Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-04
View on Michigan Looking Capitol
AVENUE PROPERTY SALES
SHOW UP WELL FOR YEAR
In Good Current Demand Despite Trend of Busi-
ness to Other Streets and Steady
Growth of City.
oHE recent sale Of piece o
property on Pennsylvania av
enue between 18th and 13tl

,-HE recent sale of piece Of
property on Pennsylvania aV-
enue between 18th and 18th
streets, when taken in con-
nection with other transactions
nm that thorouehfare and recorded dur
ing the past wear, is significant as show
ing that whatever may be the conclusion
reached on the much-debated question as
to the future of such property at any
rate it is certainly In good current de-
mand.
IA comnared with and G streets, Tor
example. or perhaps with some OF the
streets connecting these two thorough
fares. the record for the year that Is
drawing to a close in the operations In
realty on the Avenue may not stand at
the head of the list. but at the same time
enough has been done to show that
Pennsylvania avenue property Is still an
active factor in the market for what
might be termed high-class realty.
There is, perhaps, no section OF the
business portion of the city that has un-
dergone more radical and to some ex-
tent more changes than has been the
case with property along pennsylvania
avenue.
From being the leading business street
of the city. 1t has come to play Sec
ondary part as far at least as the prin-
cipal retail business Of the city is con-
cerned This has been due to several
causes, the main one being probably the
great growth of the city, the spreading
out of its area, and In consequence
natural increase in the locality where the
main commerce of the city Is located.
While these changes have been going on
people have asked what will become OF
to be abandoned or will 1t sink to lower
uses and GRADES?
Great National Thoroughfare.
Some have answered that and similar
questions in the Affirmative. but perhaps
the most usual reply or explanation Of
the situation has been to say that the fu-
ture Of the Avenue would be to see 1t as
place for curio and souvenir stores, re-
sort for the sightseer, but still the great
national thoroughfare connecting the
Capitol and the White House. Its promi-
hence at night has also attracted atten-
ton. and 1t has been compared In this re-
spect with Its young but successful rival.
F. street, which at night appears desert
ed, while the broad Avenue is teeming
with life and brilliant with light and
color.
However. whatever may be the course
OF the development of Pennsylvania ave-
nue. or the beliefs and fancies In regard
10 it's future, the record Of the transac-
lions made In property situated on the
Avenue and confined to the past year
practically conveys its lesson and points
out the future of the street perhaps in
more satisfactory fashion than anything
else that can be cited.
At any rate. the course Of the market
is pretty good evidence to the minds of
many people OF what is going and
what form future events will assume.
During the past eleven months the
transactions, as far as number OF pieces
of property Is involved. were more numer-
Gus in the western portion of the square
occupied by the building Of the Southern
Railway Company, at the southwest cor
ner of Pennsylvania avenue and 18th
street. than in any other one square on
that thoroughfare. The Importance of
that circumstance Is lessened in its gen.
erai application by the fact that the en-
tire series OF purchases was made in the
one interest.
Value of Property.
The prices paid in order to secure the
entire holding were not announced and
only nominal considerations were placed
in the deeds. but the common talk about
the transaction at the time ran into high
figures. While this purchase was In
progress the commission appointed 70
condemn. for the use of the public. the
five squares between 14th and 18th streets
and extending from Pennsylvania avenue
south to the Mall was taking evidence
with the view OF ascertaining the value Of
the property in question, and as what
the witnesses had to say on this subject
was published the public had another
source OF learning about land values
along this thoroughfare.
At the same time the actual transac-
tions made the year one Of the most ac-
tive in the history of the Avenue, which
does not mean that there We're a large
number Of deals. as Pennsylvania avenue
property has for many years back been
looked upon as investment property and
therefore has been always closely held.
To this day. therefore. quite a good deal
Is still owned by estates and individuals,
with the title in one family for genera
tons The principal scene Of the buying
has been the square on the north side
of the Avenue between 10Th and 18th
streets
Last week a. sale was announced OF No.
1920 Pennsylvania avenue. having
frontage of % feet and an area of 1875
square feet The price paid was about
S2s per square foot. Last spring the adj
joining property on the east. namely. No.
122I, was sold, and for the area of 2,eO7
square feet. $23 per square foot was paid.
although the total amount involved in
the transaction was within few thou