Source:Building-prospects/content
Ira M. Burchfield sold about 15 acres, including the Peoples' Insurance Company property, on Squirrel Hill, near the head of Hazelwood avenue, for $33,600. The transaction is supposed to be in the interest of the Homestead Railroad.
There was considerable quiet talk in certain quarters yesterday to the effect that one of the railroads is negotiating for a big slice of ground to enable it to increase its facilities for handling its growing traffic. The amount of money involved is not much less than that recently invested by the Baltimore and Ohio at Glenwood. The gentleman from whom the information was obtained said the transaction was not far enough along for particulars to be given out.
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Homes for the People.
Extensive inquiry among real estate dealers, sellers and buyers, shows that the demand for building lots and moderate sized houses is active and rather on the increase. This is due to the approach of the renting season. A great many who will change quarters next April will move into houses of their own. The list of house owners next year will be materially increased.
High-priced houses are rather slow, showing that this class of improvements has kept abreast of the demand, if not a little in advance of it, but the avidity with which small dwellings are picked up demonstrates to a mathematical certainty that there is a shortage in the supply. It is to these that capitalists and builders should turn their attention. They should remember that there are people who cannot afford to live on the fashionable avenues. A brownstone front is a luxury; a comfortable little home a necessity.
Half a dozen gentlemen who operate extensively in real estate met by chance in a Fourth avenue office yesterday, and discussed the building outlook for next year. The conclusion reached was that it would be on a larger scale than ever before. One of them said: "I am cognizant of plans for about 400 houses, to be commenced next spring. Besides, two companies, lately formed, propose putting up about 150 each. Here are 700 houses that may be counted upon with considerable confidence. Other companies and syndicates are talked of, and some of them will no doubt enter the field. Individual builders will certainly do their part. It is safe to say there are 1,000 new houses in sight."
It has been an open secret for some time that Mr. Andrew Carnegie proposes to give Pittsburg a lift by building a large number of houses. The gentleman above quoted, said he had been informed that Mr. Carnegie would begin operations next year in the Nineteenth ward. William Flinn and C. L. Magee were also mentioned as prospective builders of more or less magnitude.
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Business News and Gossip.
The People's Natural Gas Company has advanced the price of the fuel 33⅓ per cent to their rural customers.
A prominent drygoods merchant is dickering for 10 acres on Neville Island.
Captain Bengough, the new Pension Agent, began paying the veterans their last quarterly dues for this year at the Tradesmen's Bank yesterday. The day was devoted to personal applicants, and about $30,000 was disbursed. Applicants by mail will be attended to next. It will take nearly a month to complete the payments.
The remaining piece of property belonging to the Kuhn estate, on Diamond street, will be offered at public sale to-morrow.
The "little German carpenter," on Atwood street, whose trials and tribulations were recounted in this column a short time ago, has put up the price of his property to $6,000. His aristocratic neighbors, begin to realize that they have something very like an elephant on their hands.
A deal in down-town property involving $100,000, is hung up on a difference of $10,000. The broker in charge expects to effect a compromise and put the sale through to-day or to-morrow.
The weather was all right yesterday—bright and bracing—and the streets were full of business.
Merchants of all classes are looking forward to a large holiday trade, and are completing preparations for it. Plenty of work and fair wages during the year have enabled almost everybody to save up something for the happiest season of all the year.
The amendment to the by-laws of the Exchange, by which the Secretary shall act as Clearing House manager, was unanimously adopted yesterday. The change will go into effect January 1.
Baxter, Thompson &l Co.—Real estate is all right. We are closing up nine sales, ranging from $750 to $7,000. The scarcity of small dwellings is the only drawback.
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The Building Record.
Building continues fairly active in spite of the weather and lateness of the season. Nine permits were taken out yesterday for 12 houses. The list follows:
Howard Welsh, brick two-story and attic dwelling, 20x36 feet, on Erin street, Eleventh ward. Cost, $3,000.
Mrs. J. C. Lightner, three frame two-story dwellings, 20x32 feet each, on Emerson street, Twentieth ward. Cost, $3,000 each.
D. Haggerty, two brick three-story stores and dwellings, 20x50 feet each, on Butler street, Eighteenth ward. Cost, $6,700.
Joseph Holland, frame two-story dwelling, 16x18 feet, on Patterson street, Twenty-seventh ward. Cost, $500.
David Zugsmith, brick one-story storage house, 12x14 feet, on corner Townsend street and Wylie avenue, Eighth ward. Cost, $140.
John Diesenroth, frame one-story shed, 20x30 feet, on corner Eighth and Bingham streets, Twenty-ninth ward. Cost, $60.
John Williams, frame two-story and attic dwelling, 20x30 feet, on Lincoln avenue, Twenty-first ward. Cost, $2,000.
Phillip Gatewood, frame one-story dwelling, 24x12 feet, on Butler street extension, Eighteenth ward. Cost, $250.
John Westwater, frame one-story and mansard dwelling, 20x32 feet, on Addison street, Thirteenth ward. Cost, $900.
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Movements in Real Estate.
W. A. Herron & Sons sold No. 211 Coltart Square, Oakland, for Mr. H. C. McJilton, one of the former purchasers of these houses, and who has removed to Baltimore, for $6,600.
Baxter, Thompson & Co. sold through Thomas Liggett lots Nos. 55 and 56, Park View plan, Fourteenth ward, fronting 46 feet on Terrace street by 100, to J. G. Russ, for $1,500.
S. A. Dickie & Co. sold for M. L. Painter, to J. M. Douthett, a lot in Brushton borough, 50x130 feet, on Brushton avenue, for $1,200.
C. Beringer & Son sold for J. A. Eckert, lot 97 in John A. Eckert's plan, 20x85 feet, on California avenue, for $600; also sold a lot on Boston street, same plan, 22½x100 feet, to Thomas S. Devenny, for $450.
Black & Baird sold to C. W. McMinn, four lots in the D. H. Barr plan, between Homewood and Brushton, fronting about 120 feet on Finance street and extending through to the Pennsylvania Railroad, for $1,800 spot cash.
