (FL) Daily Times on March 10, 1947. “‘Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!’ ~ John Jacob Astor” was posted on Facebook on April 16, 2015.

John Jacob Astor’s actual words are not known with any kind of certainty.


Wikipedia: John Jacob Astor
John Jacob Astor (born Johann Jakob Astor; July 17, 1763 – March 29, 1848) was a German–American businessman, merchant, real estate mogul and investor who mainly made his fortune in fur trade and by investing in real estate in or around New York City.

Newspapers.com
16 January 1897, Racine (WI) Daily Journal, pg. 6, col. 1:
WILLIAM WALDORF ASTOR
(...)
Before old John Jacob Astor the First died he laid down certain maxims of a wealth building kind, for the benefit of future generations of his family. This wonderful man, with rare judgment that seemed almost inspiration, had from the days when New York was scarcely more than a village, foreseen its ultimate growth.

To his eldest son, William Backhouse Astor, he said: “Put all your spare money in property just outside the city limits. In time the city will grow up to it. Always buy corner property and never sell corner property. Don’t bother with railroads or other stocks. Just stick to New York city. Don’t buy land anywhere else.”

6 February 1905, Sydney (Australia) Morning Herald, pg. 9, col. 6 classified ad:
THERE is only one sure way to get rich—that is to buy land near a growing city and hang on to it. --
Andrew Carnegie
(Arthur Rickard and Co.—ed.)

5 March 1905, Philadelphia (PA) Inquirer, second sec., pg. 7, col. 3 classified ad:
“"BUY LAND NEAR GREAT CITIES,” SAID John Jacob Astor.
(Atlantic Suburbs Co.—ed.)

21 January 1906, Philadelphia (PA) Inquirer, second sec., pg. 7, col. 8 ad:
John Jacob Astor said, “Buy land near the great cities.”
(Atlantic City Estate Co.—ed.)

26 May 1906, Springfield (MA) Daily Republican, pg. 7, col. 6 ad:
“BUY AT THE FRINGE AND WAIT”
was old John Jacob Astor’s motto—you know the result.
(John W. Crane Co.—ed.)

26 November 1906, Camden (NJ) Daily Courier, pg. 8, col. 5 ad:
BUY LAND NEAR A GROWING CITY
(Advice of John Jacob Astor)
HOME BUILDERS COMPANY

20 October 1906, Scranton (PA) Times, pg. 15, col. 5 ad:
John Jacob Astor said: “Buy at the fringe and wait.” He knew.
(W. M. Ostrander, Inc.—ed.)

Google Books
A Million Dollar Secret
By Walt Clyde
Detroit, MI: Walter Schulte Company
1927
Pg. 7:
John Jacob Astor said:
“Buy land near a growing city.”

Google Books
Selling Real Estate
By Clark Timmins
New York, NY: D. Appleton
1927
Pg. 23:
Buy land near a growing city.—John Jacob Astor.

10 March 1947, Tampa (FL) Daily Times, pg. 12, col. 1 ad:
Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell.
(John White.—ed.)

27 February 1948, Roseburg (OR) , pg. 2, col. 7 ad:
John Jacob Astor said:
“Buy on the fringe...Buy land near a growing city! Buy when other people want to sell.”
(Roseburg Realty Co.—ed.)

7 March 1951, Tacoma (WA) News-Tribune, pg. 25, col. 3 ad:
Said John Jacob Astor: “Buy real estate when other people want to sell it. HOLD WHAT YOU BUY!”
(Tacoma Real Estate Board.—ed.)

Facebook
Keller Williams San Diego Metro
April 16, 2015 ·
“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!”
~ John Jacob Astor

Facebook
Brokers Real Estate, Inc.
August 9, 2016 ·
John Jacob Astor once said “Buy on the fringe and wait. Buy land near a growing city. Buy real estate when other people want to sell. Hold what you buy.” Fur trader and real estate investor, Astor was born on July 17, 1763 in Waldorf, Germany. The son of a German butcher, Astor grew up to become one of the leading businessmen of his day and the founder of an American dynasty. He sold off his fur business in the 1830’s and focused on managing his extensive real estate investments, including hotels and residential properties. The wealthiest man in the country at that time, Astor died in 1848. At the time of his death, his fortune was estimated to be about $20 million. The bulk of his fortune went to his son, William Backhouse Astor. William Backhouse Astor’s great-grandson was John Jacob Astor IV. Astor IV died in the sinking of the RMS Titanic in 1912. His net worth at the time of his death was $87 million. Interestingly, Astor’s estate, Ferncliff, north of the town center of Rhinebeck, New York, housed the first residential indoor swimming pool in the U.S. If you are able, purchase real estate, purchase land. It’s an investment in your future.

Google Books
Real Women Invest in Real Estate:
The Wise Woman’s Guide to Real Estate Investing and Achieving Financial Security

By Udo Maryanne Okonjo
Bloomington, IN: AuthorHouse UK
2018
Pg. ?:
“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy.” – John Jacob Astor

Twitter
St Emilion Capital
@st_emcapital
“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!”– John Jacob Astor
#TrustedAdvisor #stemilioncapital #UKproperty #RealEstateAgent #InternationalAgent #PropertyInvestment #RealEstateInvestor
4:23 AM · Aug 22, 2019·Buffer

Posted by Barry Popik
New York CityBuildings/Housing/Parks • Friday, September 06, 2019 • Permalink