Carl G. Fisher - Montauk, Long Island

Montauk, Long Island

In 1926, Fisher began working on a "Miami Beach of the north". His project at Montauk at the eastern tip of Long Island in New York was to provide a warm season counterpart to the Florida development. He and four associates purchased 9,000 acres (36 km2) and built a luxurious hotel, office building, marina, and attractions. The project built roads, planted nurseries, laid water pipes and built houses. He built Montauk Manor, which still exists as a luxury resort today (pictured at right). He also built the Montauk Tennis Auditorium.

However, after the real estate boom became a land "bust" in Florida around 1925, followed by a devastating hurricane in September 1926 which wiped out much of Miami Beach, tourism dropped off severely and Fisher's investments there were hit hard. His financing for the Montauk venture was dependent upon income from the Miami properties. Then, the Stock Market Crash of 1929 struck, followed by the Great Depression. The Montauk "Miami Beach of the north" project went into receivership in 1932.

Read more about this topic:  Carl G. Fisher

Famous quotes containing the words long and/or island:

    Turning one’s novel into a movie script is rather like making a series of sketches for a painting that has long ago been finished and framed.
    Vladimir Nabokov (1899–1977)

    I ... would rather be in dependance on Great Britain, properly limited, than on any nation upon earth, or than on no nation. But I am one of those too who rather than submit to the right of legislating for us assumed by the British parliament, and which late experience has shewn they will so cruelly exercise, would lend my hand to sink the whole island in the ocean.
    Thomas Jefferson (1743–1826)