Evening star., 1898-12-03
REAL ESTATE GOSSIP
Recent Large Transactions in Prop
erty and the Prices Paid.
An EXTENSIVE RESIDENCE Site
Progress in Building Beyond the
Old Urban Bounds.
SOME NEW BUILDING

The feature of the week in the real estate
| market was undoubtedly the announcement
| of the sale of two tracts of land, one of
which was the Hillyer property and the
| other the Kali estate. In both cases the
change of ownership means improvement
| and the expenditure of large sums of
money.
| In the case of the Hillyer property, at
| the northeast corner of Massachusetts and
| Florida avenues it is expected by the new
owner, Mrs. Scott Townsend, to erect a
fine residence for her own use The Kali
property, which up to this time has been
held as residence site and is practically
the only piece of land abutting the eX-
treme northwestern bounds of the city that
remains unsubdivided, the plans Of the new
owners contemplate the opening of the
city streets through the property and lay
ing it out into building lots.
The Eject on Values.
Another important element in these trans
actions was the price paid, it being the
opinion that the consideration in both cases
is evidence that property values have
emerged from the period of financial de-
preston without showing much evidence
of the usual effect Of such an experience.
In the case of the acreage property it is
understood the price paid for the nearly
ten acres was at the rate of nearly $4,000
per acre.
When the ground that will be required
for the streets is taken into consideration,
the actual value of the ground, it is
figured in this transaction, will b. found
to be much greater than the amount above
given would indicate.
1t is difficult to make Il comparison in
prices, az it has been some years since
there has been q transaction in acreage
property in that vicinity, and conditions
have changed that what would have
then seemed to be high prices appear today
to be rather moderate. In addition the
Kali property was rather eXceptionable, for
the reason, as stated, that 1T Is the only
remaining piece of unsubdivided land in
that locality and is surrounded on all sides
by the city streets, and in some directions
the population has actually come up to
the borders of the land, not merely in iso-
lated houses, but in rows of city residences,
plainly showing that the period of sub
urban development is past and that il has
become part of the city.
Spacious Residence Site.
Equally interesting from almost any point
of view is the purchase of the Hillyer prop
erty. 1t is understood that something like
100000 was paid for this property, which
comprises nearly an acre of land, to say
nothing of the house, which In its day cost
a good deal of money. The value of the
latter can hardly enter into considera-
tion, for the reason that it is understood
to be the purpose of the new owner to tear
down the house as we'll as the stable and
erect there fine modern home, which will
be of a size and a design in keeping with
the spacious site and will be well the
most expensive single residence site in this
city.
The latter is a statement that means a
good deal, especially when the extent and
the costliness Of the land about the resi-
dence of Mr.. Letter is taken into consid-
GRAFTON. The latter has enlarged from
time to time the bounds of his house lot,
and now he owns a total of over 25,OO0
square feet, for which he paid the sum OF
sl52,2 go. which is at the rate of s6.Os per
square foot.
The Price Per Foot.
In the purchase made by Mrs. Townsend
there is nearly an acre of land, about dou-
Bile the size of the Letter lot, and for this
she is said to have paid the sum of about
s1G0,OO0, which IS at the rate of nearly 81
per foot For any other the Hllyer
property would not be considered as de-
sirable as the Letter, for the reason the
latter is compact piece of land, with
frontaSes on practically three streets
while the Hiyer property is of great
depth and is not suscep,f ,fble of economical
subdivision. For residence site, however
1t is very choice, and, in fact, there is not
dIlotitl DieCS VI ldi.d Ol extent li11l
is as eligibly situated in that section of the
city.
The price obtained for this property
affords a basis for comparison as to the
advance of realty in that section of the
city A few years ago what is now Kali
Drama Heights. which is on the opposite
side OF Florida aVenIe from the Hillyer
property, was sold as whole at $4,000 per
acre, price which was then considered
very high. The progress of building had
at that time rot passed much beyond Du-
pont Circle, and the vicinity of Florida
avenue looked upon as being in the
suburbs. Now. however, the line of build
ing has extended beyond Florida avenue on
both sides of Massachusetts avenue to the
circle, which has been made about in the
center of the kalorama tract. With the
erection of the proposed new bridge across
Rock creek 1t is expected the tide of pop
ulation will continue still farther out to
meet the beginnings of a settlement which
has sprung up in the neighborhood of the
Tenleytown road and the site OF the Epis-
copal Cathedral foundation.
Rows of Houses.
A row of nine three-story houses is to
be built on 10Th street Just north of Kali
Drama avenue, Washington Heights, by
John II. Nolan.
Twenty three-story houses are to re
erected on Florida avenue between I'd and
Sd streets northwest by Thos. G. Hensey
and NJ. e. Hooper, trustees.
As to Land Values.
Four lots were recently sold by r. W.
Goldsborough, in connection with Ellerson
& Wemple, real estate brokers, in what is
known as Fairview Heights a subdivision
on the Tenleytown road opposite the Epis-
copal Cathedral foundation site. The pur-
chaser was Pascal Davie and he paid
81, 800 for each lot, which are 50x190 feet.
During the past week the building 11O7
G street northwest, was sold at public
auction. The purchaser was James w
Orme, and the price paid was $50 $50 The
lot contains about ] 600 square feet the
dimensions being about 20xS0 feet.
A Frontage of $50 Feet,
An addition Is to be built to the Portner
apartment house, at the northeast corner
OF 18th and streets. which will be in fur
therance of the plan adopted by Mr. Robert
Portner when he entered upon this enter
nl.ise se,,aral Nears