The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-11-17

-W-hen we started We calculated two people 70
the apartment. But We found that many sne'o
persons wanted two and even three rooms. ono
artist took two apartments. So that. while an
except two two-room apartments are renseo'
there arc only forty -seyen people In the mousse
and ten Of these eat on the European plan INC
demand for apartments has been 10 good 'na' wo
could easily have insisted upon renting thfee-
room apartments only to families OF threo persons,
instead Of letting some of them TO families OF TWO
persons. The apartments are all either Two OF
three room apartments. each apartment with DAM
In the front, on each noor. there are wo apartments
one Q three room and bath and the oshef q Wo-
room and bath. Tho two apartments can DC con.
nected. In the rear there are two room anu
bath apartments. which can be connected
The rent u 1000 for two room apartments aha
1900 for three room apartments. Inns REM m'
oludes heat. light and attendance. kaeh apaN'
mcnt contains q brine circulating refrigerator, an
abundance of closets. q hat rack and an umorena
st.nd In A little yestibuie, q long and short distance
telephone. mall chute and communication WIN
once. which saves han boy service. Inc oihihg
room Is small and cosy. and We do not AufhN ou',
siders. The idea Is 10 exclude the publicly y OF no'e'
lfo.
Tho manager quoted 10 now the proprietor
on a long lease Of the house In question. and
IL also the proprietor Of two other houses
since erected. Indeed. most. II not all. the
apartment hotels recently erected have been
lea sod from the plans usually for fifteen years
or q ter m, the aggregate rental OF which
will be equivalent TO the selling price. inc
annual rental commonly represents a returnoi
from Q TO eh per cent. net on the selling price
the lessee paying taIes and repairs. Inc
only other class Of property with which apart
ment hotels may be compared In the matter
Of freedom from administrative details to
the investor 10 business property. which Is
generally sold on the basis OF 8 per cent. net
No difficulty has been found In securing as
leases for apartment hotels experienced
proprietors Of hotels and high-dass boarding
houses who will give a bond s-~;-ins the
owne In one years lease. Under such
f~avoring conditions apartment hotels are
currently surprising In marketaoility all
other classes OF purely investment realty
The rents prevailing In apartment hotels
have a sufficiently wide range TO come WITHIN
the means OF a comparatively large class Oh
the oity's population. In the more fashion,
able houses do wnto wn the average rent u
probably between $40 and $50 a room a month.
In the less ambitious houses In side streets
suites at somewhere in the neighborhood
OF S25 a room are not Board
ranges from IS so q week to sl7 so. In other
words, apartment hotels take an intcrme-
date position between expensive hotels and
high-grade boarding houses. One reason
for their popularity OF course is that they
relieve tenants from the vexations OF house,
keeping, some houses even supplying per-
sonal service through maids and Wallets:
and are, besides. a source OF actual economy.
as compared with the expense OF tho es-
Establishments which most OF these tenants
would feel called upon to maintain in a fiat
or n private house.
But that freedom from housekeeping cares
and economy are not their sole attractions
~ the class OF tenantry which they command
Is suggested by the fact that they are nearly
all grouped In one general n'ighborhood
There are. so far as known, only n couple
OF apartmcnt hotels on the West Side. with
perhaps two or three under construction.
and this statement practically holds good
also OF the East Side, There are several,
IN including two under construction, In the
Fifth avenue residence section about Wash
In gton Square, and also some other scattered
instances. But the apartment hotel centre
falls within Twenty-seventh and Fifty-ninth
streets and Madison and sixth avenues.
with the tendency Of expansion toward Park
and Seventh avenues. In this centre some
thirty apartment hotels have been prospectrd
during the current year. The social pres
tige OF Murray Hill, the presence of the city's
leading clubs. the subtle attractions OF streets
lined with shops and filled with carriages
and pedestrians. must be numbered along
with the greathotsls and theatres and a varied
multitude OF rlace Of cheer and entertainment
as among the causes that have contributed
to the establishment Of the apartment hotel
neiahborhood In one narrow 10 cality. and
tho centripetal character OF these causes,
a. viewed from the real estate standpoint,
Is the best assurance OF the sta biity OF the
investment qualities Of the new type OF hous-
Ing In that locality.
That apartment hotels are likely 20 suner
compa ~ratively little in a period of general
industrial depression would secm ~ follow
from their position with relation % other
housing. In pinchIng times a host Of people
now living In expensive hotels or
rrtinuns OF servants in private establishments
would no doubt be ready o. take up vacancies
occurring in apartment hotels. Besides. the
demand for suites IN such houses now exceeds
tho supply. and the very multiplication OF
populous apartment hotels In u small locality
has 10 werfullv ~ .nforced the influence Of tho
Rapid Transit road In creating a demand
there for sizes for department ftoros. SPECIAL
stores. theotres. oelccs and other business
building- TIM circumstance, IN turn. IL
driving up the value Of land 10 n point where
II viii soon b.oome too costly for improve
mont with APARTMENT hotels Whether this
type Of housing will he generally introduced
uptaun m the near future under the stimuius
Of th. new Tenement House law. and II 80,
what tho effect viii he on the present solo
APARTMENT hotel o'ntre are questions which
only eIp, Ti.nce eau answer