The Washington times., 1894-04-30
Real Estate Now
On the Boom

There has been very material strengthen
ing in real estate matters during the week.
Those in position to know say that there
are more large deals now in process of nego-
tiation than there has been at one time before
for several years. number OF deals in
volving values reaching from 100000 to
$300,0O0 are rapidly nearing completion, and
1t is expected that some Of them will be closed
within the next ten days. One OF the largest
real estate dealers in the city gives 1t as his
opinion that more real estate VIII change
hands at good figures within the next sixty
days than during the last ten months. There
has been quite a growing demand for small
property for several weeks, but little was
being done with property OF large values, bu.
this has been changed within the last ten
days.
Some out-of-town capitalists are prospect
ing for "a site for an immense apartment
house, something on the plan OF those go pop
ular in New York and Chicago. They have
several sites In view. and are quietly sound
ing to see ii the property can be obtained.
They have experienced considerable trouble
from the fact that the property most desired
Is owned by several parties, and the owners
of one or two pieces do not desire to sell, and
are rating their holdings ut fancy figures.
This may compel the syndicate TO decide
finally upon a less eligible location. The
purchase of the ground and the erection OF
building will cause an outlay OF something
near a million dollars. The design eontem-
plates series of eight and nine-room flats on
each floor, but some of them Will be so ar
ranged that they can be thrown together thus
giving the tenant fifteen or sixteen rooms.
They are to be built with a special view of
making them desirable for Congressman and
others in official life. Each fiat will have
large reception hall, double pariors. etc., and
be finished in the best style OF modern art.
One of the features will be the arrangements
for a cafe, which it is claimed will be the most
complete thing of the kind on the continent.
The new Masonic temple TO be erected near
the navy yard will be one OF the handsomest
structures of the kind in the country, and IS
said to be in its design the most perfect build
ing for the purposes for which 1t Is designed
known to the fraternity. Masons who have
examined the plans speak in the most glowing
terms of it, and all pronounce ii TO be without
fault 1t will cost abou. 1000 when COM
pleted.
One of the noticeable features of the OPEN
ing of the building season. is that II large
number of new buildings are going up in the
county outside of the city. Quite number
OF very fine farm residences are either in pro-
cess of construction or being negotiated for
The suburbs, such as Brookland and Tacoma
Park. are enjoying a revival OF building.
Wheatley Brothers report that they have con-
tracts to supply lumber for large number OF
houses to go up in the various suburbs, many
of which will be of more than ordinary pre-
tentions for suburban homes.
Building andsloa associations all report
better feeling and renewed activity. Money
is very plenty and can be obtained Tor build
ing operations on very easy terms. Six
months ago about the best one could do to
get money was by paying 4 per cent. COM
mission, while now il can be readily obtained
at per cent, and several loans have re-
Gently been negotiated us low as l per cent.
All the indications point to very heavy busi-
ness in the building trades in the very near
future