Evening star., 1898-05-07
REAL ESTATE GOSSIP
Details Of a Series of Large Invest
ments in Property.
Two new APARTMENT HOUSES
What is Said to Have Been Paid
-; for F Street Realty.
H HOTEL PROJ ECT AGAIN

The event Of the week was the closing Of
series of purchases of large pieces of
property in this city by Mr.. Frank W.
Andrews Of Newport, R. l. AS already
stated in the news columns of The Star,
Mr.. Andrews is now the owner of the
Grafton, the hotel building at the corner
of Connecticut avenue and De Sales street
business building the north side of
F street, adjoining the Sun building on the
east, and the Savoy, an apartment house
en- 14th street near Binney, and one other
piece Of real estate.
1t seems that Mr.. Andrews recently sold
property in Boston. from which he realized
about half million dollars, and he decided
to invest substantially the entire amount
in real estate in this city. After consulting
with Mr.. Arthur D. Addison and Messrs
Westcott & Story, real estate brokers, he
made the purchases, as above Indicated
Yesterday there was placed on record
deed by which Arthur Herbert of Alex
andria and Dulaney & Fleming. trustees
transferred to Mr.. Andrews the title in
the property known as the Grafton. The
sale was made by Mr.. Arthur d. Addison,
real estate broker, representing Mr.. An
dreWs, through II. Rozier Dulaney, real
estate broker. The purchase of a portion
of the property fronting q feet on De Sales
street was negotiated by Mr.. Addison
estate broker. The entire property has a
frontage of SO feet on De Sales and IO9
teet on Connecticut avenue, and contains
4,SS2 square feet. Plans have already
been made for extensive improvements,
which will result in the erection of a build
ing in place of the old part of the structure
similar i'll design to the new part and one
story higher. 1t is understood that a
oeed is TO be placed on record transferring
another piece of property to Mr. Andrews.
which will complete his investments for
the present.
Some time in the near future it is prob
able Mr.. Andrews will erect a large build
ing on the site which he purchased on F
street.
More Than 100000.
While 1t is not known exactly the amount
paid IN any instance, as only nominal con-
siderations were given in the various sales,
yet 1t is said the purchases represent in the
aggregate an expenditure Of considerably
over 100000. For the Savoy apartment
house, as already stated in The Star, 1t is
currently en S reported @ that the price paid was
building it is believed the consideration
was about $S5.OO0. while for the street
property 1t is thought Mr. Andrews paid
$65 600. These latter figures are Of consId-
erable interest because they tend to show
the current value Of F street property This
particular piece has frontage 30 feet
inches with an average depth OF about 80
lecl " a tulrty-IOOt ailGy- The total area
is 2.979 square feet, and as the improve
ments cannot be looked upon as part of
the consideration. the price paid may be
regarded as what was given for the land.
If the consideration of sos 600 is the correct
one then the price per foot was $2l4O
which IL somewhat more than was paid
last fall by Mr.. william Gait for the ad-
joining piece Of property on the east, al
though in the latter case the building is of
considerable value.
This large investment of Mr.. Andrews is
looked upon as only another indication of
the high standing which Washington real
estate has It Is believed that this is only
the near future. Inquiries have been re-
ceived recently by several brokers from
New York In regard to q site for a hotel,
and while good many projects of this
character have been formed. yet It 10
thought that there II really something sub
stantial In this latest effort, and there is q.
probability that large building for hotel
purposes win be erected.
Large Apartment House.
The selection by Mr.. Andrews Of an apart-