Evening star., 1946-12-19
Outside Buying.
Marks Record
Realty Deals
Purchasers UndiscIosed
In Mopy Of 17,l37
1916 Transactions
By Robert J. Lewis
Reel Estoie Editor Of The Sfor.


This years real estate sales in
the District will shatter all pre-
vious records, both in dollar VOL
ume and number, and will climax
period of profound change in
local real estate ownership.
Sales activity has been marked by
a significant increase of interest on
the part of out-of-town capital, by
the appearance of whole new batch
of local investors, and by the air OF
mystery which has surrounded many
big deals.
The number of transactions in
volving Washington's $500 apart
ment buildings, rs hotels, and $50
Office buildings has been exception
ally high, survey by The Star dis
closed.
Under the pressure exerted by new
investors and speculative conditions,
real estate owned for generations by
old Washington families, or by pure
ly Washington interests, has passed
to control Of out-of-town capital or
to comparative newcomers at high
prices, as judged on the basis OF
previously normal conditions.
Sharp Rise Over 1928.
Sales of all kinds of property
within the District for the first ii
months of this years far exceeded
the volume in any similar period in
Washington's history, according to
Washington Real Estate Board rec
ords.
For the first II months of the
year, mortgages amounting to $751;
723 ,119 were recorded in comparison
to $156, oil ,999 throughout 1S28-last
previous record year.
Transactions, as indicated by the
number of mortgage recordings, to-
tailed 17.137 for the first II months
of this year, as compared to 1859
for the full year 1928. Dollar volume
for the II months was more than
double the volume in each OF the
Years 1912, 1943 and 1914.
! Hotels sold in the last few years
of frenzied real estate activity in
clude the willard, owned locally
for generations; Mayfiower. Shera-
ton, Hamilton, Dodge, Roger Smith.
Washington, Raleigh and Hotel
240O.
Westchester Among Sales.
/ Apartment buildings sold in the
same period include the Park Lane,
Valley Vista, Chalfonte, West
chester, Harvard Hall, North and
Central Cathedral Mansions, Daven-
port Terrace, Diplomat, Chastle-
4 ton. Dupont Circle. e
! Commercial and Office buildings
sold included considerable num-
ber on downtown Pennsylvania, New
i York and Connecticut avenues NV.
and on D, e, F, G. H. I and K
streets NV, as well as In other
sections of the city. Among office
buildings sold were the Bond Build
ing, Insurance Building and those
at 1910 H street NV, 1437 K street
NV, 1404 New York avenue N. W..
724 Ninth street NV, 1913 H street
NV, 1139 Connecticut NV, 1920
G street NV, 1923 L street NV.
910 Seventeenth street NV, 918
F. street NV.
In many cases, mystery" buyers
have acquired properties whose
ownership was well known for
many years. Now, say brokers, it's
anybody's guess who the real owners
are.
In some cases, buyers have been
syndicates whose members remain
anonymous and whose source Of
funds is a well-hidden secret.
Other Transactions Marked.
In others, individuals whose
identity is cloaked by personal cor
poration have entered the picture.
In still others, as has been the
custom, so-called straw parties
buyers acting for the real owners
mask the actual owner or owners.
While the changes are described
as largely typical of what has hap
pened in many other cities during
this period of intense activity in
real estate, they have, nevertheless,
led to many rumors in real estate
circles.
| Most brokers concede out-of town
interest in local real estate has in
o. nm A ? 17xT C1T mo- - A 0T