The sun., 1910-06-26

stance that they are being torn down on
the residential West Side Is a very recent
and suggestive development.
Not fewer than seventy-three private
houses on the West Side ara known 20
have been purchased since last fall by
builders who are putting up or are about
20 put up costly freproof apartm ent
constructions on their sites.
A similar movement j. IN progress
on the Eas; Side. where In Park avenue
alone from Sivtieth u Seventeen strest
o. enty-four private houses have recently
/ been taken over by apartment houss
builders
10th on the West and East sides the
I removal Of private dv ellings In good
neighhorhoods IL a movement Of recent
origin dating from last year.
There H. no way of discovering just
/ how many houses of this kind are de.
stroyed annually in Manhattan. but the
dempltion permits issued by the build
ing department show that on an average
about OO building of various dasCrtp-
tons are destroyed each year. No doubt
one-half Of these are private houses
MeanW hile. the average number % new
private houses erected each year is only
about fifty
When brokers are asked where the
people are going who formerly NAM
tanned individual town residences the
answer Is invariably the same b. apart-
ments. b the siIburbs and b country
places. Ths tendency among people
WIN can AFFORD tao establishments IL
to make their permanent homes on coun-
try estates and % keep an apartment
IN ths CITY the country house being rs-
served for social functions
This arrangement is not now ~ much
a matter ~ economy asof fashion Never.
theless fashion generally has some good
economic reason behind II The reason
today IA that farms are cheap aud thai
iOO acre country estate representing
With improvements. an investment II
Sij0 00n il certain tO realize eventually
handsome profit. for the influence
oT the motor car. the electric railway.
the rapid transit tunnel the new methods
of agriculture and other innovations
TOO numerous b mention Ia only Just
beginning 20 make itself felt In acreage
land values
In the case Of m expensive town rnsi-
denee. on the other hand. the chan~s
are on the side Of depreciation There -
no longer any plAOe In Mani attau WHORE
a private house owner NAV not ~ aTv
time iind a business building or an ara~f-
ment structure going up neat door AZ
intrusion ~ this sort will practically
destroy the value % a dwelling which
may have cost him SiO0.OD or NOR. me-
inchlding the site
The only wav n exrlude uud'- 10
neighbOrs is b. buy up and -rastrir-
nlacent property. but nowadays '.'
calls !Or an Outlav ~ capital which p;'u
the very rich hesitate q make A casa %
point is the effort ~ the Vanderbilt md
Shane families ~ keep trade lut NJ tf''l
avenue IN their immediate neighDo~h1' ~
an effort which after having c0mp~.'t
them ~ operate in real estate for t..
years was given up last leceuIiler lU-cts
they have almost neAL door m tH-
avenue thrse business buildings arl
one apartment house
Under these circumstances II taa'-
courage 10 plan 4 S111 On resideno-. l'
Judge Gary u the United States Ste
Corporation is doing az Fifth avenue an'
/ sixty nth street SJne fine DWELLING
are also going UP on tho olf ienrX LnrarF
block, but these instances are c1rspl.i-
Ously few In comuaIisgn With the huld-
I ing records u a few ycar1agO
AZ that time the fashionable pnvo
/ honse colony On the Fast Side Waa %
| panding notably usurping sites occupi'l
/ by the Old stvle Eve stlrv apaftm'h,
hOIisa. A. present In this lat stronghold
~ the private residence the fuf1IC 3eeiua
% belong to the tall iireproof elevat'
apartment building. q palatial, high
price house In which frequently eAch
tenant pays Anywhere from $1,000 ~
t23. 900 q year In rent