The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-04-08
GRACE St. REALTY
CHANGING HANDS
Theater Project. Stimulates
Market and Several Sales
Are Put Through
CANDY MAN ACQUIRES
P ROPERTY IN VICINITY
Adjoining Residences Are Al
J so Sold at Up-to-Da FL
gures--Academy People
May Enlarge Playhouse

II a man IL looking FOR a perma-
nent lease, he had better own has
place OF business
Suiting action to these words, Eli
Sheets, OF Washington and Ricbmend,
proceeded to bug himself a phase ior
business at s15 East Grace street,
AFR, Sheets came down TO Richmond
several months ago. incidentally he
Is behind the Martha Washington
Candy Store, which mas been doing
business Tor some time at the south
east CORNER OF Grace and Eighth
streets. Recently he received notice
that he would have to varnoose, IN
asrnuch Henry {. Wsiiersteira
owner Of tie property. had practically
completed plans 10 build a theater on
that corner
Mr. Sheets got busy and after con
salting that hustling hrra OF realty
agents styled Pollard and Bagby." Il
took him but short while to come
into possession Of the residential PROV
erty at Ile East Grace, located thyee
doors from the southwest corner OK
Grace and Eighth streets, The prop
erty, brick dwelling. VIII coon TO
converted into a candy store. II cost
him $4,000, and faces 20 feet on
Grace street. with q depth Of ~ feet.
About the same time, c. X. Nuckols
got busy and acquired the adjoining
brick residence at Ill East Grace
\ fer the gum or $40. o6o And to make
the deal com plste, p. ". Hesseerg
planked down $50. 900 for the corner
residence which belonged 10 NJ
Irichton. This property: the old home
OF Captain Andrew Pfzzlni, was for
sale on the market four years ago
for sio,6oo, Ii was not sold then but
later brought $4,000. and still later
$4,000. X is thus seen that the prop
erty has enhanced In value to the ex-
tent OF about $4,000 In four years.
1t was reported Saturday that Mr.
Hessberg has been offered $4,000 for
the property since he acquired IT, but
the report could not he verified
Theatre Starts Activity,
These deals are declared to have
been the direct resul; Of the announce
nent that sir. Walierstein would erect
playhouse at Eighth and Grace
streets. directly across Eighth from
the residential property that chang ed
hands. IL Is the declared purpose Of
Mr.. Wailerstein to erect a $4,000
playhouse on the site in question and
II Ii stated that he has already signe q
papers with the Leath syndicate
whereby he viii derive an income of
$4,000 per annum from the theatre
tor the next fifteen years, that being
the duration OF the lease The site
OF the proposed theatre with a front
age Of 81 feet on Grace street and a
depth OF ia feet along Eighth street,
cost Mr.. Wailerstein IA total OF SOS GOO
And Of this sum. he paid $40. 900 for
the two oldfashioned etucoo brick
residences occupying the rear OF the
"a g nd "a fFFn -se~H ~,
Mr.. Wallerstein pnd his friends are
confident that 'hv protests egains,
erection OK his PLAYHOUSE at Eighth
and Grace viii not materially inter
fere with his plans. The theatre VIII
he light variety playhouse and ss
the neighborhood Is no longer Il resi-
dental section in the strictest sense
of the word he does not think the
prntestants will he ahla to muster d
strong opposition. As for opposition
from the two churches In the vfcinite,
that is matter which will have to
he handled with perhaps greater
Nnfrltn1azy' 1t Is Tact. however, that
there Is no legal reason why the
theatre should not 60 up on the site,
as Mr.. Wallerstein plans.
May Enlarge Academy
~ was learned Saturday that the
Academy ~ Music people are dieker-
~ Ing with r. T. Peters atth a s'!ep4a .sf
acquiring a portion OF his property on
Eighth Street Immediately adjoining
the ACADEMY on the north eide The
plan is 10 enlarge the theater on that
side so that II Will have an additional
frontage Of fifteen feet. The plans also
INCLUDE & ladies dressing room IN front
and plate glass entrance effect.
which Mr., Peters would use partly for
display OF his goods after his store ts
resnodeled IN Keeping with the theater
plans. After selling fifteen feet TO the,
thrater, Mr.. Pters would have eth
have frontage Of twenty-five and a
& depth Of more than no feet for bust
ness purposes. II is expected that he
and the theater people viii reach some
agreement in the matter within the
next few days. Meanwhile, several
new stores are going Gp in the i'm
mediate vicinity. Next TO the Peters.
establishment. Or. Juo B. Wood is
clearing away debris for erection Of
three handsome three story brick
stores These structures Will be To-
TAt~d directly in the rear OF the pro-
posed Wanerstein thcater
Peters VIII Build
Directly across Eight Street, a sin
gle brick store with apartments above
In already In course OF construction.
few steps down Eighth on the same
side OF the street. Dir. Peters Is plann-
IA ~ 1sFtt u &9bItN G1 stores On n
pifceIo OF residentiaI property which he
OWLS. The present tenant OF the rest.
dence holds lease until next septen1-
Der and AIR, Peters declares that III.
Will lose no time In putting up hsg
stores ~ soQn ~ the property is Naoats.
90 The property has a. frontage. q ~
Feet ard depth az sc5 feet
Bidding fair TO uutstrip Henry wal
ierste.n rs the Napoleon OF the Rich
mond realty field. NJ L. Hothe.rn4r
forged into the iiinelight again hv dis
posing Of Bslyidere Haii during the
: week at q hgcre considerably In excess
81 his purchase price. A year or two
ago. Mr., Hotaeiuler gave sylvester
Stokes $4,000 for this properly which
~ located on West Main street IN the
vicinity OF Monroe Park. A few. DAYS
ago, he traded II for certain property
In the City Of Washington. 70 c
whose value IL placed at $4,000
Extend Mon auseNt Avenue
Out In the West End attention was
chiefly centered about the proposed ex-
tension OF Monument Avenue fror,
Rcssnenth read 10 Monument Heights,
4 z distance Of something HE ,wo
fntiea- 1t appears that the only
stumbling block in the way OF this pro-
3ece = the property of W. r.. Forbes
fActng Monument Avenue at tho in
fecAAction Of that thoroughfare and
10aeneath Road. Mr.. Forbes. IL IL
Yn4erstood. 10 holding out for $4,000
\ mr. his property which has depth Of
Y Lt00 feet. Beyond hts property. the