The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-05-23
REAL ESTATE NEWS
AND MANY RUM0RS
Lcwenburg Has Made An Invest
ment Which May Be Turned
Into Anything.
OPTION HOLDERS RETlCENT
The Seventeenth Street Flurry
and What 1t Means Up to
Date.
OPTION HOLDERS RETlcENT

That there are sorle extensive deals
in real estate hanging on the strings Of
real estate men and the option holders.
no one doubts: but that amy denis OF gl-
gantic proportions have been closed with
in the past few days ID einphatlcaly
denied by the men who are IN posi-
ton to, know all about It. Teeir denial
is backed up by tho fact that no big
deeds have been offered for record
There are all kinds of talk about extern
sive deals on Seventeenth and Eighteenth
Streets, and there are any amount Of
run1ors but the idea advanced that oil
of wholesaling Cary Street Is going to
take itself up In g. lump and move to
Seventeenth and Eighteenth Streets Is
bosh.
The simple fact Is that several commits
sion merchants intimated to a well known
real estate concern that II they could get
good stores In that locality; II the Chesa.
peake and Ohio and the Seaboard Air
Line Railway Companies could be In
duced to build tracks to their store doorsi
II capitalists would buy the property
and erect good houses on or near tho
supposed tracks, and II this thing and
that thing and the other thing We're done,
they would be willing TO leave Cary
Street. rent in the territory named and
do nll in their power to transfer the
commission business from Cary to Seven
teenth and Eighteenth Streets
An enterprlsing real estate firm, thlnle-
ing the proposition was Mt least worth
looking into, proceeded to take peep.
This firm obtained options on several
pieces OF property In the nesghborhood
named and was fishing for others when
the secret leaked out--leaked out, IT rs
alleged by the firm, through a serious
violation OF confidence rcposed in the
too eager reporter OF an afternoon paper.
The negotiations are now said, to be off,
at least for the present, because the SEN
satlonal guessing as to all Cary Street
moving and big new enterprises spring-
ing up on the ground now occupied by
tumble down shantles and disreputable
rookeries, put all kinds of hfalutlng no
tons In the heads OF the owners OF the
same. and their figures are now simply
out OF tho question.
When the wild rumor about the Cary
Street commission mon exodus and the
establishing OF big factories on Seven
teenth and Eighteenth Streets shall have
sought their level the negotiations for
the transfer of small amount Of Seven
teenth and Eighteenth Street property
may be resumed. some sales may be con-
summated, and IN duo time several COM
mission merchants may have offices down
there; but up to q late hour last night
not a single deal had been closed, wild
guessing and alr-bubble speculation to
the contrary notwithstanding.
Another wild story In the air Is to
the effect that Mr.. Lowenbe1s, OF Nor
folk, who has recently purchased some
property on West Main Street. near
Adams, ia going to build aSchubert-
Belasco theatre. Tho rock bottom truth
about this deal. ms stated In The Tines
Dispatch ut the time. Is that the pur-
chaser Of the property had some Idle
money, which he wanted to invest IN
something good. He believed Richmond
real estate was something good ana
he instructed an agent to buy for him.
He, of course. wanted sufficient num-
her of feet of realty together to be able
to convert the property to any usts that
to him might seem progressive and pro-
0table and hence three lots belonging
to two different people. were grouped,
and Mr.. Lowenberg bought all three 1t
ia now a big lot large enough for
theatre, Il hotel livery stable or
truck farm, and the purchaser Is thus
in position TO handle It for any pur-
pose that may seem to him best. For at
least fifteen months yet It will remain
lust exactly as 1t is, for 1t has already
been rented out for about that length
of time.
All OF this talk about fl real estate
furry Ia premature. The truth Is, very
few transactions outside of suburban
property have been made for week
mast. Some are on tho string. but too
much talk is we'll calculated to snap
a real estate string.