The San Francisco call., 1907-01-26
Demand for Water Front
Property Is Growing
Wholesalers, Anxious to Get Near Docks
and the Railroad, Create a Boom


rroperty today than at any other time
in the history of the city AT nrst
the demand was confined 10 NOrlh
Beach. but the movement has spread
south, and now big offers have Deen
made and refused for land In East
street
II is reported that two persons asked
an owner in East street II he would
consider a proposition OF $4,000 front
foot but were told there was no In
rentfon on his part OF selling any OF
his holdings along the front
This boom has been caused by the
whoIesal lers. who are anxious 10 De
near the docks and also 10 the rail-
roads The failure 10 get property
along the front has created a boom
along parallel streets and there has
been q big demand for lots on SteuarL
Battery and Broadway, and, In tact'
fn All the district contingent 70 the
water front AS an evidence or the
worth OF property IN this section may
be mentioned the sale at the corner OF
Battery street and Broadway where
60 odd feet front with depth OF 100
feet was sold for over $4,000.
The new owner OF this land intends
% put I'D q class A building, which has
already been leased at s big rental 10
TWO manufacturers. This part OF the
city win be far better built than il was
tlvIty In rebuilding on the street from
East as far west as Sansome and north
from California than in any other por-
tion Of the business section.
There IS an unconfrmed report that
the Government has decided 10 pur-
chase 50-foOt frontage. 90 feet
deep on Montgomery street east Of
the subtreasUry, for s12S,OOo, on which
10 build the new subtreasury build
ing.
NEW JAPANESE DISTRICT
The sudden boom IN property in
South Park. which puzzled all real
estate dealers. has been explained. IT
Is said 10 be due 10 the Japanese, who
have had their agents buy and lease all
the lots that were available. Several
big deals have been made during the
week. not by the Japanese themselves,
but through white agents, who are
supposed 10 have done quite well in
acting for their clients.
South Park, according 10 those who
believe they know what they are talk
ing about, viii be a regular Japanese
city. IT is said further that the Japan
csc intend TO make that cltmatically
favored spot one OF the most pic
turesque sections bf San Francisco. 1t
Is said that the japanese viii build
pretty homes there, viii lay out the
park and maintain Il like a garden,
and viii establish their art stores IN
handsome buildings. The proximity TO
the Mail dock viii help 10 keep busi-
hess there. AS South Park IS easily
accessible. the japanese say that Gus
toners viii come there, and what VIII
be an added ATTRACTION is the fact that
q viii 10 a typical though a modern
Japanese city.
The japanese fully realized what
gold mine Chinatown was TO the Chi
nese, for. despite its squalOr and dirt.
visitors hocked there in great numbers.
II the japanese built a beautiful and
q clean japanese town at South Park,
having stores fully as modern and as
convenient as those IN other parts OF
the city, they argue that ii viii prove
ss attractive 10 the visitor as was the
old Chinatown. The purchasing and
the leasing OF South Park property
has been conducted with great secrecy,
but II is said that pretty nearly every
desirable lot has been taken and that
building will be commenced there
shortly.
SOUTH OF MARKET
There has been a steady rise in
value OF land south Of Market street
and Fourth street is enjoying an un-
eXampled period OF prosperity. There
IS e story that about two months ago
well-knOwn merchant asked the
price OF lot on this street and was
$4,000. He went away and told the
holder that he could DO better than
that Last week he sought out the
owner and said:
We'll. guess ] will take that lot"
Well what viii you give?"
i viii give you what you asked
Tor it. $4,000"
"Oh. well that was two months
ago" was the reply. There has been
p steady rise in values since then. I
tell you what I viii do. I will let
you have II for $4,000, and you can
regard ii as one OF the best pickups
IN the city"
This is the history OF all the prop
erty south OF Market II has been not
q gradual rise In values, but an un-
precedented one.
Vice President A. p Gianninni Of the
Bank Of Italy, in speaking Of the situ-
alton, remarked: .One Of the most
encouraging signs is that there is no
lack OF tenants. A building is hardly
pnentioned as likely 10 be built before
there are half dozen people ready to
take a long lease. or course, the
weather has had something to do with
the market being quiet for the last
TWO weeks, but everything is going
along satisfactorily. You can already
feel that there VIII be big boom in
building, as there are any number OF
inquiries as to the procuring OF ma
terial. / understand that q boom IN
property IN Pacific street, east OF
Kearny, has been started. A large
number OF leases has been executed
along that street within the last few
DAYS and that thOroughfare will, I pre-
sumo, be given over to that class OF
bouses which will cater TO the pleas
ures OF those that go down TO the sea
81 big ships. This much I know, tAat
there has been a big jump in values
lately and a great eagerness to acquire
property there.
"One thing should not be lost sight
o. There is no no demand for the
temporary building. Men who are do
ing business uptown and are desirous
Of coming downtown never ask for q
temporary place OF business. They all
want permanent buildings and are par
tioular as TO the character OF any they
seek 20 lease"
RETAIL DISTRICT
The fact that the dry goods house
% Sahuels viii occupy the northwest
corner OF Stockton and O'Farrell will
give an impetus TO the movement TO
build I'D Stockton street. There are
rumors that there has been q hitch in
the negOtiatione between r J. Sullivan