Evening Star Newspaper, June 5, 1926, Page 25

REAL" FINANCING COSTS Constructors ot Blg Build- ings Seldom Pay Excessive Charges, Engineer Declares The stupendous costs involved in the erection of the monster office and apartment structures, typical of New York, have been attributed in some quarters to be largely due to un- due financing expenditures. In the opinion of F. T. H. Bacon, New York engineer, the charge is un founded. “In the honestly conceived and plan- ned commere : said Mr. Bacon, “the fi are seldom out of line. usually has him when he ‘ee now so ancing costs | he borrower ee avenues open to | 2 loan | Three Agencies Open. | “In the first place he may | what are usually known as the ‘old line' financing agencies. In New | York as a general rule these are the larger i re companies. 1 of obtaining a loan from such sources averages 2 per cent. which goes to cover such expenditures as the mort gage recording tax, the attorneys’ fees, the engineer's check on the ad visability of the loan and perhaj supervisin fee, if Is granted that no broker in: Af it doe: be added. These ‘old-line’ companis will not loan more than about 60 per g0 to| cent of the whole value of the com- |t hlflfld land and building. ‘In the sec 1 place, Borrower may o to what be termed the intermediate type of hond house. Here he may amount of cash terms. And, of ¢ in a larger disbursement cent “In the third pla the bond house, properly so calle whose bu s is wholly ,ide: with the of louns and market- Here the loan will prob. I larger and the cost still to 9 per cent. Which when s added the vear's interest | ways deducted in advance, brings the | cost of the first year's financing close | to 15 per cent. | Some Financing Exc \i\s. “The financing charge is not too much, not in those instances outlined. The fact is that the third tyvpe of lender has really made possih great real estate development. He made it possible to distribute very | . widely the ownership of r securities and thus to cc ftal which made all « sible. His cha are naturally ices are greater: he lends 1 and his distribution expense is considerable, because of hix bond- selling organization. “There are instances of huilding: where the finaneing cos sive, but they do not come realm of what 1 said at the be the realm of honestly conc planned commercial ventures. | one in the real estate field knows of | buildings where the loans have been equal to the-total cost. Of course, | the would-be and 3 to 4 per| London's plan of havng traffic whirl re and Pica dilly Circus is reported to be success- | ful and will be tried at other centers. prominent | ESTATE: Automobile Routes { home projects are as follows No. 1. stucco home being erected by L. E. Breuninger & Sons at Hemlock street, Thirteenth street and Alaska avenue, designed by Vic | tor Mindeleff, may ‘be reached by go- ling directly ‘out Sixteenth street to Alaska avenue just above \Valter Red Hospital, north on Alaska ave nue to the intersection of the three streets, where the property is located. No. 2. To reach the W. C. & £ N. Miller | property at the southwes Hawthorne street and | place g0 we Pennsylvania nue to Twenty Twenty-second street setts enue, northwest on |setts avenue to Cathedral avenue, {west on Cathedral avenue to Forty- | fourth piace, thence south an IForty- * | fourth place one block to Hawthorne street. The Miller house, desig Delos Smith. of Georglan be built of by The colonia Forty fourth on av to | No. 3. The Hedges & Middleton home. de. signed by Robert Beresford, is of co. lonial type and will be built of stone, This house is located at Thirty-fifth street and Massuchusetts avent iy ned by zoing | Penns: ond” street to M west on house to he Ruby he detached frame ‘ted in Lee Heights, Va., b ar was designed by typical . To veach this pi on Pennsylvania aven L, west on M street to t ey mmgn cross the bridge into Vi he right to the Lee vay, proceed 21 miles uuu.m« to Lee No. 5. 