The New York herald., 1876-11-05
Apartment Houses.


on the amount of capital invested than the
better class of apartment houses; none, cer-
tainly, which rents SO readily, even in the
most depressed times 1t took at first some
considerable effort to overcome the preJu-
dice against the apartment system, which
existed among our wealthier classes who
only too frequently confounded it with the
tenement house system. This idea, how
ever, was soon exploded by the building Of
expensive and elaborate apartment houses
destined solely for the wealthy. Since the
altering of the Haight House, the pioneer
apartment house on Fifth avenue, numerous
similar establishments have made their ap-
pearance on the avenue, both above and be-
low Fourteenth street. Of these the most
notable are the Grosvenor, the Berkeley.
the one over the jewelry store
on the corner of Twenty eighth street,
the Osborn. and finally Sherwoods,
higher up the avenue. There is still another
apartment house now in course of construc-
ton on the northwest corner of Forty
second street and Fifth avenue which, if
report be true, promises to eclipse all its
rivals in elegance and comfort 1t will be
finished by May next.
The greater portion of these costly build
ings are rather hotels than apartment
houses, though universally designated by
the latter name. The distinctive feature of
the apartment house, strictly considered,
consists in suites of apartments provided
with separate kitchens, laundries and all
modern conveniences necessary for house.
keeping. The Fifth avenue houses are for
the most part not organized on this plan.
of common dining rooms, while those
who desire it can have their meals.
served in their own apartments. All this is
expensive and can only be afforded by per-
sons in certain conditions of fortune The
system is particularly attractive to young
married couples, and recommends itself
generally to that numerous and rapidly in
creaslng class in this city desirous of avoid
ing the cares of housekeeping Meanwhile
the real apartment house has taken firm
root in our midst and fourishes vigorously
in different parts Of the town. The more
successful and better sort are found chiefly
on great thoroughfares and hundred foot
streets. Broadway, between Fiftieth and
Fitty-seventh streets, might be called IN
apartment house quarter. We find here the
Albany, the Newport, the Saratoga and the
Rockingham, all of recent date and admir-
ably adapted to the purposes for which they
were intended. The Rockingham, on the
corner of Fifty-sixth street, the last express
sion of this class of apartment house, and
consequently of considerable interest to
those who study this question, occupies
about six lots of land, valued at $50, ZOO,
while the building is said to have cost
$500, ,0O0 1t offers suites of apartments con-
sisting of nine rooms each at prices ranging
from 800 to s145 per month, or from s1,O5O
to 81, TAO per annum. While the accommo-
dation offered is certainly admirable it is
only within the reach of those having from
$4,000 to $1,000 income per annum. Ger
tainly no one in the enjoyment Of less than
S4, 900 would be justified in leasing, furnish
ing and occupying these apartments, if a
proper ratio between living expenses and
rent is duly maintained. These apartments
do not appeal to that very large class of
small traders, clerks and employees in the
enjoyment of incomes or salaries of from
| 50, 500 to $4,000. There is great and press
ing want of suitable apartment houses, fin
ished with all the conveniences and COM
forts Of the Albany, the Newport and the
Rockingham, but adapted to the purses ofthe
numerous class we have spoken of. Those
who first cater to this want will open gold
mine which can be worked with profit in
this city for many years to come. The
apartment houses on the east side Of the
town-the Kensington, on the corner of
Fourth avenue and Fifty-seventh street; the
Madison and the Washington, on Seventy
second street and Third avenue-have sue
ceeded beyond the most sanguine
hopes of those who projected them.
The Kensington has this summer
been enlarged by an additional build
ing fronting on Fourth avenue. We be-
lieve an apartment house every way equal
to tho Rockingham could to-day be built at
such lower rate for the land and building as
would enable the builder to realize hand
some profit for suites Of nine rooms at rentals
ranging from 500 to 81, 800 per annum.
Seven full lots which would admit of larger
rooms than those of the Rockingham, could
be had, say on Fourth avenue or Seventy
second street-at all events in that neigh
borhood and not east of Fourth avenue--for
certainly $4,000, if not less, including
corner the building could be erected for
100000 at present prices of material and
labor, making an investment of S27O.OOO.
instead of $3.50, 000 which we understand is
the estimated cost of the Rockingham,
being q difference of $500 in favor of
the new building We recommend these
considerations to all those contemplating
new building enterprises on the east side in