March 25, 1948
 
Messrs. James Roosevelt, Basil O'Connor
   and Harry T. Hackett, Trustees,
Estate of Franklin D. Roosevelt,
120 Broadway,
New York 5, N.Y.
 
			Attention: Mr. Earle R. Koons
 
Gentlemen: 
 
I would like to give you a full report to date reguarding the sale of
the remaining property of the Estate of Franklin D.Roosevelt, Hyde
Park, Dutchess County, New York.
 
As you know, I have discussed with Mr. Koons and Mr. Hackett verbally
the postponement of the private sales campaign, due both to the weather
and to the fact that the market had fallen off considerablyy during the
winter months, and I did not want to spend the monies of the estate
unwisely. Becasue of the same factors, I would also like to suggest
that the auction sale be postponed until sometime later in the summer
when we have had an opportunity to determine the interest that would be
aroused by the private sales campaign, at which time the course of the
market should be clearer.
 
Before continuing with my report, I would like to go over with you all
the proposed restrictions which are to be inserted into any deed to the
Franklin D. Roosevdelt property adjoining the historic site. The
suggested restructions which were proposed at an earlier date, I think
would be detrimental to the sale of the property. In ther words, I am
in accord that factories, manufacturing establishments of any kind,
machine shops, slaughter houses, or public garages for storage and
repair of automotive equipment, should be in the restructions, but
trailer camps, tourist cottages, restaurants, inns, attractive
roadstands, and well-designed service stations should be allowed to be
built back of a line 100 feet from the Albany Post Road. In my opinion,
the erection of homes along any main trucking highway is a thing of the
past.
 
After a careful examination of the marked conditions, competitive
properties being offered on the market, and recent sales, it is
recommended that the following prices be considered as representing the
fair value of the various parcels being offered, and that any offer
received approximating these figures be accepted (Asking prices are
indicated in the descripions of the individual parcels).