12 erected in Wynne by xlu-; £ directly north on Sixteenth | sircet to Alaska avenue, out Alaska avenue to the District line, continue | north on Geor ivenue extended, known as Brookville pike, thence east on the Colesville pike to the site in Wynnawood 13714 Reno Road Chevy Chase Just Completed English Type Brick 8 large rooms, exclusive of finished attic; beautiful trim and fixtures, 2 baths (one shower). A lovely home in an exclusive com- munity. Price Right— Terms Reasonable Thomas J. Fisher & Co., Inc. 738 15th St. N.W. Main 6830 7777 = T Buy With Confidence—Buy a Dunigan All-Brick Home A NEW DUNIGAN Detached “Brick” Home WITH CENTER ENTRANCE Overlooking 5th & Webst Grant Circ__le er Sts. N.W. 4414 5th Street Northwest - Only $13,500 Convenient Terms Arranged LARGE SUNNY OUT- < SIDE ROOMS. BUILT- IN GARAGE. LARGE FRONT PORCH. SPAN- ISH TILE MANSARD ROOF. SPACIOUS LAWN,ARTISTICALLY LANDSCAPED. THIS HOME IS BEAUTIFUL- LY APPOINTED THROUGHOUT. 3 THE FINEST LOCA- TION IN PETWORTH. DETACHED BRICK HOMES ARE NOT EASILY FOUND TO- DAY, SO HURRY IF YOU WANT TO OWN THIS ONE. REMEM- BER THE LOCATION, OVERLOOKING GRANT CIRCLE. Open and Lighted Daily and Sunday Until 9 P.M. Convenient to Cars and Busses D. J. Dunigan - 1319 N. Y. Av Main 1267 Homes Outllned in (,onvement Form I et LT ARE USUALLY FAIR The routes to the various model | . | Decatur to the site. cond street, north on | | THE EVENING STAR, WASHINGTON, 20 CITIES ENTERED to Star Model it i No. 6. The Cafritz Construction Co. ect consists of a row | varied "designs, giving each one an individuality all its own. These houses were designed by Louis Juste- ment. They are being erected on De- catur between Fourth and Fifth street To reach this site proceed northeast on Vermont avenue to Fior- ida avenue, continue north on Florida avenue to Sherman avenue, out Sher- man avenue to New Hamps nue, turn northeast on New |shire avenue to Grant Circle, from rant Circle go north on Illinois ave. nue to Sherman Circle, on Tllin proj- of houses in continue north avenue to Decatur, east on No. 7. This group of colonial houses being Small on West Vir: te at Queen street novth- Wilbur Smith, e reached by going east on K to Bizhth street northeast on_ Bighth street to thence one block south street north | avenue st lon Fiovida avenue to West Virginia | lavenue, proceed on West Virginia ave- nue six blocks to the site on Queen street. | No. 8. The community group, consisting of | 14 houses, heing erected by Walter izan in Marietta Park at ifth sfellow streets, designed by be reached by to 1venue to Georgl. south to Lor Longtellow where prope s will be of the semi« ched and community group style, W feature a “three-in-a-row” type of ‘lmuvx' embodying Italian architec | | The W. \ | signed by teenih and Upshur be reache zoing out F m(n streét to I e Island avenue, | land avenue to F street reet to Soldiers’ Horn ichizan avenue, Thirteenth square north on Thirteenth street to | touse Angeles. IN REALTY CONTEST Representatives of Boards to Make 5-Minute Speeches in Cup Competition. . ‘The 20 cities which will compete, through their realtor champions, in the home town speech contest held annually in connection with the con- vention of the National Association \(;! Real Estate Boards, opening Mon- |g .