New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-21
Most of the Best Apartment
and Hotel Suites VIII
Be Leased Before
October /.

The persons who intend 10 become
apartment house occupants this year
and who have not yet selected a suite Of
rooms should lose no time to inspect the
apartment houses or hotels in the district
most convenient 10 them. 4 week from
next Wednesday is October /. the prin-
cipal moving day in the home centres
and by that time most OF the best suites
in the choicest apartment houses of the
housekeeping or Notwithstanding class,
in the apartment hotels and In the hotels
which are known for their long list of all
year tenants will have been leased.
The popularity Of apartment houses
and hotels was never so widespread. The
best proof Of this increased popularity
is strikingly reflected in the large num-
Der of structures in these classes which
have been erected in various attractive
home sections OF New York in recent
years. In fact, the expansion OF the
APARTMENT house and the apartment hotel
centres and the enlargement OF the tran
sient hotel regions have been the pre-
dominating feature of the real estate
market for long time.
Apartment house or hotel building in
wolves stupendous sums, and before
project Is launched the designers use
every possible means TO determine the
needs Of the community as regards such
buildings and the possible future desires
in the way of new conveniences of pro-
speotlve apartment house jewellers. or
course, occasionally in boom times such
as occurred prior 20 and after the open
ing Of the subway in 1901 many persons
are so dazzled by ;he glittering opportuni-
ties for realty profits that they forget 10
try TO ascertain whether or not building
operations Of the boom period will be
good investments when the decline from
unusual activity takes place. For few
years following the opening Of the sub
way the CITY was topheavy as regards
apartment houses in the northerly sec
tons Of the city. and 1t was all due TO
III planned speculative ventures.
Some years ago the demand caught up
with the supply. except in one or two
parts OF the town somewhat remote from
City Hall and where the rentals were as
high as in certain divisions Of the great
West Side
Reports received from ali sections OF the
city are 10 the effect that this mas peeh
one Of the busiest apartment house rem
ing seasons in the history OF realty III tne
greater city. And some of the leases
written have been for longer terms IMAM
similar contracts OF this kind.
Not many years ago the average tease
was from one 10 three years. the MAJOR
ity OF leases being for the shorter term
Many leases have been made this year
which are for terms Of from three TO Ten
years and which involve many thousand
dollars
II would not be surprising 10 hear rev
seasons hence that some OF the holders
OF the long-term leases In the choicest
apartment houses. who had no further
need Of New York home, had sublet
their suites of rooms at a handsome prof
IL The areas in the central sections in
which large apartment houses can be
built are growing less each year as the
apartment house districts expand While
this decrease in available ground for i'm
proven ent IS taking place the population
Of the city is increasing at rapid rate,
and il is also estimated that the number
OF persons who can afford TO live in the
best apartment houses or hotels is being
quickly augmented. too.
Building a few years hence will be cost
lier than Il is now. and this will also be
a contributing factor in raising rentals In
the finest apartment house sections Of the
city
Apartment house management has been
placed on such a scientific basis that nu-
merous persons think II is possible to
have suite Of rooms made ready for