Largest Hotel in the United States Now Going Up Here
Work has been begun on the new hotel to be erected on the south side of Market street between New Montgomey and Third. It will be six stories high; it will hold 1,200 guests, and will cost about $600,000. It will have a frontage of 275 feet on Market, 340 on New Montgomery, 304 on Annie and 250 on Jessie. William Sharon will be the owner. It is to be called by the spread-eagle name of the "Palace Hotel."
A workingman owned a lot of land on the northeast corner of Jessie and Annie streets, 42 by 54 in size. This property was a break in the symmetry of the land on which Sharon's large hotel is to be built. To secure it was therefore an important point. The owner perceived his advantage; but, as it was Mr. Sharon who wanted the property, he thought he would be easy with him, and therefore let him have it for $30,000 over three times what it was worth.
San Franciso Real Estate Circular
For the Month of December, 1873
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