The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-03-28
The Past Week More Quiet
Than Otherwise
USUAL ROUTINE OF SALES
Largest List Of Building Permits In the
History Of the City
Some Of the riore Important improvements
Which Will Soon Be Commenced.
The New Electric Railroad

|
otherwise ia. the real estate market, and
there has been little more than the usual
daily routine OF sales for building pur-
poses. The most noable sale of the week
was that of the southeast corner OF Fourth
and Broadway for $s7, 500. through the
Pirtle Real Estate and Trust Company
and the Pasadena Trust Company, to. a
New York capitalist. To better under
stand this deal it is only necessary to say
that this property was purchased in No
vember last by Graves, O'Melveny &
| Shank and from the Roberts estate for
$50, 900. and it is only necessary to say
that it is doubtful if the papers in the
! first transaction were completed before
the second transaction was made, at the
heavy advance noted. This is the largest
deal ever reported through Los Angeles
real estate office direct, and reflects the
highest credit on the men who carried
the deal to a successful termination, as
we'll as the New York capitalist who
showed his faith in Los Angeles by in
yesting his money in the best city on the
Pacific Coast.
During the week past transactions kept
up to the full limit of the past Jew weeks
The high mark was reached on Tuesday
last, when the amount OF the considera-
tions was set at $79. 34l, the transfer of
the San Gabriel property of G. s. wilkins
to L. 5. Wotkyns. SIS, 341. bringing the
total up to the figures given. On Friday
Martin Hagan transferred to Nelson Story
property valued at $50 900, which brought
the total for that day up to 500, $50. the
second largest day. The lowest mark
was reached on Saturday. when the total
of all deeds recorded was $50, 7l6. Taken
altogether, the general condition OF the
real estate market was about the same as
the previous week, the exceptions being
noted as above.
4 4 4
AS an evidence that there has been
no falling off in the building boom, the
list of permits issued during the past
month has been the largest in the history
OF the city, numbering $50. The average
heretofore has been from five to six day,
but this month has broken all previous
records. While many of these permits
have been issued for additions and COM
paratlvely unimportant buildings it must
not be forgotten that many houses above
the average are included in them, and
the class of buildings now going up in
this city will compare favorably with any
in the country. A $40, 900 residence is
not rarity in Los Angeles, and the gen
eral run of buildings is perhaps above
that of any competitors. na
4 r 4
Among the important buildings which
are soon to be erected in the city is tn at
of a tirst-class hotel at the corner of
Fourth and Main streets, opposite the
Westminster, to be put up by Mr.. Van
Nuys. His building, if the plans are car
ried out, will be an important addition to
the Main-street pro erty in the vicinity
and will prove quite a factor in keeping
business in that locality. Mr.. Van Nuys
is a man of ample means to carry out any
project in which he is interested, and as
he has large property holdings in the sec
ton named, it can be put down as "A fact
that the building he will erect will be
credit to the city.
Another improvement of more than
average Importance is the restaurant to
be erected by Jerry Hitch on Third street,
between Broadway and Spring streets, |
opposite the Bradbury block Grading
will commence this week and the work |
Will be pushed as rapidly as possible |
The building to be erected by Mr.. Ilich |
will be a three-story brick block, con-
structed with special reference to the uses |
to which it will be put and when COM |
pleted it will undoubtedly be credit to
the city.
The work of construction on the Storrs
electric road has already commenced and |
in consequence there has been quite a
stiffening of prices all along the line of
there is considerable speculation on the
lines OF the guessed-at extensions, and
real estate men are keeping an eye on the
railroad builders with view to anticpat-
ing any spreading out. So far the build
ers have managed to keep their own coun-
slons beyond the route outlined in the
franchise they have been able to keep the
details to themselves.
4 4 4
The rains yesterday and today have
again brought out the fact that something
is radically wrong with the city engineer
ing. All the intersections on Spring
street from First to Tenth were miniature
lakes. and i'll some instances it was i'm
possible for men or women, unless they
were provided with rubber boots to
get across, without walking half
block where the stream was narrow
enough to jump across. 1t has been sug-
time for the city engineer and street sup
erintendent to make tour of the city
and see where they can do some good for
the taxpayer.
The march of improvement still con-
tinues in the residence portion of the
city, both to the southwest and the south
east, and many handsome residences are
in course of construction. besides which
numerous others are about to be con-
Iracted for. AS an evidence of the de-
mand for choice building lots case in
point is cited: In one of the newly
opened tracts on the west. near the West
axe Park, lot was purchased for $500
only two weeks ago. Yesterday $4,000 was
offered for the same lot, and was prompt
" refused.
4 4 +
The improvement out along Pico street
extension continues, and if the street car
service was equal to that in the city it
would be still further increased. AS it is,
he number of new buildings going up is
equal to that of any other section of the
atty.
THE RAIN