Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-23
REAL ESTATE GOSSIP
The Bearing Of a Recent Sale on
Current Prices.
EFFECT OF RAILROAD EXTENSIONS
One View About the Policy OF
Building Apartment Houses.
Me NEW HOU S E S

Perhaps the most important transaction
in realty reported during the past week
was the sale of the residence OF the late
Prof. c. v. Riley on Wyoming avenue,
Washington Heights, to Gen. Wheaton,
wealthy resident of Rhode Island. As
stated at the time in The Star, the sale
was practically cash transaction. AS the
price obtained was $57 800 1t is interesting
to note the value of the improvements and
the ground as they figured in the transac-
ton. The ground has frontage of 166
feet and a depth of 162 feet. Mrs. Riley,
however, retained the east so feet, SO that
the actual size of the lot purchased was
116 feet by 1852. 1t is estimated that the
ground was given valuation Of about S1.75
per square foot, which would leave the i'm
provements at valuation Of about $4,000.
1t is said that this is about what the house
and the stable actually cost. If these est-
mates represent the exact values of the
land and the improvements, it is thought
that the sale may be regarded as an eX-
ceedingly good one, especially in view of
the inactivity which exists in the real
tate market.
About Current Prices.
The remark is often made, especially by
dealers in real estate, that prices of realty
are too high, and special emphasis is laid
upon this conclusion by those who are
also Of the opinion that if prices were not
SO stiff property could more readily be
sold. 1t, however may be remembered in
this connection that there have always been
those who have asserted that the prices of
real estate in Washington and vicinity are
higher than conditions seem to warrant.
In spite of this, however, sales continue to
be made at prevailing prices, although, of
course, as stated above, during the period
of financial depression and at the present
time there is but little demand for property.
At the same time 1t may be stated that
as a rule owners of real estate seem to be
able to hold their property, and, as in other
branches of business, such owners are pa
tiently awaiting the better times There
has been no break in the real estate mar
ket, and, while there have been instances
of property being sacrificed, owing to the
financial straits OF the owners, yet there
have not been sufficient number of such
cases to materially affect the market, so
that it may be said that, while the demand
is not active, still prices remain firm.
Following Railroad Extension.
People who have been away during the
summer have no doubt been surprised on
their return to note the Improvements
which have followed the extension of the
Metropolitan street railroad from the head
of Connecticut avenue to Columbia road
and 18th Streets and also the extension from
East Capitol and 9th streets east Of Lin
~
houses have been erected, and in the for
mer case what was recently looked on as
a suburban section has now paved streets
and city car line.
Some years ago when the cable road was
extended out 14th street similar invasion
Of the city conveniences into the suburbs
followed, and since then there has been
an activity in building, which has prob
ably been far in excess of any other local
ity In or about the city. 1t must be sur
prising to a person who is familiar with
the section on each side of 14th street ex-
tended as 1t appeared a few years ago to
see the remarkable changes that have
taken place. Rows of handsome houses
ly a section of the city rather than To-
cality in the suburbs.
Proposed Subdivision.
1t is likely that an important change will
be made within this locality which will
lead to further improvements in the fu-
ture. It Is said that Mr. A. L. Barber and
Mr.. John Sherman, Secretary Of State,
who own the square at the northeast cor
ner of 14th street and Florida avenue, are
discussing plan for the subdivision OF
this property SO that 1t can be placed in
the market Secretary Sherman owns the
southern half, while Mr.. Barber holds the
title to the northern half. and on portion
of this property stands his fine residence.
which he erected few years ago. 1t Is
street through this property running east
and west. SO that lots can front on Florida
avenue and the new street. Secretary
Sherman also owns the property extending
proposition has been made to the Commits
sioners to secure this land for use as a
public park, but, of course no definite con-
clusion has been reached.
Az to Apartment Houses.
Some people who have given good deal