The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-04

Coming as the closing feature of what
has been the most sensational and i'm
portant individual deal in commercial
real estate Salt Lake has ever known,
and of a series of property transfers in
the local market unparalleled here in
fifteen years, Samuel Newhouse, the
man of the hour in Salt Lake. yesterday
afternoon announced the purchase of
the Bamberger corner at Main and
Market streets for S150,000.
To quote Mr.. NewhOuse's exact
words. the Bamberger corner is prob
ably the most choice business corner
in Salt Lake today" It was purchased
for S2,272.72 a front foot. The lot has
frontage on Main street of sixty-six
feet and depth of 165 feet on Market
street.
Not content with the mere purchase
of the valuable corner, Mr.. Newhouse
announces that upon the expiration OF
the leases of the present tenants of the
corner q modern store and office build
ing will be erected.
Newhouse Reaches Goal.
Now I am through was the terse,
characteristic sentence that came fror>
the multi-miliOnaire real estate napOl-
con ten minutes after the deal was
closed yesterday afternoon. as he sat in
his private office in the Dolly building.
I've got all 1 can USE he continued.
In little more than a week, with the
cOnsummate skill and nerve born of
many big deals, he has accomplished
what every business man and real
estate dealer in Salt Lake has been
hoping and expecting would sometime
happen, the opening of a real estate
activity here that promises to send Salt
I al 70 hn ton, Oft
and the advancement of local realty
values to their proper plane.
A turmoil of excitement prevails in
the real estate offices of the city. Men
who for months haven't known the in
terror of their offices after 6 o'clock are
working till the small hours of the
morning.
Property values along Main street
lave advanced $500 to 81, 900 a front foot
in sixty hours time.
By his purchase of a half block of
property at Main and Fourth South
streets last week Mr.. NewhOuse forced
the values of property in the vicinity
to such a figure that yesterday he paid
fully 81 900 more a front foot for the
Bamberger corner than he would have
paid had he purchased it the first of
last week.
Salt Lake has never known such an
awakening as that which at present
prevails in its realty market. Mr.. New
house has achieved a remarkable place
as a property holder in Salt Lake, and
to his daring moves, eliminating in a
final bold purchase, is due what will
unquestionably be the most wonderful
strike toward metropOlitanism the city
has ever experienced.
Not Less Than Ten Stories. Z
The two splendid office structures to
be erected by Mr.. NeWhOuse on his
Main street property will be ten full
stories or more each. This was the
statement made by the multi-million-
aiTe yesterday. The announcement
that one of the buildings would be but
eight stories is mistake. Both will
be at least ten and probably twelve
stories. Mr.. Newhouse has wired east
for his architect to come to Salt Lake
Immediately and look over the ground
for the buildings.
The statement made last week that
the Walker corner purchased by Mr..
Newhouse would be improved with
hotel building was positively substan-
tiated by the latter yesterday. Other
improvements will undoubtedly be made
on the half block purchased by the min
ing magnate, but their exact nature has
not been determined upon.
Following in the steps of the million
dollar deal has come a hest of transfers
in the local market
The dealers have been working night
and day and yesterdays sales and pur-
chases form a record breaking page.
The George orton-Norri property,
Immediately south of the former Walk
er Brothers corner at Main and Fourth
South streets. has been purchased by
j. r. Walker for approximately s115000.
The property has a frontage on Main
street of 165 feet and a depth of $50
feet.
Adolph Fleichman, of Los Angeles,
had listed his Main and Fifth South
street corner with Little & Little two
months ago for $4,000. That firm sold
the corner to M. B. Lfchtenstein last
Saturday for that price. When Mr..
Fleichman was wired he refused to
confirm the sale. and took the train for
Salt Lake, arriving here yesterday. He