Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-28
RECORD PRICE SAID
TOHAVE BEEN PAID
FOR CENTRAL SITE
Sale of Property at Broad
and Chestnut Streets Will
Result in Sharp Revision Of
Values.

The transfer to John Wanamaker ~ ~.
northeast corner of Broad and c,bo...,.,
streets by the Franklin Netiono, p-.,
ana the conveyance by him Of the nron
erty formerly known as the Haze,t,a.
Building, 1868 Chestnut street oo.no
oVershadow any recent transaction a.,
the real estate world. :"
The amount involved runs into ,bo .r
lions, and the square foot values c,s,r,o.
oy real estate men recently will hsv.
to be revised and advanced.
On November 8, 1908. the Gjrard r-,,..
Company sold the property at nortba...
corner of Broad and Chestnut stree+s :.
the FRANKLIN National Bank, with I.
frontage on Broad street of 1oo foo. |,
lnches by depth of 95 feet inches IN
Chestnut street, containing e54O uou.r.
feet, for N,95o.0OO, or s252 a SQUARE foo,
including the building.
1t was the site of the Seventh Pr.,h,.
terlan Church in 1884, and was purchases
that year by John F. Betz for s15s, 900 and
the present building erected.
1t is understood that Mr.. wanamapar
paid about s2,75O,OOO for the Franklin Ma.
tonal Bank property, 100 feet inches
on Broad street by s5 feet 2 inches on
Chestnut street, 954O square feet. or seso
square foot, and, as the building will
probably come down, this NAV be con.
sidered ground value.
The activity of Mr.. wanamaker has
had much to do with the advance IN
value shown In the vicinity of Broad and
Chestnut streets.
RAPID RISE OF VALUES.
1t will be interesting to note at what
price the next large piece Of real estate
will sell near this hub Of business.
Previous sales in that vicinity were:
1S97-Northwest corner Broad and Chest
nut streets, lot IS by n. sold for s164 a
square foot.
1S99-Northeast corner Broad and San
som streets, Chambers-Wylie Memorial
Church, now occupied by the North
American Building, sold at $50 a square
foot.
19O4-191O Chestnut street, lot 1876 by 1O9
sold at $50 a square foot.
1907-The Real Estate Trust Company
paid D. C. Folwell for 1888 Chestnut
street, lot % by 159, adjoining their build
ing, S1i3 square foot. record price TO
that date in the 1900 block.
During the years 1901 and 1902 the Girard
Trust Company acquired the ground now
occupied by their new building, at an
average price for the 1860 square feet of
S1i5 a square foot, the site costing $780,
co.,
1t will be remembered that for the
widening of Chestnut street in 1906 the
city paid the Girard Trust Company for
n strip feet wide on Broad street by
depth along Chestnut street of 40 feet,
$4,000 or at the rate of SIS square foot.
In 1903 s65 was paid square foot for the
strip In front of the old Mint property,
now the site of the Widener Building.
1t Is interesting, in the light Of these
central sales and transfers, to take a
backward glance over the field and note
the remarkable advance in value.
1t would be a very daring real estate
student who would forecast the future Of
Chestnut street and Broad street in this
locality. The prices made today are high,
and yet in few months present figures
may look low.
NOTES OF THE REALTY MART.
Record of Mortgages for Monday and
Tuesday of this week show:
Building societies loaned, s167, 200.
Trust Companies. s20IOOo.
Individuals, sll5SOO.
The following mortgages were placed:
$4,000 sub to ground rent $4,000 north
side Market street 1894 feet east Of 9th
street.
$4,000 premises northeast corner 7th and
Ranstead streets.
100000 premises southwest corner nth
and Walnut streets
$1,000 premises Nos. 3533-35 Locust street.
$4,000 premises No 2lS South 9th street.
Permits and plans for buildings are be-
ing filed rapidly. LESSOR