New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-14
THE FUTURE OF AP1RTMENT. no USES.

fusion over the United States of this benefoent
brand of ivory white satin
THE FUTURE OF HOUSES.
During tho last four or five years assertions have
been continually made that the building of apart
ment-houses IN New York was overdone, and that
the excess of supply over the demand must materl-
ally reduce the rents generally considered exorbi-
tant, especially by tenants. Such assertions have
not proved true thus far, much it has been hoped
that they might. The building of apartment-houses
has mean " hile steadily and rapidly gone on, and
tho price of their rents has advanced In most cases
from year to year. More apartment-houses have
been cree ed in the last twelve months than in any
similar period since their introduction into the
city, The number is now so great that there seems
TO be good reason for believing that they have
finally exceeded the requirement., at least
at the figures usually asked. We refer to the more
expensive class Of apartments-those varying from
81 200 to $1,000 and upward a year-the COM
parativey cheap apartments still being. and likely
to be for an indefinite period, wholly inadequate to
the demand
1t has long been expected that comfortable apart
ments, in II decent nelghbOrhoOd, for the average
New-York family Of four persons. exclusive of ser
wants, could and would be had for from $500 to
500. One year after another has passed, but the
price, nor are they now, nor will they be, in all
probability. Land in any decent nelghborhOod,
which is very much the Same here as fashionable
ne gh borhood-for it can hardly be said that there
is any middle ground IN this city-always COM
mands such rates that real-estato owners
are precluded from building thereon any other than
high priced houses. Houses of this kind have been
erected erecting, in nearly every quarter up
town, notably in the twentieth and Twenty second
Wards. Many of them are now about ready for &C.
cupation, and more will be ready before
the coming spring. The rents demanded
are not less but generally rather higher, than tney
were last May; but it doubtful if the demand
will be met owing to the extraordinary number Of
these buildings.
It is a significant fact that divers apartments in
very desirable houses, both old and newt is the
custom to lease many of them from autumn TO au-
tumn-have stood vacant since October. and that
very few apartments in some new and excellent
buildings have been let, although already offered
for months. In many instances. too, great abate-
ments from 20 to 80 per cent. have been made,
and are still making, by landlords. Until re-
Gently this has never been the case Apartments
doomed eligible have hitherto been engaged often
before tho houses have been completed, and the
constantly increasing supply has not kept pace
with the demand whence may infer that the
supply now exceeds the demand. Whether this IS
really or apparently remains to BIO seen. It may
be that number of the new apartment t-bOuses have
been finished too late in the season to find tenants
readily after the mass of our citizens had made their
domlciliary arrangements for the winter, and that
next May will show apartments to be In as active
request as ever. This Is not likely. however. suoh
data as are obtainablo for o deduction indicating
otherwise.
Many persons of the tenant class think that here
after there will be decline In the putting up of
apartment-houses, that there will be q whole
some reaction to single-family houses, the
rents of which will be reduced so as to
put these more nearly on footing with apartments.
The greater probability Is that the rents of apart
ments of the more expensive will be loweri tor
It seems as though all the New Workers who not
rich, or at least exceptionally we'll Of will be COM
PEELED, if they wish to remain In easily accessible
parts of tho city, TO 1--we in what inapty called
by tho Scotch flats. High as apartments are, it is
far more economical to hire them than to hire entire
houses, because those need less furniture and less
service and involve less friction. They enable their
occupants to make more show on o smaller amount
of money than snge-famIly dwellings do and this
IL must be admitted is very grateful to the average
Manhattanese, Although apartment-houses cost
their owners far than other residences, they
yield q larger revenue, which accounts for their
rapid growth. They estimated to pay from to
10 per cent per annum, and if tho estimate be cor
rect they can be afforded at to per cent, which
is more than can be got from other forms OF legil
mate substantial investments.
II apartments that have brought 81 800, $1,000
and 81 100 could be had at $1,000, $1,000 and
81 500 instead it would be great gain to renters,
and would be hailed with JOY by the bulk of New
Workers, who have, unhappily been accustomed to
a regular advance In rents They will welcome any
and every over-bulding of apartments since itcan-
not bring them aught but good, whatever its effect
upon landlords with whom precious few feel called
upon to sympathze All present indications are OF
decline In apartments the coming year, and albeit
such indications may be fallacious, as they have
often been before, there sufficient ground for the
belief to justify it, and to encourage the majority
of New-Yorkers who 90 not dare TO hope that they
shall ever own a home of their own