The Sheepshead Bay Race Track was an American Thoroughbred horse racing facility built on the site of the Coney Island Jockey Club at Sheepshead Bay in Brooklyn , New York.
31-673: The racetrack was built by a group of prominent businessmen from the New York City area who formed the Coney Island Jockey Club in 1879. Led by Leonard Jerome , James R. Keene , and the track's president, William Kissam Vanderbilt , the Club held seasonal race cards at nearby Prospect Park fairgrounds until construction of the new race course was completed. On June 19, 1880 the track hosted its first day of Thoroughbred racing . Old maps and railroad track diagrams for
62-776: A friend of Jerome's daughter Jennie. Leonard Jerome died at the age of 73 in Brighton , England, surrounded by his wife and surviving daughters. He was originally buried at Kensal Green Cemetery in England, and later buried in the Green-Wood Cemetery in Brooklyn. Jerome Avenue in the Bronx, Jerome Avenue in Brooklyn, Jerome Park Reservoir , and the Jerome Stakes are all named after him. In 2023 Jerome
93-562: A member of the Class of 1839, before leaving for Union College , where he studied law with his uncle, known as Judge Jerome, and set up a practice in Rochester, New York . He later moved to New York City , where he became a stock speculator and promoter. Jerome was a flamboyant and successful stock speculator. He made and lost several fortunes, and was known as "The King of Wall Street ". He held interests in several railroad companies and
124-592: A passion for thoroughbred horse racing and helped found the American Jockey Club . In the late 1860s, Jerome was part of several hunting trips in the American West . These trips were guided by Buffalo Bill Cody . In 1866, Jerome bought the estate and mansion of James Bathgate near Old Fordham Village in what was then rural Westchester County , but is now The Bronx . Jerome and financier August Belmont, Sr. built Jerome Park Racetrack on
155-533: A potential development is sometimes called speculative development . Subdivision of land is the principal mechanism by which communities are developed. Technically, subdivision describes the legal and physical steps a developer must take to convert raw land into developed land. Subdivision is a vital part of a community's growth, determining its appearance, the mix of its land uses , and its infrastructure, including roads , drainage systems, water , sewerage , and public utilities . Land development can pose
186-458: A project's economics; attorneys to handle agreements and government approvals ; environmental consultants and soils engineers to analyze a site's physical limitations and environmental impacts ; surveyors and title companies to provide legal descriptions of a property; and lenders to provide financing. The general contractor of the project hires subcontractors to put the architectural plans into action. Purchasing unused land for
217-582: A racetrack personally liable for any betting done on their premises, with or without their consent. Such an onerous liability was intolerable and meant that by 1911 all racetracks in the state ceased operations. Although a February 21, 1913 ruling by the New York Supreme Court, Appellate Division paved the way for racing to resume that year, by then it was too late for horse racing at the Sheepshead Bay Race Track and it
248-522: A summary of 1909 racing, the Daily Racing Form reported that "Sheepshead Bay, which for years led the country in daily average distribution, yielded first place in 1909 to Belmont Park, which August Belmont and his associates are ambitious to make the "turf headquarters of America"." A 1910 amendment to the Hart–Agnew legislation added further restrictions that made the owners and directors of
279-530: A team of professionals to address the environmental, economic, private, physical and political issues inherent in a complex development project is critical. A developer's success depends on the ability to coordinate and lead the completion of a series of interrelated activities efficiently and at the appropriate time. Development process requires skills of many professionals: architects , landscape architects , civil engineers and site planners to address project design; market consultants to determine demand and
310-571: The Manhattan Beach Branch of the Long Island Rail Road showing the spur that served both the club and the racetrack indicates the entrance to the club was located on the east side of Ocean Avenue between Avenues X and Y. The Sheepshead Bay Race Track station contained six tracks and three island platforms . In its first year of operations, the new Sheepshead Bay track hosted a 1½ mile match race between two of
341-751: The Sheepshead Bay Handicap was named in honor of the old racetrack, and first run at the now-defunct Jamaica Race Course in Jamaica, New York . It, too, is currently held at Belmont Park. The new owner converted the horse track to a board automobile race track . Several auto races were held from October 1915, through September 1919, including the Astor Cup Race and the Harkness Trophy Race . The Sheepshead Bay Speedway Corporation ran into financial difficulties following
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#1732780512999372-699: The Sheepshead Bay Race Track . On April 5, 1849, Jerome married Clarissa Hall (1825–1895), daughter of the wealthy Amos Hall, in Palmyra, New York . Together, they had four daughters. One daughter, Camille, died at age eight. The other three – Jeanette, Clarita, and Leonie – became known, in some quarters, as "the Good, the Witty and the Beautiful". Leonard Jerome's wealth afforded his daughters
403-620: The Town and Country Planning context in the United Kingdom, 'development' is defined in the Town and Country Planning Act 1990 s55. A development team can be put together in one of several ways. At one extreme, a large company might include many services, from architecture to engineering . At the other end of the spectrum, a development company might consist of one principal and a few staff who hire or contract with other companies and professionals for each service as needed. Assembling
434-461: The Bathgate land; the first Belmont Stakes was held there in 1867. Jerome and his brother Lawrence had a wide boulevard made from Macombs Dam to the track, which city authorities attempted to name "Murphy Avenue" after a local politician. This incensed Jerome's wife so much that she had bronze plaques saying "Jerome Avenue" made up and bolted into place along the road, forcing the city to accept
