The Washington critic., 1890-02-02
GOOD PRICES FOR LAND.
RICHMOND PARK ACRES SOLD TO
A SYNDICATE.
A New Fire-Proof Building TO be
Erected by the National Union
Fire Insurance Company - linz
provemonts In the Gold Belt.


Erected by the National Union
Fire Insurance Company I'm
provemonts In the Gold BELT.
Real estate matters in the northwestern
section of the city took an upward ten
dency last week, growing out OF several
large syndicate transactions, the most nota-
BILE being the sale of the Richmond Park tract
Of sixty-nve acres. This was accomplished by
the Messrs. Goldsborough the figures ag-
gregating sl05,000, although but few
years ago the same piece of land was pur-
chased for $500. No better evidence is
needed of the continued appreciation OF
suburban property, and II is understood
that the syndicate interested in the pur-
chase will at once subdivide their property
into building sites and put them upon the
market. This property commences at Kiln
gle's Ford and runs northerly from Wood
ley Park, and is Just east Of ex-President
Cleveland's Oak View.
In discussing the sale Mr.. Goldsborough
said that the price obtained is in every re-
spect satisfactory and represents large
percentage upon the cost Of the tract to
its previous owners, also q syndicate inter
ested in northwestern real estate In the
District.
SALE IN THE GOLD BELT.
There was an auction sale of old ma
terial yesterday afternoon in what is known
as 1.-THE Gold Belt,n the territory on street,
between Seventh and Fifteenth streets
northwest, aud In few days number of
frame and old brick buildings will be num-
bered with the things that were. At the
corner Of the alley on the south side OF +
street, between Ninth and Tenth streets
there is q lot ~ feet wide by 100 feet
deep,whieh became she property OF the
National Union Fiie Insurance Company
about the lst of December, 1889.
THE NEW INSURANCE BUILDING.
An advantage possessed by the proposed
building for the insurance company is that
all the rooms, sixty-six In number, will be
well lighted on all sides and ventilated in
the most approved modern style. No wood
whatever, will be used in the construction
of the building, and the floors will have
iron beams and girders, while the walls will
be of terra Gotta, the spaces between them
and the floor arches being filed in with
cement. Even in the roof the fireproof
will be carried out by the use of slate aud
iron, and the architect, Glenn Brown, has
made a model building aud one which
cannot fail to attract favorable comment
Upon the + street front Of this lot there
is frame dwelling, and in the rear is a
brick stable, the material Of which was
sold at auction yesterday. Contracts will
probably be awarded tomorrow for the ex
cavation for a tireproof six-story structure
to be known as the National Union Build
ing. When the lot was purchased the
figure paid, SAC, 900, was regarded as very
moderate, for this made the site cost about
$l1 per square foot. For an additional
O,000 the company propose to make de-
cided improvement on this square, which
is likely TO present somewhat torn-up ap-
pearance in few days.
st. Cloud Building, at the corner Of
Ninth and I streets, will join the humble
frame of the lot in the centre of the
square, in making room for the chariot Of
modern progress.
RISE IN VALUES.
President A. L. Britton Of the new Trust
Company said to THE CRITIC representative
that land bought by him in the same block
for the Pacific Building cost over Sl3 q
square foot and that il any of it is sold on
the square for SIS per fooot the purchaser
will get bargain. That this is appreci-
ated is shown by the fact that within a few
| days after consummating the purchase
| of the new site Noble ID. Larner of the In
| surance Company was offered consider
| able advance on the SAG. 600 paid for the
| property.
~ knew In advance" said Mr.. Larner,
"abut the proposed improvement at the
| Saint Cloud site. and this may account for
the eagerness of my company to buy the
| lot which we now possess. 1t is not for
sale, no matter what figure may be offered,
for we know good thing when we get it
about as well as anybody else in Washing
| ton"
These two transactions iu suburban and
inside property are fair reflex of the con
dition OF the real estate market in the Dis
trict at present, and talks with the dealers
indicate healthy tone in ali other sections.
Northeast property is rapidly enhancing in
value, and especially since a number OF
building permits within the past year show
that the tide of population is pushing out
| in that direction. Comfortable dwelling
houses for persons of moderate means are
being made feature of the improvements
in this part of the city and in the vicinity
of Lincoln Park and Kendall Green, and
there is marked increase in brick houses
usually about three stories high.