Los Angeles herald., 1907-03-31
BRIGHT FUTURE
FOR REAL ESTATE
OPTION SECURED ON BROAD
WAY BUSINESS LOT
Passing Of Gray Gables Corner to Per-
n1anent owner-DeaIers In Trust
Property Are More
Active

Optimistic dealers in Los Angeles
real estate regard local conditions in
very healthy state, with bright pros
poets of increased business and profits
during the coming months. With set
tied weather the agencies expect to
close up speedily many pending nego-
tiations. The outlook is particularly
good for increased activity in tract
property, while interest among invest
ors in business fronting on Broadway,
Spring, Main and Hill streets south of
Fourth street, including frontages in
close-in cross streets, is at white heat.
An option for sixty days at consid-
GRAFTON of $4,000 has been secured on the
Frank Forester lot on the east side
OF Broadway, between Eighth and
Ninth streets. The frontage is so feet,
the lot being improved with an old
structure. Three well-known real es-
tate agencies tire in on the expected
deal. At teh end of sixty days, If the
trade goes through, a payment of $23,-
900 is to be made and Mr.. Forester
Will take a mortgage on the property
Tor the remainder of the purchase
price, which will be announced when
the syndicate takes the property. This
is one of the best lots on Broadway in
that vicinity for business purposes.
Those holding the option are confident
that the lot will be sold at a good profit
In less than the time limit of the op-
ton.
The Gray Gables property on the
southeast corner of Seventh and Hill
streets that has figured so frequently
within the past foUf years in the realty
transfer columns of the local papers,
to the profit of the sellers and the vari-
a 70 al haf
drawn down good sized commissions, is
at last out of the market. The old
frame structure is being torn away to
provide site for a modern building
to be erected by the present owners of
the lot. The Gray Gables corner may
be checked off the map now as no
longer a factor in realty deals. 1t will
be remembered that few weeks ago
Mrs. Florence Cranston paid a local
syndicate $26O,000 for the property. The
lot is 72x89 feet in size, but the widen
ing of Hill street will cut the Seventh
street frontage down to &c feet. Prop
erty owners recently were served with
notices that buildings interfering with
the widening project would have to be
moved or set back within sixty days
from March IL, and in the case of the
Gray Gables this was not deemed a
feasible proposition. 1t is stated the
Gray Gables corner may become fac
tor in the erection of a mammoth de-
partment store to extend from Broad
way to Hill street, taking in the Vogel
property that fronts or. Broadway
j.. o. Kriehn has sold to a local syn
dicate. through George A. Cortelyou
company and u. H. Gowan & Co., a
lot 1O0x140 on South Main street, south
of Adams street. Consideration $32,500,
or at the rate of 1925 a front foot.
Lazarre Guggenheim and Ben Rosin
have sold to Susanna H. Van Nuys,
through the agency of Colson, Bryen
& Donnell, lot on the east side of Fig
ueroa street, between Ninth and Tenth
for $S7, 500. The property, which has
a frontage of so feet and is 165 feet
deep, is improved with six-fiat build
ing.
Smith. & Dieter have sold for Carl
Laux to Mary L. and J. V. Rowan the
southeast corner of Ingraham and
Bixel streets for $4,000 The lot has
a frontage of so feet on Ingraham and
l20 feet on Bixel extending back to
an alley 1t is improved with six
teen-room house.