New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-28

annually reap a net profit that would seem a small
fortune to many Of
1T is worth while here to examine briefly some
Of the for the enormous increase Of hotels
and apartment houses IN New-York during the last
three years
In the Continental capitals like Paris. Berlin.
Vienna and Rome, the apartment system OF living
has been well established for half century In
most Of toe cities OF the United States however,
as in England. the conception Of home to the aver
ese fairly prosperous head OF family has usually
meant house. and IL rents were too high within
urban limits he would content himself with resi-
dence in the suburbs. conveniently accessible 10
his place OF DIEIuess.
owing 10 its peculiar situation. aad especially
since the consolidation into one municipality OF
the borOughs Of Manhattan. Brooklyn, Richmond
and The Bronx, New-York has practically no sub
urbs at all within radius OF ten miles from
Madison Square Because OF the abominably In
sufficient traction service during the morning and
evening hours. travel 10 the extreme city limits
and annoyance, and even when one reaches the
outskirts 1t IS the exception now to find houses
The situation is simply this: Flat or apartment
the building Of them has developed into craze.
tL.SsIl sotnEanlgs with enormous capltalIz2 ton
We with one another in acquiring advantageous
Si III n tHe De5t sections ana thus IS witnessed
Ss-!iy tEe denoiiton or old residences and the up
bIlaalns IN their places Of the more or less pre-
evIlao-e Meanwhiie contractors and builders are
III ,oyEever. so far as the larger and more ex-
penSlye hotels and apartments are concerned their
success IN tne future Is absolutely assured ard for
this reason: While there are a number of nalatiaI
private residences in New-York, both in Fifth-ave.
ana IN the newer Riverside Drive. overlooking the
IiNCSOn Jhey are teu1ntCd by their owners scarcely
more tEa1 two months Of the year.
The cultivated American Of wealth prefers now
70 pulld MS real nome on enidcent scale in
the country and as It becomes more ard more the
custom 70 spend half the year abroad or in the
SCUM a city ESTABLISHMENT grows correspond gIy
SLPefHuOuS, especially when q perfectly appoint "a
may De engaged at any time. for a short or loug
Ft,i-uu. r furthermore the who has made his
pILg III Chlcaso ST Louis. Denver or san Francisco
dIlj consequently he's plenty Of money to spend
wiz surely visit with his family the financial and
artSuc centre Of the country at least once a wear
Even II ne cannot arrange 70 live there. In brief
iftWI OK mas grown so colossal in every way that
rs OiQtlTne hnlckerbOCker conservatism and fudf-
. NlduaHty have been completely lost In the vast
. 'pSi''Il OF nearly two million souls which we
nov style the Borough Of Manhattan.
existing mania FOR the erection OF hotels and
FFoltl apartments in the city u New-YOrk dates
Iofc the year 1901; real estate Operators believe
tLidt IL mas now reached its zenith. and that the
IueNltaele decline, at least so far as the Iessel
. close OF the present var.
According TO municipal building statistics tn.
1tl ho1eI construction prior 20 1900 had been siy
SstuytITts az an aggregate cost Of 81 500 600 Tn,
60 - ~ zen We're putt at an aggregate cost o.
S='t'S.uto- In l|}l fOrty-siX We're cOustr-1rtaF
a cost or S2l4-LO00 During the last quarter n
IT. IT,, mere were sixty-six hotels and apartment
eSe - Glt'er construction, at aggregate cost o.
/ $50 100000. '' investment wa
1T is curious 70 note here. however that +be-
ere Fewer hotels IN Ne WORK now IN rroTortfo- =
the population than there we're IN 1sCo 20 .i 81 y
the ground" NO--' 4'@sU u