Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-02-01

circles Just now in the large transactions which
are taking place in property in what is known as
the Tenleytown region. There has not been as
much activity in that locality since the opening
Of the last administration, when the purchases
by President Cleveland and Secretary Whitney.
followed by the fixing of the lines for the ex-
tension of Massachusetts avenue, directed
the attention of investors to the farms
and country places and their future.
The transactions recently completed and those
In progress will result in the change of owner
ship OF great deal of property in that vicinity.
The large proportion OF the purchases have
been made by syDdicates with the view of sub
dividing the property into building sites. One
OF the largest of these transactions is the sale
by the Thompson syndicate Of the kengla tract,
which lies on the west side of the Tenleytown
road near the head of Massachusetts avenue
extended. This tract contains 33 acres
and the price paid was about $4,000 per acre.
SITE FOR UNIVERSITY.
To the north of this property lies the Davies
tract at the junction of the Tunlaw and Lough-
borough roads. This property has been Sc
cured in the interests of those who are in favor
of scheme for the erection of a university
here to be conducted under the auspices of the
Methodist church. No definite steps have been
taken as yet by those interested in this enter
prise, but the scheme is being seriously con-
sidered and if it should meet with the approval
of the denomination generally there is no doubt
that the necessary buildings will be erected.
Several pieces of property in the vicinity of
this tract have recently been purchased by
syndicate.
BEYOND TENLEYTowN.
Anumber of transactions are reported in farm
lands beyond Tenleytown and outside the Dis
trict line, but these have not reached stage
where the particulars can be given. The Rich
mond syndicate. which owns land extending
from the Tenleytown road to Rock creek, has
it is reported made several sales at good
prices. All these various properties are en-
braced in the general scheme which has been
adopted for subdivision when the city streets
are extended. The completion of the Tenley-
town electric road, it is believed. will have the
effect of inducing people to make their homes
in this locality. while the probability of build
ing other street railways and the various plans
influence In directing attention to this prop
erty. The present activity is accounted for on
these grounds by those who are interested in
property i'll that locality.
IN THE EASTERN SECTION.
The activity in property in the eastern Sec
ton of the city continues to be marked fea-
ture of the real estate market. The transac-
tons are so rapid that there are cases where
an entire square has been sold, resold and sold
again ID the course of few weeks. A square
Of ground is purchased at twenty-five cents a
foot and before the purchase money is paid it
Is sold for perhaps thirty cents, and again. be-
fore the deed passes, a new purchaser steps in
and buys 1t at an advance. MIR. Charles A. Nc
Euen, who is one of tine largest dealers in prop
ertv in that section of the city, told STAR re-
porter that during the past three or four
months he had sold over q million square feet
of ground. Another large dealer in property
IN the eastern section of the city is MIR. Wash
lngton Danenhower. His sales have been over
three-quarters of a million of sqUaro feet:
The activity in this vicinity has been
so great that land on the extreme limit of the
eastern boundary of the city has been brought
into the market. Some of these squares were
to have been lost to sight beneath
the waters of the Eastern branch, but the
water covering them was not deep enough
10 conceal the valued real estate from the keen
eyes OF the speculator. When there was a
suspicion that certain lots were under water
they were sold for five and six cents per square
foot. Leaving the immediate vicinity OF the
branch, land has changed hands at twelve and
fifteen cents foot aud farther west the prices
advance to twenty-five and thirty cents. At
these latter figures entire squares long dis
lance from Lincoln park have been readily
sold and are now held at higher figures While
1t Is admitted that this movement is specuia-
tive, still 1t Is not regarded as purely specula-
tive. Those who are interested in prop
merely recognition on the part of investors
that property Ill the extreme edge of Eas.
Washington has been neglected and the pre-
vailing prices there have been abnormally low
They claim that this property is now being
brought up to level with property in other
sections of the city. The extensive building of
houses. which was the feature of the last
season, is spoken OF as an Indication that people
are finding out that cheap as well as desirable
property can be obtained In the eastern section
Of the city.
The high price of land, it is said, has COM
PEELED people OF moderate means to go out into
the suburbs, and now they are learning that
they can do as WE'LL from financial point of
view. by investing their money on Capitol Hill.
The movement which has resulted in bringing
INTO the market land on the extreme eastern
bounds of the city has had stimulating effect
on property farther west on the Hill In the vicin-
lty OF Lincoln park and along Maryland avenue
and all through that section prices have been
obtained for lots which would be considered
by those who have not kept track
Of the recent operations i'll that locality. Over
two dollars foot has been obtained for land
on East Capitol street as far east as 9Th street
and similar high figures have prevailed in
other transactions i'll this and other localities,
MR.. sCHSEIDER's LARGE ENTERPRISES.
The improvement of the square known as
Athletic park. which was begun last year. will
be continued as soon as the weather permits.
The half OF the square comprising the 9Th and
streets fronts, together with the lots fronting
on Westminster street, the intermediate street
between and L streets. 9Th and 10th streets
was purchased some time ago by Mr..
|. f. Schneider, the well-known archi
Iect During the past week the transaction
Sas completed, the owner. Mr. Henry A.
Willard, giving deed for the property and re-
celying the price, Sl00.0O0 in cash 1t is the
intention OF Mr.. Schneider to improve this
property by the erection of fifty-two three.
story brick houses similar in design to the
twenty houses which he recently built on Cor
coran street between 18th and 18th streets
his Improvement Will involve the expendi-
ture of some $780, 600 and is one of the largest
enterprises of the kind in the city undertaken
by one man. As has been stated in THE STAR.
last year MIR. Schneider built q row of
handsome stone and brick residences on
the north side OF q street
between 18th and 18th streets, and since then
he has acquired the entire south frontage Of
the same street. lie will build forty houses
there similar in style to the row ON the north
side OF the street. lie expects to build these
houses, as well as those in the Athletic SQUARE
during the coming season. These two en-
terprises will involve the expenditure of
about 100000. Like other shrewd investors
Mr. Schneider endeavors to meet the demands
of the market, and his large building op.ro-
tions are evidence that the growth of the civ
in population is a substantial fact which does
not need the researches of census enumerators
to establish.
NEW SUBURBAN SUBDIVISION
The latest subdivision of suburban land is
that of a tract of eighty-two acres COM
prislng the farm of the late Archibald White.
This property lies On the east side OF the 7th
street road between Petworth and cx-Mayor
Emery's country place at Brightwood The