The Washington herald., 1915-08-15
REALTY TRADING
FAILS TO SLUMP
Tradition Broken, $50 Trans
actions for Week Being
Recorded.
FRIDAY IS BANNER DAY
Interest on Loans Advances from 81
to So Per Cent-Only Two
Important Sales.
FRIDAY IS BANNER DAY

Contrary to local tradition real estate
trading has not declined this month.
Brokers closed $50 transactions during
of twenty three sales over the number
for the initial week of August and on a
level with the high figures that have
been maintained all summer
The banner day of the week was Fri
day, with twenty mine sales. Wednesday
and Thursday each witnessed twenty
four deals Twenty-one sales were eff
fected on Monday and Tuesday. and
eleven We're closed during the ha0 day
of business yesterday.
The majority of the sales Of the week
consisted of single lots. only thirty-six
transactions of more than one parcel
being made. The $50 transactions in
volved 1871 lots Suburban property was
in greatest demand. seventy-six lots
changing hands in those districts. The
near-urban sections also enjoyed good
market, sixty lots figuring in sales.
Northwest Section Leads.
In the city limits the northwest sec
ton led the market with twenty-nine
lots sold Property in the southeast
seemed more in demand than for some
months, and fifteen lots were traded in
that neishborhood. Five sales were made
in the southwest.
The loan market also advanced during
the week, and the rate of interest on
loans increased from 81 to SIS per cent
Harry Wardman and Thomas P. Bones
played a big part in swelling the loan
market by securing s175.Oco from Harry
T. Domer on property owned by them
on the north side of Columbia road be-
tween Quarry and Ontario roads.
The Plaza Commission has given James
r. Brevoort s135,0S2 for premises 30 to 30
New Jersey avenue. The property at 1913
Sixteenth street northwest has been sold
by Charles w. king. jr.. to George ID.
Horning for s13.5Oo Mr.. Horning turned
Over to Mr.. King in part payment the
premises at 1880 Seventeenth street north
west.
Only two sales OF Importance were
closed in the business section during the
week Lewis Holmes purchased I19 Elev-
enth street northwest for $3.50. The
property was owned by George S. Rees
and William H. Lanham. The property
ut GIG Pennsylvania avenue northwest
was sold by Harry Gam. The revenue
stamps indicate the price to have been
s11.OON.
Very few loans were made during the
week for large investments. Most of them
were taken by persons desiring to i'm
prove their land or to pay of prior en-
cumbrances. A total of s456.36s was loan
ed for those purposes Building associa-
tons advanced s35. Sab 70 members.
Costly Apartments Planned.
Bids for the construction of a $500. 900
apartment house at Eighteenth street
and Massachusetts, avenue by Mrs. STAN
ley Mccormick will be opened August
20 There will be six suites of apart
ments. each embodying all the features
known to modern building. Each apart
ment will occupy a floor. The rent for
each apartment will be $1,000 a year.
The interesting old residence at 1923 K
street northwest is slated to be torn down
to make way for the march of progress
through the northwest section. 1t is I'M
derstood Harry Wardman is planning to
erect a large apartment house on the
site. The building, it is said, will include
1i2l. 1t will extend back to the vacant
lot at Vermont avenue and X street.
The n. L. Sansbury Realty Company
closed ten sales during the week. Rapid
progress is reported on the construction
of the addition to the Potomac Electric
Power Company's plant at Fourteenth
and B streets southwest. The building
will be ready for occupancy December 1.