Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-10-11
REAL ESTATE GOssIP.
The Marked Development OF One Of
the Business Sections.

the Business Sections.
SOME OPINIONS IN REGARD TO TIE ACTIVITY
In BUSINESS PRoPERTY-oNE PHASE OF HOUSE
BUILDING WHICH INTERESTS SOCIETY PEoPLE-
Nh scHSEIDEx's BUILDING OPERATIONS.
O. HE LEADING feature Of the real estate
~ market continues to be the interest
which is displayed in what 10 known %
Dbusiness property. During the past
- week there have been no sales Of special
moment, still the brokers find that inquiries
for this class of property are frequent.
Owners Of property lying within the section
where the greatest activity has been displayed
realize that their acquaintance with real estate
agents is rapidly extending, and promises to
include q large proportion Of those engaged in
that business. Any list of the properties that
are on the market, If at all complete, would be
q long one, and some brokers are anxious to
make their lists as full as possible. The atten-
ton Of those having money to invest is gener-
ally directed toward property of this kind,
and the numerous sales that have been made
and others that are in the stages of develop
ment are indications that buyers appreciate
what is being offered All this activity points
to an extension of the present business terri
tory, and in quiet way there is good
result of legitimate growth of
the business of the city or whether it is merely
speculative. In this discussion both sides Of
the question are we'll represented, and it is not
difficult to obtain opinions that seem to be
conclusive in support OF either view that is
taken of this movement. Mr.. ". B. Moses is a
firm believer in its substantial character. Some
seven or eight years ago he had confidence
enough in the future of street as business
street to buy the ground whore his business
IL afaI fhar,
deuted price of IS per square foot He says
he was advised at the time that he was not
only foolish to pay such price. but that he
was also unwise TO remove his furniture bust
ness TO street, which was even then largely a
residence street. His experience, however,
has proved that he was right and his advisers
were wrong. Now it would be impossible to
buy site equally As eiigibly located on F
street for six or seven times the
price that he paid. In talking with
said that in his opinion within the
next ten years the value of the property ON F
| street would be twice what it was today. He
said that before long property would become
so valuable that 1t would be impossible for a
small business to stay on the street, and he
thought that the movement now in progress,
which WAS changing the residences on the side
streets and on the parallel streets north and
south of street. was substantial indication
OF that fact. In his opinion the street of the
large business houses.
OPINION OF AN OUTSIDER.
business man of large means, whose home
is in Buffalo, rode through this section of the
city the other dav with Mr. T. A. Harding, the
real estate agent. lie was much Impressed
with the future outlook of the property, and
when he learned the prices asked he said that
they we're much lower then property similarly
located in his own city. This gentleman
secured one or two pieces of property and
observed that he would like to buy more if he
could spare the money from his business. Mr..
Harding, who takes a conservative view, said
that i'll his opinion, while the present prices
were high, yet even at the figures now asked
property would pay n moderate return, that
the purchaser could afford to wait for rise in
values. He cited one instance where he had
recently sold piece of property at what was
considered Q high price, yet the building was
under rent so as to pay per cent net on the
purchase money. He thought that where the
old buildings were removed and now buildings
adapted for business purposes were erected
that the property would yield good return on
the investment.
A somewhat similar opinion is entertained
by MIR. Batcheider of the firm of McLaGhlen 4
Batchelder few months ago this firm pur-
chased corner property on u street anu fit
ted it up for their real estate business Mr..
Batohelder says that they secured their pres
ent location because they saw that in few
years they would be obliged to leave F street.
He believed that the activity in street prop
erty and IN that along the side streets was due
to the fact that more room was needed to ac-
commodate the increasing business of the city.
While, Of course, he said, mere was specu-
lative phase In the movement, yet he believed
that the basis Was sound and that the future
would justify the prices now asked and paid.
AND THE CITY aoEE RIGHT ALONG.
There are of course extremists ON both sides
L.c L.-A
above seem to occupy the middle ground and
to give fair representation, although the
language may be somewhat more moderate than
the views both Of 1.-The boomers and of the
other class who sometimes impolitely
termed 1.-The croakers." The latter. however
have had rather hard time in this city for the
past fifteen years, because all their forebodings
ABOUT the city have proved groundless In
stead OF the bottom OF our prosperity falling
out and letting everybody and everything
down in a grand crash, the city has gone on
with immense strides, its prosperity has been
unchecked, ito future has grown brighter with
each year.
SOCIETY AND ARCHITECTURE.
People who attend the large official recep-
tions in this city are apt to complain about the
interior arrangements of the residences OF the
cabinet ministers and other officials Obiec-
ton Is made to being ushered into the midst of
host OF people in evening dress when the we'd
ding garments, so to speak, have not yet been
donned, or rather they are obscured under the
wrappings which an evening costume makes
necessary when going from the home to the
reception 1t Is natural for people to wish TO
look their best and when they know that they
can look better 1t Ii exasperating to be Obliged
to pass through the gay throng of pleasure
seekers having the appearance of a guy in con-
sequence OF the wraps, overshoes, &c. But it
Is necessary TO make virtue Of necessity, and
as there is only one entrance and one hall and
one staircase in the house. and as the dressing
room is generally located on the second floor, Of
course the guests are obliged to run the gaunt-
let in order to reach the dressing room Ii nm
der such circumstances dear friends pass each
other without glance of recognition il is par
doned ~ justifable cut and no i'll will results
1t is an interesting question for those who are
thinking about building or wish to build a res
idence that would be convenient for social
purposes to know how this Questionable feature
can afford to buy corner lots can have two en-
frances, as Vice President Morton has in his
residence on Scott circle. But the people who
own corner lots, as . rule, are rich enough to
take care OF themselves, and so they can be
left out Of the consideration of this question.
suppose man has an inside lot and he uses
the entire frontage Of his h0nse, how il he
going to arrange the interior of his
home so that his guests at O large reception
may make their first appearance in their good
clothes instead Of being huddled I'D in wraps
and stumbling along IN goloshes? In the opin-
ion Of Mr.. J. c. Hornbiower, who has set up
nights with this problem, the most satisfactory