| day determined. in Tulsa, have just been The speakers will each have five minutes to pit the charms of Pa tucket, 5 Muskegon and Wichita as and convincingly as he ma The trophy CONCRETE BLOCKS Well Seasoned Ready for Delivery Anywhere Any Time United Supply Co. 1246 First St. S.E. Lincoln 5400 Jameson-Built Homes 2801 to 2829 IR e e 906 New York Main 5. wide competition! lavished on it. lving room, cotta hearth. are cedar lined. located for convenience fast nook. ment. The very finest fixtures. inspection today! Drive out 16th St. to Alaska Ave.; north four blocks on 14th St. to property as shown on map at right— @he Plan Won The Home Will Win You! The actual plan of this perfect 8-Room Detached Home won the prize in “The Delineator’s” nation- Masterfully built of finest ma- terials; every craftsmanlike point of excellence The location is superb—on a valued homesite in Edson W. Briggs’ SIXTEENTH STREET PARK Between 14th and 16th Sts., overlooking scenic Rock Creek Park from a 300- foot elevation The large living room and dining room each has light and ventilation from three sides. beautifully recessed fireplace is set off from the with built-in bookcases, stered seats at the side and a full size terra One bedroom has two closets, one has three, another four. Two bathrooms, each ideally first-floor_toilet and lavatory. kitchen, with pantry, broom closet and break- Separate laundry room in base- Two-car bullt-in garage. A peerless Home Investment—steadily increasing in value—offered at a moderate cost that urges your = Ebson 'W. Brices Company EXCLUSIVE AGENTS Main 5974 D-ONE. FIFTEENTH STREET AT K 5th N.E. Priced Under $7,000 Inspect at Once Easy Terms Here is a home within the reach of any pursc. Moder- priced, yet complete in every detail. Located in Wash- subdivision— ately ngton’s newest o ‘I('n'opolu View” estry brick, 6 large and bath, hot-wate: lectric lights and beau- tiful' fixtures: built-in refrig crator; extra large front and double’ reat porches; laundry tubs; large rear vard to wide alley. An excellent home that is complete. To,reach groverty, gu out Rhode Fourth St.. and Nt to Frimkiin east one square (o or ale by Thos. A. ameson Co. Owner and Builder Ave.N.W. 26—Ask the Man Who Owns One a Prize; A uphol- All main closets and privacy. One A wonderful of plumbing and - | the Bell, Calif., | é % : | = / ’ D. C., SATURDAY, donated by the Chicago Real Estate Board. The Flint, Mich., Real Estate Board is the present holder of the cup. The 20 gladiators of the pertinent fact and the pat phrase who will compete were chosen by lot from 30 entrants. The drawings were made under revised rules so framed as to leave only one representative from a State. The 20 real estate boards trants were drawn are the r boards of the following citie more, Erle, Pa.; Los Angel Rockford, IlL ; Akron, Charleston, W. Atlantic City, Phoenix, Ar Alternates, who will have a chance 1o represent their resy it the hoard first designated are rd the, the z Joard; Tealty Board- and the El Paso, Tex., Real Estate Board. leeping porch, two baths on LA RRRERPRREE ¢ Can Be Bought A- ONE is left. satisfied home-owners. 1T'S THE THING TO DO! SEE THIS HOME. construction brick columns. kitchen and bathroom walls. tub and tiled shower. - |says his credit was affected and his ® | business injured by the action of the " | defendant in procuring an indictment Muskegon, Mich.; Sarasota, Fla., and |; R iR R R e i) Rl N R/ RN 5244 Colorado Ave. Just Off 16th St. at Reservoir A Most Refined Residential Street Compare This Carefully With Anything $5,000 Higher The Owner-Occupant Invites Your Thofough Inspection Semi-detached, eight large rooms, breakfast porch and first floor and every other modern convenience. feet wide, lot 135 feet long with two-car brick garage. This is a beautiful home $5,000.00 underpriced. The owner wants to make quick Inspection hétween 11 and 1, You’'ll Buy If You'll Inspect ERRRRRERERGS SIXTEENTH