The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1906-12-30

The greatest year in real estate Wash
ington has ever known closes in holiday
dullness. This week and last little has
been done by any of the local firms. ex-
/ cept to close up the business Of the year
and lay plans for continuing the activity
% the past twelve months through 1907.
Brokers feel cheerful and confident that
the general expansion Of the city will
continue. and that there viii be good
market during the coming year
Nothing now IN sight. they say. can
head of the activity Of real estate. except
great money stringency that would. shock
the financial world and lead up to a panic
similar to that which visited the country
in 1888 10 1886. The troubles in Wall street
which have adversely affected the money
market at the close of the year do not in
the least Brighten dealers In land and i'm
proved property, as they say the invest
ments in this class CT property do not
come from the specializing class. 1t is,
rather, persons to whom the prosperous
times have brought surplus money who
are seeking to buy property In Washing
ton. which viii not disappear with the fic-
ttiOus values Of stocks and bonds. Local
brokers expect to see home buying cou-
tinue. and investment in good business
properties 90 on. in spite Of the high
prices now prevailing.
Year "a Record Breaker.
The year 1906, while It has been record
breaker In Washington. has been in no
sense boom" period as that term is
usually applied. The sale Of property has
not been in the nature Of the development
Of property bought in the suburbs AT a
low price and palmed of upon green
horns az fictitious prices. Holdings in all
parts OF the city and surrounding District
have changed hands Business property
has been more active than ever before at
advancing prices; residences have been
sold, both newly built and old. at good
figures; lots within the city limits and be
yond have been purchased extensively for
purposes Of improvement In fact. there
has been no class of property more than
another that has been thrown upon the
market. It might be said that the move
ment of home buyers toward the suburbs
has been steady and continuous through
the year. but this is a movement discern
IDLE I'm all cities brought about by the de-
veloPment Of rapid transit which has
made it possible for the city dweller TO
live far from his place Of business with
out Inconvenience and with many advan-
taEes 20 himself and family.
As result Of this movement there never
were so many houses IN Washington lying
idle as this winter, but the movement has
not as yet assumed proportions that
threaten to any appreciable extent the
rental value Of city property The going
Of so many families TO the edges Of the
country has left many old houses empty,
and these VIII have 10 be improved before
they VIII invite tenants Possibly many
Of them viii be sold where the present
owners are unable TO remodel them, but
that movement has already begun. and
it win not end until much Of the old and
undesirable property along the principal
streets Of the Capital has been rebuilt
and put In condition to invite rental by
persons Of moderate means who want
comfort for the rent paid
business Property "a Feature.
The most striking feature Of the years
real estate market is the many sales Of
business property. While nearly all the
property for sale between PENNSYLVANIA
avenue and II street, in the blocks be-
tween Thirteenth and Fifteenth streets.
has been sold during the year. and while
new banks and Office buildings are rising
in that locality. the sale Of this class Of
holdings have by no means been confined
to that territory. High prices have pre-
vailed there, as elsewhere. but property in
all parts Of the city has changed hands.
and as many pieces more are being built
upon by the owners. or old buildings are
being remOdeled TO meet the enIarging
demands of business.
Among the big deals Of the year NAV be
enumerated the purchase Of the old Co
lonial Hotel. on the southwest corner of
Fifteenth and H STREETS, by the Union
Trust and Storage Company for $4,000:
the purchase Of the Hotel Barton prop
erty by " 3. Hibbs & Co, the alleged
sale Of the Home Life Building for $3.50. 600.
which has not yet been completed. and
the taking OF an option on the George
Washington University site at $50 a
square foot Other sales I'm the business
district which have attracted attention
are the northeast corner of Fourteenth
and F streets for $3.50 900. the sale of the
site of the Hotel Randolph, at the corner
Of Fourteenth street and Pennsylvania
avenue, for S275,0o0 and the transfer of
several lots in the commission house dis
trict, involving an outlay Of $4,000
The largest sale Of the year In residence
property was that OF the Tuckerman
home, at the southwest corner of Six
tenth and I streets. TO IIenry Kirke for
$500, 600
Sales by z. c. Brainerd.
f. c. Brainerd yesterday stated that
he hsd placed on his books the best bust
ness since he opened mis- office. He says
the outlook for the coming year is good.
and he expects TO see a large number Of
wealthy men come to Washington to in
vest money in real estate. Among his
important sales for the year have been:
To Joseph c. sibley. IT'S Massachusetts, avenue.
for $4,000
To Gen. Gillespie, 1888 New Hampshire avenue.
for SO 600.
To B. f. PiIson. the former home Of Thomas F.
Walsh, corner Of Phelps place and Leroy street. for
$4,000
To Charles E. Foster 1881 and 1899 C street, for
S0GOO
ScTeTal apartment houses. for which he received
from $4,000 to S9)O3
David Moore Optimistic.
David Moore stated that he had found
the year the largest il ali his experience
in the real estate business in Washing
ton. He expressed the belief that there