Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-04-02
CITY REAL ESTATE.
A Gratifying Increase in Transac-
tions Already Apparent
ENLARGING THE BUSINESS AREA.
A Wholesale Dry Goods Firm Makes an In
vestment in Williamsburg.
ANOTHER DEAL ON NEGLEY AVENUE

of number Of brokers who were spoken t.
on the subject yesterday. Thisis both graf
flying and encouraging-the former because
the market is maintaining its high posi- tior
in the estimation of investors, and the latter
because it holds out fair prospect of i'm
provement with the coming of settled
weather and solid roads.
The belief is widely entertained that 1885,
will make record for real estate which
will surpass that of any former year in the
history of the city. It is true this is only
an opinion, but there are good reasons for
holding it. The abundance of money and
the generally prosperous circumstances Of
the people make it comparatively easy to
acquire homes This is being done at an
unprecedented rate, and will continue so
long as the city maintains its pre-eminence
as q manufacturing center. Another reason
is found in the extension of rapid transit
Whenever it touches new district a de-
mand for building sites Immediately springs
I'D. An example of this is furnished by
| Greenfield avenue. From backward loca-
tion it has almost at a single bound become
| one of the most active quarters of the East
End.
|
Further evidence of good year in realty
| isfound in the fact that acreage is being
picked up wherever possible for subdivi-
| sion. As noted day or two ago, three
plans, aggregating nearly 400 lots, will be
put on the market in the next few days.
OF course there is demand for them.
Capitalists do not do these things at ran
dom. The large East End deals reported
yesterday will further reinforce the stock
of lots in quarter which, if half the i'm
provement schemes under consideration
materialize, will surprise the public before
the end of the year.
Activity along this ine-the acquisition
of acres for subdivisicn-is confined to no
particular locality. 1t is striking feature
on the Southside, the Northside, out Perrys-
vile avenue and down the Ft. Wayne Rail-
road to and even bevond Ellsworth, and is
becoming an important factor along the
line of the West End Passenger Railway,
in anticipation of the adoption of the cleo
trio system.
Enlarg1ng the Business Area.
Superior to acres In importance are the
downtown interests. Business property is
and will remain the star feature of the
realty market. That 1t Is strong everybody
knows Commercial development Is re-
stricted BY lack of facilities, but relief is in
sight. Nine frst-class business houses are
under contract and others are under con-
sideration. Colonel Heron, agent for Mrs.
Schenley, says the Point will be de-
voted to business. -Four commodious stores
will be erected on Fifth avenue, short
distance above the Court House, this season.
This enlargement of the commercial area
westward and eastward will be beneficial to
the city. 1t will increase the number of
traders and suggest to owners the necessity
of keeping rents within moderate limits.
One of the largest holders of downtown
property said few days ago that he did
not care to sell, for he knew of no invest
ment which had equal possibilities Backed
by such feeling the prospect of a reaction
in values is very remote. But along with
this sentiment is found growing DISPOSE
tion to replace old structures with those of
modern style. The work of undermining
the antiquated quarters once fairly under
way, as it soon will be on Liberty street
and Penn avenue, it is fair to assume that
it will meet with no material check until
the revolution shall be complete.
Special Features of Trade.
Afine residence will be erected this season
on the corner of Penn avenue and Beatty
street. 1t will cover a lot 65xlOO feet.
There is talk at Edgewood of organizing a
company to build an electric road from that
place to Williamsburg, to connect with the
DuQuesne A. w. Cadman is at the head of
this scheme.
The following real estate firms on Fourth
avenue have or will change quarters this
month: Charles Somers, from l2s to ISL;
across the avenue; GRABBING, Lyon & Co.,
from 1873 to l42: A. Morrison & Sons, from 1873
to 159; A. Leggate & Son, from los to g., below
the Bank OF PittsburG.
Wof Doh n
Bailey, stock brokers, have taken quarters
in the new Germania Bank building, Wood
street.
The following quarterly dividends have
been announced: First National Bank of
Pittsburg, 2 per cent: Central Bank, IL per
cent; Farmers Deposit National Bank, per
cent.
The West End Passenger Railway Com
pany is receiving bids for its power house at
Temperanceville.
Builders Out in Force.
Yesterday was one of the best building
days of the season. Good weather brought |
owners and contractofs out in force. Four |
teen permits were issued for 20 improve. |
ments of various kinds, the cost of all being |
estimated at $77,55o. The most important |
are John B. Jackson, brick two-story dwell |
$50, 600; W. T. Edwards, stone and frame |
dwelling on Forbes street, .Twenty-second |
ward, SIS, 900; George w. Acheson, brick |
on ANDERSON avenue, IWentletn |
ward, sl2. $780, Mrs. P. Hugus, brick two-story |
dwelling on Negley avenue, Twentieth ward, |
IS 600; S. S. Robertson, four frame dwellings |
on Flora street, Thirteenth ward, SO, coo: E. /
A. Hill, three frame dwellings on Leila |
street. Thirty-second ward, s., $50; j. T. Glib
son, brick two-story dwelling on Negley |
avenue, Twentieth ward, 81, Coo
--latest Events in Realty.
Good weather is stimulating trade in all |
lines, but in none is its vivtfying effect more
apparent than in realty. Proof of this is
found in the increase in the number and i'm
portance of the sales consummated in the
last five days. All indications point to an.
active market throughout the season.
1t was learned yesterday that $50 feet on
Negley avenue by lbs in depth had been dis
posed of to a former Liberty street commits
sion merchant at a figure close to SO 900.
The purchaser will improve with fine resi-
lence Charles Somers was the agent in this
The Stephenson property on Penn avenue,
was disposed of at Orphans |
COURT sale. It was put up in three parcels,
md brought $14, 200. subject to a Sc OO0 mort |