The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-07-13
REALTY MARKET REVIEW.
The Center Market Property
Finally Leased to D.
Samuels.
THE TERMS CT THE LEASE
Last Week the Most Quiet of the
Year-Auctlon Sales An.
nounced.

The real estate market has had many
drawbacks to contend with the past year
or two and it looks as if the end was not
yet reached. A prospective high tax rate
was the greatest menace few weeks ago,
but that was overcome, and now come
the Assessor with what is con sidered an
arbitrary and pncalled-for increase in tax
able valuations of real estate 10 the amount
of nearly $12, 100000. Il is the opinion
that this gentleman has not had occasion
to visit the various real estate Offices in the
City this year or be would have learned
long ago that values have deprecated ma
terially within the past year, and that, in
stead of any increase in the assessed val
ues of real estate, it would have been more
in keeping with existing conditions 10
have reduced the assessed taxable valuation.
Many specific instances of exceedingly unjust
assessments could be cited, and it is believed
that the Assessor, ii called upon to justify his
actions in the premises, ould have pretty
hard time in setting up the shadow OF a de-
tense.
Brokers claim that real estate has been COM
PEELED 10 bear an unjust share of the burdens
of taxation for the past year and unless the
Board of Supervisors, acting as q Board OF
EQUALIZATION, Will unQO the WOrk OF the AS
SCISSOR, many property owners will find but
little difference in the amounts of their taxes
between this year and last. Assessing prop
erty at $4,000 and making tax rate of 24 and
assessing the same property at $500 with g
tax rate of ~ comes pretty near being a stand
off, and if the Assessors valuation is permitted
to stand property owners will be nearly or
quite as badly off as they were the past year
Last week was the quietest one of the year,
as the records will show. Two holidays within
week, coupled with the fact that many peo-
ME q [ ahSpOs from the CITY a.
cations, accounts mainly for the few transae-
tons recorded during the week.
REVIEW OF THE RECORDS
There were eighty-three transfers recorded
Sixty-seven mortgages, aggregating $751;
057, were recorded during the week. But two
were for amounts exceeding $4,000. They
were:
year at 6l2 per cent. on property on the south
line of Post street, 1877 70 feet east of Stockton,
Savings and Loan Society for one year at 61a per
cent $4,000 on property at the southeast corner
1864, south 2:61S. east 2:234 south IS, east
inches, south 9:2, east 5, south 81 west 2515
south 14;s east "a, south s1,a inches, east 25,
south 80, east 1S IS, north 1878, and west 137 IS.
There were forty-nine releases. aggregating
| $140,756, recorded during the past week.
| They were all Tor small amounts, the highest
| be ing $4,000.
Fifteen building contracts calling for total
| expenditure of $S1,228 were recorded last
week. The particulars OF each contract were
as usual, published in THE CALL at the time
| OF filing.
THE CENTER MARKET LEASED.
After much negotiating D. Samuels, proprie-
tor OF the Lace House, has come to an under
standing with Mrs. Alice Phelan Sullivan,
owner of the Center Market and last Saturday
a lease was signed by the terms OF which Mr..
samuels viii: the LIST Of 4. next February. be-
Center Market property, at the corner OF
| Suffer street and Grant avenue.
Many.propositions and counter propositions
! were made before a final understanding was
| reached. The lease is for a term OF FIVE years
| with the privilege OF five more, the monthly
rental being 1920.
| By the terms of the lease extensive altera-
| lions to be made that will cost, it is esti-
mated. about $4,000. The entire ground
| TO be replaced by steel beams and Orders, new
| floors and woodwork are to be put in and the
1 entire interior is to be newly lathed and plas-
| tered. The entire frontage is to be encased in
plate glass and Will be when completed one of
| the handsomest store fronts in the city. The
| basement Is also to be thoroughly renovated,
while the upper floor is to be divided up into
| Office rooms.
Mr. Samuels' store will have frontage of
| 1874 feet on Grant avenue and 100 feet on
Suffer street. He will also occupy the base
largest floor space of any exclusive dry-goods
house in the City. The remaining 90 feet OF
the sutter-street frontage will be divided into
| three stores. These stores and the Offices on
| the second floor viii be rented BIZ the owner,
| as Mr.. SAmuel's lease is merely for the portion
/ of the building he is to occupy. The altera.
| tions will be completed January l and the
new tenant will take possession the LIST OF Feb
| ruary. A. j. Rich & Co. acted as brokers in ne
| gotiating the lease.
MISCELLANEOUS NOTES.
Bovee, Toy & Soniag have sold to w. A.
| Schultz, for F. E. Buchanan, the three-s tory
| building. consisting OF a store and two flats,
| with lot 20x60, at 232 0Farrell street. The
/ con sideration was $15 600. Other recent sales
| made by the same firm are as follows: new
! residence on the east line of Webster street, 80
| feet south of Green, size of lot 81 :6x90 for
| $4,000; house OF nine rooms on the east
for $4,000. lot 26x100; house of six rooms
| and lot 25x93, on the south line of Green
| street. so feet east of Larkin, for $4750, and q
| lot 25x12O, on the west line of Tenth avenue,
| 275 feet north of California, for $500.
| Shainwald, Buckbee d Co. will hold pro-
| bate and miscellaneous auction sale on Thurs
day. July %. The properties to be offered at
| probate sale include those OF the estates OF
| Timothy j. Giblin, w. H. Churchill, Mary I.
| Thompson and Patrick Cummins. Embraced
| in these offerings is property at the southeast
| corner of Clay and Ieavenworth streets, the
northwest corner of Haight and Broderick and
| the southeast corner of Mission and Twenty
| second streets, as well as several inside par
| GELS The miscellaneous list comprises the lot
| and brick building at 704 Sansome street,
| property on Natoma and Mason streets, the
| northeast corner of Clay street and Central
| avenue and adjacent pieces ana Richmond
| building lots.
| Jacob Heyman reports the sale OF lot on
| the corner of Douglas and Twenty-third
streets for $500; also a lot on the north side
of Elizabeth street, 200 feet west OF Hoffman
avenue, for $3.50.