Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-06-23
GILT-EDGE INVESTMENTS
PROPERTIES IN THIS CITY'S
BUSINESS SECTION.
Recent Sales Confirm the Optimistic
Opinion Of a Local Operator.
The Field.

THE recent sale of business property on
New York avenue" said a big operator in
this class OF city property to a Star re-
porter. where the purchase price paid on
an auction sale under deed of trust som
months ago was more than doubled on pri-
Vate sale, confirms my previous conclu-
slons regarding the f1xity Of the values of
business property in the capital, that bust
ness property in desirable locations in
washington has been held at a normal an n
not an extravagant figure, as some have
tnousnt. and was at all times a gilt-edge
purchase for permanent investment
And then the reported sale few DAYS
ago or the Fifth Avenue Hotel property at q
street, Broadway and 5th avenue in New
YORK. at stated price Of $7,OOOOOO, Is In
GIrect line with the sale of the Wash
1ngton property I have mentioned and SIM
ports similar prtnciple-the advantageous
employment of large capital in investments
IN good business property in the trend of
the development In municipality.
Splendid Future Prospects.
The splendid future prospects of the
capital in general a business and a
residential center, and specifically as to it's
business section, are such as to encourage
both local and outside capitalists to select
1t as medium of certain and secure invest
ment for capital to any amount, and it is
especially noteworthy that several of the
heaviest sales which have been made re-
Gently have gone to capitalists from other
cities who have, with clear-sighted vision
into the future. diScerned opportunities
here to place non-interest- bearing money
elsewhere in our own firm and solid real
estate investments.
Indeed, 1t is fact, as I am brought into
daily contact with this desirable class of
investors that capitalists from the out
side consider that the business pronertv
in Washington is held at a moderate figure
as compared with other cities of approxi-
mate population. and If they were not sin
cere in this opinion they certainly would
hundreds of thousands of dollars in realty
purchases and also in trusts
This may be accounted for in many
ways, but one which is usually overlooked
IS that the business area must of necessity
become In the future very compact. With
necessarily increasing values.
A Compact Business Center
For Illustration 1t may be said that the
active business center begins at 7th street
northwest on the east and substantially
ends at 10Th street on the west, with Penn
sylVanla avenue bounding it on the south.
though of unlimited expansion on the north
- tehheo SiSeil iildHy years, and in
some instances decades. for business cen
ter to jump, as it WERE an obstruction
and the tendency Is to build in the air
rather than to go around or to jump At
18th street the park the Treasury build
ing, the White House grounds and the war
State and Navy building operate as bar
riers to immediate expansion in that direc
ton. With the exception of the blocks
bounded by Pennsylvania avenue. Madison
place. New Hampshire avenue, I and 18th
streets, the park spaces including Lafay-
cite and Franklin squares form the north
west boundary of our active business CEN
ter, and by reason Of this topogra phical
situation the hand of man and the march
OF improvement cannot change existing
conditions. which all tend toward comnact.
ness and Capitalization in one quarter.
Prices Are Held Firm.
There are thus created naturally cir
cpmscribed limitations. which makes to the
investor an especially fine field for invest
ment for score Of reasons. one of the
principal Of which Is the practically fixed
and unfiuctuating immediate and future
values, most important desideratum in
the matter Of heavy financial Investments
in realty.
This Is also one of the causes whv the
market for this class of property is now
very steady and stin-in fact, with upward
tendencies. Prices are held very firm. and
there Is little disposition to sell unless the
sellers price Is accepted, and he is usually
Indifferent whether the figure he names ia
acceptable to the intending buyer In
other words, the anxiety to dispose which