Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-02-27
OAK VIEW SOLD.
The California Syndicate Pays $14O,.
900 For It

For several days past there have been ru.
mors in regard to an important sale Of prop
erty in what is known as the Tenleytown re-
gion. The rumors, however, were provokingly
indefinite and yet the intimation that the ne
gotiations said to be in progress were Of un-
usual Importance gave an additional in
terest to the gossip. Gradually, however.
the details leaked out one after the other, and
today it is the talk of the street that ex-Presi-
dent Cleveland's country place on the Tenley-
town road has been sold. The principals in
the affair refuse to talk, and yet they cannot
deny the truth of the rumors which are now
agitating real estate circles 1t seems
probable that Mr.. Cleveland, in the sale of his
place, will create almost as widespread a sem
sation as when he purchased it, nearly four
years ago. 1t is estimated that in the sale just
closed he will clear over 100000. The price
at which he sold is S14O 0OO while four years ago
he paid for the place and the improvements
which he made about $4,000 The new own
ers of Oak View are the California syndicate,
which recently became prominent here by
making AN extensive line of invest
ment along Connecticut avenue ex-
tended to the District line. As was
stated in The STAR at the time the purchases
made by these gentlemen along the line of the
Connecticut avenue extension comprised some
forty separate tracts Of land. The title of
these various pieces of property are now being
searched and as rapidly as the lawyers complete
their work the legal transfer of the property to
the syndicate is made. The purchases
million of dollars. But the syndicate are not
View is the beginning Of another
series OF purchases which. though smaller in
extent than the Connecticut avenue holdings
are likely to require quite as much money to
carry out. Oak View, however bears a rela-
ton to several other purchases made by the
syndicate which makes it of importance in
carrying out the plans for developing the
property.
TO BE CUT INTO LOTS.
1t is not likely that Oak View will be kept in
its entirety place Of residence. The house
will probably be allowed to stand, but the
grounds will be subdivided into building lots
1t has been known for some months past that
MIR. Cleveland would sell his property, but the
price placed upon it was thought to put it
practically out of the market. Negotiations,
however, were begun with his agentin this city,
Mr. Albert A. Wilson, and the sale was finally
effected by MIR. Wilson in connection with Mr..
r. II. Goldsborough. The price paid is about
to be in the place and will rank this property
among the gilt-edged holdings in the
suburbs 1t is known that Mr.. Cleve-
land regarded his place as valuable
property. He was certainly justified
in the opinion that it was worth considerably
more than he paid for it nearly four years ago
by the change in values in property all about
Oak View. Mr.. Cleveland made his purchase
in the spring Of 'S6, short time after what is
known the Massachusetts avenue and
Tenleytown boom set in. Secretary
Whitney had already paid $500 per
Aistan
and short time before the close of the last
administration he disposed of his property,
Grasslands. as it was known, at a profit of
$4,000. Property along the Tenleytown road
and Massachusetts avenue extended was
bought up at $500 and S4O0 per acre.
Since then, however, there has been an ad-
vance on these figures and the price paid for
the Cleveland place is an indication of what is
asked and what is some times obtained for prop
erty in that section of the suburbs