Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-12-21
BROAD STREET REAL
ESTATE IS PASSING
INTO FEWER HANDS
Completion Of Ritz-Carlton
Marks Further Step To-
ward Centralized Owner
ship Values Promise to
Grow.

with the completion and opening oi
the Ritz-Cariton Hotel. Broad and wal
nut streets, another group OF buildings
in the central section has gone into cen.
trai ownership.
The ground upon which the Ritz-Carl-
ton stands has frontage Of 100 feet on
walnut street by depth of 1sO feet. In
addition II has a lot to the south. also
covered by the building. formerly No.
2ii South Broad street. with a frontage
Of 20 feet by lW in depth.
In comparison with other buildings In
the vicinity the ground area Is as follows:
Bellsvue-siratford Hotel. 2is by 100 feet,
broad Street Realty Company. l75 by 2sO
withsrspoon Building. rs by $50 square feet.
ki'gcssiton Hotel, 100 by 100 and 20 by
iol feet, II, 80 square feet. 90, ,.-. 90 ooo
stock Exchange Building 100 by 100 feet
Union League Club. 100 by sos feet. se.eOo
square feet.
As can be easily seen the floating sup
ply OF ground space in the vicinity Of
Broad and Walnut streets has been
greatly reduced during the last few
years. The Improvement has been a
great source of revenue to the city.
The fact that the Stock Exchange Ia
ifi1 10 1919 Walnut street has had good
deal to. do with increase in values and
the advancement of holding prices.
The closing Of the exchange after the
outbreak of the war has called a halt
on any sort OF boom as far as brokers
are concerned. This has had tho effect
of making values more steady, and of
building up a safer plane from which the
next advance begins.
xr,rrr.,r ~, ro4rE
At the time Of the settlement Of the
question OF the Stock Exchange going to
walnut street above Broad street, lots
IS feet front by a depth of 100 feet were
IN the market at from $4,000 to 100000.
The prices were Immediately advanced
TO $4,000. and $4,000 was refused for
No. 1921 Walnut street. on April H. 1913.
No. 14ls Walnut street Was sold for about
ee50000. lot 25 by 100. It was later con-
veyed for $4,000. making a front foot
value OF S12,500 for the south side OF
Walnut street in the 400 block 1t is not
likely that the latham residence, No. 1920
Walnut street, could be acquired without
advancing the price,
The future of the property northeast
corner of Broad and Walnut street. con-
sisting of the Forrest Theatre and the
row Of stores on Walnut and Broad
streets. Is hard to point out. THE as
sessment has been very steadily increased
and It's rental power at present must be
severely taxed to take care OF fixed
charges
The Realty Company purchased this
property April 30. 1905, for S2.625,0O0. and
will, on April 30 next. have held the title
for ten years. IL is not an excessive
estimate that central realty appreciates
In value about 10 per cent. per annum,
so that the property, today should Cbei
worth approximately 100000. It Is as
sessed at two-thirds of that amount.
The lot is 235 feet on Broad street,
by a depth OF IT. feet so that putting
the property AZ 10000 front foot would
show A70o,p1J and must bring that at
least to show a profit II held many more
years. 1t will be noticed II has a slightly
less area than the holding of the Bellevue
stratford.
FUTURE SALES.
When future sales of property are made
in the 1900 block, between Juniper street
and the Philadelphia Club on the north
side. and from 18th street and the Ritz
Carlton on the south side. It is safe to
say higher range of value will be
shown.
The Walnut Street Business Mems Asso-
ciation is very active and has done a
great deal for the street The associa-
tion Is working along lines sure to at
tract buyers to street so we'll adapted
for the highest class OF retail trade.
LESSOR.