Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-18
REAL ESTATE GOSSIP
Significance of a Recent Sale of F
Street Property.
INVESTMENTS IN BUSINESS SECTIONS
What is Accomplished by Rapid
Transit Street Railroads.
S O NJ E n E w BUILDING S
SOME NEW BUILDING S

Perhaps the most interesting transaction
in real estate during the past week was
the purchase by Mr. William Gait of the
property at 1909 F street. There are sew
eral reasons why more than usual interest
attaches to this sale, and probably not
the least important of which is the fact
that Mr., Gait is known as a careful and
conservative investor. He has large in
terests in real estate in this city, and is
therefore in a position to form a pretty
good estimate of property values. On this
acc cunt the price which he paid for this
property, S45,OOO may be regarded as sig
nificant.
The lot has frontage of twenty-sx feet
and depth of eighty-two feet, the total
number of square feet being 2,192. On this
basis there was paid fer this property
little over $40 per square foot. The build
ing is valuable one.
The last sale of real estate in this block
was made two years ago, when the building
at 1927 F street was sold at public auction.
The lot is larger one than that of 1909,
and has frontage of twenty-seven feet
eight inches by depth of one hundred
and thirteen feet eight inches.
Another Piece of F. Street Property.
sale were of such a character that they
could not be said to have value. The
price paid was therefore for the ground
alone, and the aggregate amount which
was bid by the present owner. Mr.. r. l..
LorinS of New York, was over $4,000,
which was at the rate of about s14 per
square foot. The sale occurred at the time
when the financial conditions here were not
as favorable us they are now, and the prop
erty was IN a measure forced on the mar
ket. Mr.. Loring has since erected fine
business building on this site, so that the
entire investment represents less than
SSo.HD. 1t is said that it now yields a
good percentage on a much larger amount.
1t is evident from these figures that the
values OF r street property have been very
fairly maintained in spite of the financial
depression from which it is believed this
city and other places in the country are
but just emerging. 1t is the opinion CT
those who are in a position to form n re-
liable judgment on such matters that the
price paid by Mr.. Gait is very fair one
Tor INSIDE property on + street. 1t is be-
lieved that property located in the central
portions of the city is bound to appreciate
and it is thought that as business revives
ard new enterprises are started that there
will be tenants for business property who
VIII be able to pay rentals that will jus
tify not only the present, but even add
vanced values.
Transactions in property along F street
have not been numerous recently. The
last sale reported occurred September last,
when the property 1924 F street was pur-
chased by Mr.. Keogh.. The lot has a
frontage of twenty feet and a depth of
eighty feet and the price paid was SAG 900.
In this case, however, the building was a
valuable one and was under good lease.
WINCH or course, had an effect on the
price paid
There was another sale during the past
week in the same locality, which was of
some Importance. Radcliffe, Sutton & Co.,
auctioneers, sold at public sale the prop
erty lib e street northwest to A. Behrend
for Sl,O CO. The improvements consist Of
four-story store and fiat building. The lot
has frontage of 20 feet and a depth of
so feet. and the rate per foot was SD
These figures have bearing on the cur
rent values of property, and while there
may be circumstances which modify their
Importance In fixing the standard prices
for the market, still they can In a great
many ways be looked upon as showing the
present tendency Of real estate values in
that business section of the city. In many
particulars pieces Of property must be
judged separately, as there are features
which cause their values to differ very ma
terially when one is compared with an
other.
Influence of Rapid Transit.
transit on street railroads on the value Of
property is a subject that is discussed
good deal, and it may be said that there
is considerable difference of opinion. 1t
is, however, believed that such street rail-
road systems, as they tend to bring the
remote sections of the city near to the CEN
ter, will serve to enhance the Importance of
the central portion as q business section,
and as result prices of property will re-
main firm.
The rapidity with which people can be
brought from the suburbs into the heart of
the city and from the farthest points of
the city itself and the surrounding region
to the center of population is having a
marked influence not only on property at
both extremities, but on the intermediate
property. Rapid transit is by some held re-
quite recently developed on the part of
quite number who have given up houses
in the intermediate resident section and
nave gone out to what was formerly look
ed upon as the suburbs 1t is, however
said that the attraction has not been so
much the rapid transit facilities as the
new houses which have been erected in
those localities. and which people in many
cases have preferred to the older resi-
dences.
1t is claimed by some that If the old
houses We're placed on a par with the new
houses by making improvements and alter
atoms In line with modern ideas the newer
houses would not prove such an effective
lodestone in drawing away tenants. How
ever that may be, 1t is quite evident that
changes are, going on affecting property,
and 1t may be expected that DEVELOPMENTS
in the future will be of great interest
About Lincoln Park.
Reference has been made to the influence
of the extension Of the Metropolitan rail-
road. both at the end of the Connecticut
avenue line and at the end of the East
Capitol line, the latter going from 9th to
18th streets. In the latter section the new
area which has thus been opened up by a
modern railway Is developing rapidly, and
this Is more especially true in the imme-
date vicinity of Lincoln Park, where
stands the bronze monument to President
Lincoln. The park hiss been greatly i'm
proved. and is now attractive bit Of
landscape gardening.
Even before the extension of the road a
number Of residences were erected facing
the park, and among the homes are those
of Mr.. Fowler, Mr.. Hepburn and Mr.. Not
tingham. Near by on 18th street stands
the fine residence Of Mr.. Albert Cary. Re-
Gently, however, the improvements have
been quite numerous. At the corner of