Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-15
DELAY IS EXPENSIVE
Avenue Realty Values Grow
While Government Waits.
ECONOMY IN QUICK BUYING
Hepburn Bill Points Way for Saw.
ing Public Money.
FIGURES APE IN IT'S FAVOR
What Some Of the Owners in Squares
$40 and $50 Are Asking for
Their Property.
FIGURES APE IN IT'S FAVOR

The deeper the question Of real estate
values along Pennsylvania avenue is
probed more certain it is that the govern
ment must either acquire at an early day
and all together the territory provided for
in the Hepburn bill or pay much higher
figure with each passing year. Attention
today is given to squares $40 and $50. The
first fronts on Pennsylvania avenue be-
tween 10th and 18th streets and extends
back to c street. It is directly next to
the Post Office Department. and conse-
quently it's value has enhanced since the
purchase of the Post Office Department
square and the one directly south of it.
This square contains 1924 feet, assessed
at $500, All, or about $4.s1 a foot, for the
ground. and 500. 400 for the improvements.
or about SOILS or 1851 a foot for BOTH
If the two-thirds valuation basis for as
sessment is correct, the real value of the
the ground, and $437, 1850 or about $9.461a
an average foot, for both ground and i'm
prOvementS.
The proprietor of Harvey's claims, it is
said, that his property is worth s2OO,Ooo.
It is assessed as containing 1901 square
feet, at $26.274. or $3.50 for the ground.
and $1,000 for the improvements, or about
$1O77 a foot for. both, making its real
value, If the assessment were made on the
two-thirds basis. just $39,411, or about
$1275 a foot. for the ground alone, and
$49,911, or about $16.21 a foot for both.
The price asked by the owner Is at the
rate Of $64. 20 square foot: and 1t Is said
that he claims to be justified In this by
the fact that he paid $780, 600. or ABOUT
s43.68 a foot, for the property. and has
since expended in its improvement $SO'OOO'
thus making it's total cost to him $1So,OOO.
or about $685. a foot.
Difference in Area.
There is a peculiar fact observable in
connection with this property. Lot 6. in
which 1t is located, is divided, according
to Baists real estate atlas-surveys OF
Neutrality-suspicious. l, into four sub
divisions, consisting. respectively. OF 1882
feet, 1904 feet. 2.4S6 feet and 1928 feet.
The owner of Harveys claims his lot is
% feet wide, fronting on, Pennsylvania
avenue, by 131h feet on 18th street, which
would give 1t an area of 1852 square feet.
make the assessment rate about $6SO
foot for the ground, the real value, on the
two-thirds assessment basis. about $lO.2O12
a foot, it's cost to the present owner about
$34 90 a foot, and his asking price about
$51.79 foot. The assessors records,
however, show that the lot contains. as
already stated. but 3.O91 square feet.
while the remaining three contain. re-
spectively, 2,119 feet, 2.4S6 feet and 3. AL
feet No explanation Of this variance has
been offered.
A representative of the theater property,
which, according to the tax assessor 8
records, contains on the avenue side 2.119
square feet, the rear being situated on an
other owners ground, states that two
years ago $4,000 was refused for the
avenue property, which is assessed at
improvements, making a total of SIS,
or about 81 Al a foot. The theater proper
is located on lot belonging to another
proprietor's holdings, which in all contain
10, $40 feet. assessed at 1894, or about $50
a foot for the ground, and $4,000 for the
improvements, which, if two-thirds of
their actual value. would be worth $685.
4S6, or about $6.O5 a foot, for both. This
proprietor. however. asks $4,000. it is
said. Cor his entire property, or about
S9.4Ok a foot for both ground and i'm
pTovements.
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