The Washington times., 1913-05-24
MUNSEY BUILDING
/ SALE TAKES RECORD.
Under-Appraised Structure Is
Taken Over by NeW-Formed
Trust Company.
BUSINESS GOOD IN CAPITAL
Real Estate Brokers Succeed in
Closing Fifty-tWo Sales
in Single Day.
BUSINESS GOOD IN CAPITAL

Three new records for 1913 in realty
operations We're established in the third
week of May. A new high .iglre for a
days selling was hung up. The total
number of transactions for the week
exceeded the business of my previous
six days of the year The sale of
greatest magnitude of the year was
closed in the past Six days.
The purchase OF the Munsey Building
from Frank A. Munsey by the newly
esta blished Munsey Trus; Company IT
N.ooo,00e, although appraised by inn
partial experts at sl.152 $40. is the high
est priced sale of 1918. 1t ranks also
as the third largest sale of an indi-
vidual interest in the history Of Wash
ington real estate. The Southern build
ing, at valuation of s2,VtS.ooo. nol1s
the city's record of sales of high-ciaSs
business property. The site of the
Arlington Hotel. at 81, 100000, is in Sec
ond place. The new trust c"mpanys s
purchase ranks third
Last Tuesday the brokers succeeded
in closing fifty-two transactions, ex.
ceeding by four sales the record CT
Apru 5. which had been the most ac-
tive day of the year When TIE week. s
total of sales had been computed IT
was seen that a total of iS6 1eals 1ad
reached the record stage. This num-
Der of trades shows an advance OF SIX
sales over the results attained in the
initial week of April. the former pan
ner week of 1913.
: Record of 1912 Broken.
1t is interesting to note that the cor
responding week of 1872 Was also q
record-breaker. A high mark for
days activity up 10 that period of 1912
was set at forty-three sales, nine points
below this weeks newly established
record The third week of May, 1911,
took rank as the second best week of
the year up to that time.
Tuesdays activity easily distanced
the other days of the week. but on at
Mefe ras6e q busn ne There @ We're thirsy
four sales closed on "Wednesday and
thirty-three on Monday. Yesterday
saw twenty-seven deals closed, while
twenty-tfree were effected on Thurs
day, and seventeen on Saturdays half
holiday.
No section of the District predom-
mated in the weeks trading, although
over the near-urban district ana the
northwest section. There were sew
enty-eight parcels sold in the subur-
ban section, seventy five in the near
urban district and seventy-one in the
northwest The other three city sec
tions were also grouped. there oeing
twenty-seven sales in the nortneasI
twenty-one in the southeast. and SIX
teen in the southwest. The vloume OF
trading for the week comprises 2ss
lots and parcels of real estate
Second Largest Sale.
Next to the Munsey building, the
largest sale of the past six days. was
the Belmont property at Fourteenth
and Clifton streets, for s135,0OO TINS
property recently purchased at auc-
fion was conveyed during the week
by John B Larner, trustee. TO harI!
wardman and Thomas Bones nc
property is to be improved Win
humber of apartment houses
other operations of Mr. Wardman
This week include the selling OF three
apartments on street E;ftasntb
sfreets. to James Williams and w. b
stewart About S25O.oov was IN
volyed in the three sales Mr; WaIIos
man bought the business block AT 4oe
Tb;rteenth street northwest. 3usi
sa,,th of Pennsylvania avenue, ano
gave in part payment seyerai piop
critics in the near-uroan oisli
The former Tyler home on j sueel
,,,et off Connecticut avenue. whicn is 10
he occupied by the Commercial Siup,
was transferred early in the Weeh "
the American Security and trust & &SoIn-
nany to hold in trust for the contrlpu-
Tors 10 the purchase money. The names
~ tbs contributors are not disclosed on
the record L,,,;no
Other business property changlns
owners during the past six Gays were
hi Thirteen-and-one- street nortn-
wesf eH Ninth street northwest ana
Fourth and II streets northwest Inc
f,rst named WIS bought by Willis X
Ruesies. the second by Patrick O'Don-
ovfsne and the third by the National
Csnital Brewing Company. Nominal
considerations only are stated IN tne
dccis.
Loan Market Dull.
The loan market did not keep pace
with the activity of the sales depart
ment of the real estate business. The
total of loans for the week was s9le,-
sso 50 This sum was borrowed on the
security OF III lots at an average inter- |
est rate of 81 per cent.
S.aipht loans were in the van OF the |
market aggregating sS4s. 7os.5o. The sum
"a Ali the notes given for deferred pur- |
cbase money was s91.90t.12 The out
nut of the building associations was
81 $50
County property was first choice as
Ioan security with total of se31.3e5. |
ard an the northwest was pl sdsel - |
the extent of scr9.ole.5n. The record Of
loans in the other city sections was:
Northeast. s35, 1882: southwest, s26,lo0,
and southeast. s4.015.s0.