STREET HIGHLANDS 1200 Geranium St. N.W. An Extraordinarily Well Built House Seven rooms, bath, inclosed sleeping porch; splendidly arranged hardwood floors throughout and all other features in keeping. On a Corner Lot With a Frontage of 72 Ft. Take Georgia Ave. car to Fern St., walk one block west and two blocks north, or drive out 16th St. to Geranium and two blocks east. Agent on Premises—or Phone F. 4963 W. D. Spicknall, Builder ZAATTLLLRTTLLALATATHLLRRLL AL TLA RN AN RN NN NN This Home in Petworth May Be the Home of Your Dreams Six Delightful Rooms With Bath $500 CASH—Balance Less Than Rent LOT of thought was given to its planning; a lot of time devoted to its construction. y Sixty-three are occupied by happy, well Get into the home-owning class—with as I|lllc as $500 cash. Has evergthing you've sought. Six spacious rooms. Wide entrance hall. with outside pantry and built-in refrigerator. Beautiful bathroom with built-in These are just a few features! Price Only $8,950 Sample House, 5019 7th Place N.W. < Take 14th St. or Ga. Ave. car to Farragut St. and walk edst to property, or phone our office and_have auto’ take you. including Sunday from 9 AM. to 9 P.M. 919 15th St.N.W. . E————— | ;a\m\\\»“\msmmmsmm JUNE 5, 1926." ASKS $500,000 DAMAGES. | Erastus D. Whited of Spencer, W. Va., was sued for $500,000 damages yesterday in the District Supreme | Court by Willlam . Phillips, Wash- ington real estate dealer, for alleged | malicious prosecution. Mr. l’hilllli!&‘ to be returned against him in May, 1923, by the grand jury of Roane County, W. Va., and in civil proceed- ings Lrought by Whited and others. Attorneys Julius 1. Peyser m C. Suilivan, the court is told lh.xt the indictment, which charged misrepresentation in connec- vion with a real estate sale in Wash- ngton, was dismissed by the Supreme t Appeals of West Virginia, B 50 disn d the civil actions. Phillips declares he expended $10,000 in defending the clvil and criminal TR NV. second floor and lavatory on House 25 sale. 5 and 7 pan. daily. RIERREREERE TR RUIERRERE for as Little as Sixty-four were built. S S R e S R S S e e bttt ittt All-brick Covered front porch with Commodious kitchen Sanitas on Open all day REALTORS Main 8949 S A S REAL ESTATE. 1312 Gallatin St. NW Leautitul brick home priced low for & quick taming porches. metal thre Bedutiiu cbushes, shrubbery and 1 OPEN ALL DAY SUNDAY FOR INSPECTION L€ BreuninGer &Soxs M. 6140 - 706 Colorado Bldg. YOUR CHANCE! to own a perfect home $7,500 very easy terms 311-19 Douglas St. N.E. (3 blocks above 4th & R. I. Ave. N.E. Sample house open all day Sunday. Week-days, aft- ernoon and evening until 8 p.m. Any time by appoint- ment. See the many new features Waggaman & Brawner Inc. Franklin 7485 1700 Eye St. N.W. The Wonder of Petworth Between Farragut and Gallatin Sts. Overlooking 16th Street Because of these features— 6 Big Rooms Covered Front Porch Big Screened Breakfast Porch Big Screened Sleeping Porch, cpening from two Bedrooms Separate Garage 2 $8,950 - With the Cafritz Helpful Financing: Plan 5000 Block 7th St. N.W. They have all the notable “Life-time” features —with many unusual advantages and extra details —which add to living comfort and housekeeping convenience—and an important factor in valua- tion. Wardrobe Closets Tiled Bath Artistic Electric Fixtures Hot-Water Heating Screened Porches Separate Garage Wide Terrace And Sodded Yards Open 9 A.M. to 9 P.M. The exhibit Home, 5007 Seventh Street, completely fur- nished by the Kaufmann Furniture Co., 1415 H St. Take 9th St. Cars to Decatur St.—or let l.lfl send auto for you. s« CAFRITZ Owner and Builder of Communities $750 Cash $75 a Mo. Hardwood Floors One-Piece Sink Instantaneous Heater Equipped Laundry