465-595: The Coney Island Jockey Club opened the first turf racecourse in the United States. The Club replaced the Sheepshead Bay steeplechase course with a one-mile turf course, built inside the existing main dirt track. The Green Grass Stakes was the first race on turf and was run as part of the June 10 opening day program. A race for three-year-old horses, it was contested at a distance of a mile and an eighth and
496-597: The New York Colony in 1717. Jerome was born on a farm in the central New York town of Pompey , near Syracuse . His paternal grandmother was Betsy Ball, a relative of George Washington . His maternal ancestry was Scottish. He originally enrolled in Princeton University , then known as the College of New Jersey (where two of his brothers studied theology and became Presbyterian ministers), as
527-438: The corner of Madison Avenue and 26th Street, had a six-hundred-seat theatre, a breakfast room which seated seventy people, a ballroom of white and gold with champagne- and cologne-spouting fountains, and a view of Madison Square Park . It was later sold and housed a series of private clubs. The mansion was demolished in 1967. Jerome was an avid sportsman. He enjoyed yachting with his friend, William K. Vanderbilt . They shared
558-487: The death of its majority shareholder Harry Harkness in January 1919. The property was sold in 1923 for residential real estate development . No trace of the racetrack can be found today. Other defunct New York race tracks: 40°35′32″N 73°56′50″W / 40.59222°N 73.94722°W / 40.59222; -73.94722 Leonard Jerome Leonard Walter Jerome (November 3, 1817 – March 3, 1891)
589-436: The most risk, but can also be the most profitable technique as it is dependent on the public sector for approvals and infrastructure and because it involves a long investment period with no positive cash flow . After subdivision is complete, the developer usually markets the land to a home builder or other end user, for such uses as a warehouse or shopping center . In any case, use of spatial intelligence tools mitigate
620-520: The name. The racetrack was acquired and demolished by the city in 1894, to make way for Jerome Park Reservoir . The Bathgate mansion served as a summer home for the Jerome family. In the early 1900s, the mansion was razed and replaced by the Kingsbridge Armory . Jerome became a resident of Brooklyn. He, Vanderbilt, and other investors founded the Coney Island Jockey Club which in 1884 built
651-565: The opportunity to spend much time in Europe, where they associated with the aristocratic elite of the day. All three daughters married British or Anglo-Irish husbands: Jerome was also rumored to be the father of the American opera singer Minnie Hauk . He also had an affair in the 1860s with Fanny Ronalds , then separated from her husband. Ronalds later lived in London, where she remained
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#1732780512999682-451: The people and companies who coordinate all of these activities, converting ideas from paper to real property . Real estate development is different from construction or housebuilding , although many developers also manage the construction process or engage in housebuilding. Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint ventures, and create, imagine, control, and orchestrate
713-488: The process of development from beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it. Sometimes property developers will only undertake part of
744-739: The process. For example, some developers source a property and get the plans and permits approved before selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer who is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately. The financial risks of real estate development and real estate investing differ due to leverage effects. Developers work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, lawyers, leasing agents, etc. In
775-532: The top horses racing at the time in the United States. The Dwyer Brothers' Luke Blackburn was ridden by Jim McLaughlin , and Pierre Lorillard's Uncas was ridden by Tom Costello . Luke Blackburn won by twenty lengths. Sheepshead Bay had both a dirt and a turf course. Principal backers were: The new Sheepshead Bay Race Track's premier event was the Suburban Handicap , first run on June 10, 1884 and conceived by James G. K. Lawrence, who became
806-721: The track's president. Four years later Lawrence would also create the Futurity Stakes , first run on Labor Day in 1888. At the time, the Futurity was the richest race ever run in the United States. Today, both the Suburban and the Futurity are ongoing Graded stakes races held at the Belmont Park racetrack in Elmont on Long Island . The Lawrence Realization Stakes was named for James G. K. Lawrence. On June 10, 1886
837-575: Was an American financier in Brooklyn , New York, and the maternal grandfather of Winston Churchill . Leonard Jerome was born in Pompey in Onondaga County, New York , on November 3, 1817. He was one of nine sons and one daughter born to Aurora ( née Murray) Jerome (1785–1867) and Isaac Jerome (1786–1866). Isaac was a descendant of Timothy Jerome, a French Huguenot immigrant who arrived in
868-698: Was often a partner in the deals of Cornelius Vanderbilt . He was a patron of the arts, and joined in the founding of the Academy of Music , one of New York City's earliest opera houses . During the New York Draft Riots , Jerome defended the New York Times office building with a Gatling Gun . Although he had significant holdings in the Times , he was not the majority shareholder as is sometimes erroneously claimed. The Jerome Mansion , on
899-587: Was posthumously inducted into the National Museum of Racing and Hall of Fame as a Pillar of the Turf for his contributions to thoroughbred racing. Real estate development Real estate development , or property development , is a business process , encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are
930-587: Was ultimately sold to the Sheepshead Bay Speedway Corporation who used it for automobile racing. In December 1919, what the Daily Racing Form called one of the most famous racetracks in the history of the American turf, was purchased for real estate development . The facility was torn down and the land subdivided into building lots . Stakes race titles Ŧ One of the three Sheepshead Bay Autumn Serials. In 1959,
961-471: Was won by Emory & Cotton's Dry Monopole in a time of 157.00. In 1908, the administration of Governor Charles Evans Hughes signed into law the Hart–Agnew bill that effectively banned all racetrack betting in the state of New York . The legislation allowed for fines and up to a year in prison which was strictly enforced. Compounding matters for the Sheepshead Bay track was intense competition. In