The Herald-News/1949/22 Preakness Lots Sold for $49,000
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22 Preakness Lots Sold for $49,000
Paterson, New Jersey. Sale of 22 lots in a new Preakness housing development for $49,000 and assumption of a $40,600 mortgage in return were recorded yesterday in the office of John C. Summers, register of deeds and mortgages. The lots, off Preakness Avenue near Valley Road, were sold by Mitchell Homes, Inc., to the Edley Corporation, of Jersey City. In return, the Mitchell firm accepted a mortgage from the purchasers. G. Malcolm Mitchell, III, is president, and George M. Mitchell, Jr., secretary of the company making the sale. Arthur O. Freudenberg is president and John White, secretary, of the Jersey City firm.
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