Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-11-08
OVER A HUNDRED THOUSAND.
DR.. Busey's Country Place Sold to tho
Sharon Estate.

Sharon Estate.
A notable sale Of suburban property has Just
been completed. Thomas ]. Fisher Il Co., in
connection with Mr.. o. C. Green, has sold to
the Sharon estate the country place of DR.. s.
c. Busey for $116,0 600 cash. As is well known
this place is located ON the Woodley Lane road
just east Of the Tenleytown road and about OPP
posite the late residence Of ex-President Cleve-
land. The property comprises twenty-nine
acres and the price per acre was' therefore
$4,000, which shows that the values Of real
estate in that locality have been fully main
tanned. The property was purchased as an in
vestment and there is no intention to bring it
in the market for the present at least. 1t is
one Of a series Of purchases which have been
made recently for the estate by their agents
in this city, Thomas ]. Fisher l. Co.,
and the entire series represents a policy
of replacing the investments in the city held by
the estate with holdings in suburban property.
As is we'll known, the late ex-senator Sharon
for some years before his death was an extensive
owner of real estate IN this city. His property
lies mainly in the northwestern section Of the
city, and the bulk Of it was originally purchased
about the year 1871 by Judge Sunderland, who,
in connection with Judge Hillyer and Senator
Stewart, constituted the famous California
estate here nearly twenty years ago was the
sensation of that day. At that time the property
purchased by them in the vicinity Of Dupont
Circle seemed to be as remote from the center
of population as the recent purchases OF
the Sharon estate along the line OF Connecticut
avenue extended appears to be at the present
day. Acting under the advice Of Thos. j. Fisher
& Co.. who have been the agents Of the estate
from the time of the original investment by
Senator Sharon, the policy has been pursued
of replacing the city investments with sub
urban property. The land in the city has be-
come very valusble, and the demand for it has
resulted in rapid sales recently. Since last
spring Thos J. Fisher 4 Co. have sold owe
$500, 900 worth OF property of the Sharon hold
ings in this city. The remainder of the prop
erty within the city limits still owned by the
estate il valued at about the same figures
During the present year Thos. j. Fisher
d Co. have purchased for the estate
suburban property valued at more than $780,
pieces lie along the line Of Connecticut avenue
extended. In addition the estate owns two
thirds interest In the property purchased
along Connecticut avenue extended, within and
beyond the District line and held by the Chevy
Chase Land improvement Company. The
holdings OF this company were acquired last
spring by the expenditure Of over million
dollars. The Sharon estate therefore owns
property in the suburbs OF the city which rep
resents an investment over OF million dollars.
II is the intention to develope this property,
and the work is now in progress OF building
an electric railroad along Connecticut avenue
extended and two miles into Maryland beyond
the District line. Money will be expended in
other ways, SO that the Sharon estate will be
an important factor in the future development
Of the suburbs.
One of the heirs Of the Sharon estate il Mr.
Francis G. Newlands. He b personally an ex-
tensive owner Of real estate here. Last spring
he bought through his agents, Thos. J. Fisher
4 Co., the country place Of ex-President Cleve-
land, which he has subdivided. He is also
largely interested in the Chevy Chase I'm
provemens Company and in the Rock Creek
Railroad Company, being president Of both
companies.