New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-28

tions were given tenants, that many,
particularly professional people, would
Ike 10 live in the district so as TO be
within walking distance Of their offices
and not have 70 ride in the subway or
elevated trains for about an hour every
morning and evening
The First Venture
Tho first artistic rcmodclling that
Mr. Pepe did WAS at 43 West 9th ST.
His company next purchased so West
18th st., which was fully rented before.
The work of altering was completed,
The rental being $500 more than was
originally estimated. The third house
purchased was 124 Waverley Place.
The rental value Of the house was
raised from $1,000 to $4,000 q year.
IN the yard a one story studio was
erected al q cost of about $1,000, which
WIS leased for two years at SI2 a
month.
"When the alteration work on 124
Wayerley Place was started" says Mr..
Pope, property owners in that block
claimed that the alteration would prove
failure for the reason that the house
was too near the Sixth Avenue Ele-
waited Railroad, and on that account the
section was noisy. The experiment has
proved just the contrary"
The next experiment was made at
l08 Washington Place, which is west
Of 9th ay. -Four months later the Pope
company was getting as much for one
Of the floors as from the previous
entire rental.
As to this experiment Mr.. Pope says:
"Parlor floor and basement, that was
formerly rented for S23 a month, is
now rented for S65. The second floor,
formerly rented Tor $2l, now rented
for $50 a month, and the third floor
is now rented for S75, making a total
or $500" This improvement has also
created demand for houses in the
block, and owners will get better
price for their property.
Other improvements
Regarding other improvements under
way or proposed, Mr.. Pope says: "No.
ll2 Waverley Place is being altered
9y the Douglas Robinson. Charles S.
Brown Company on exactly the same
Plan as 124 Wayerley Place. The for
mer rental Of the property was $1,000
year. When the alterations will have
been completed the yearly rental will
amount to $4,000, an increase Of about
$500.
NO. II Washington Place, a four
story and basement house, formerly oc-
cupled as a rooming house, is now being
altered into private studio building,
70 be occupied and owned by Rudolph
Evans. Part is rented, and the amount
OF rental for the seven rooms Will be
>siOO year, nearly as much as the
entire carrying charge for the building,
Including interest on the investment.
NO. n Washington Place has re
Gently been sold through our Office, and
VIII be altered this winter or spring,
and viii show an increase in rentals
rom 81 400 TO about $4,000 a year by
spending about $4,000 in alterations.
NO 1919 West 18th 81. is now being
iemodelled by Thomas Bevans into
sluaiO apartments, partly for his own
occupancy and partly to be rented to
other artists.
no. 49, West 9TH 81. has also been
eased for long term Cf wears TO Mrs.
Bella Croft, one Of the editors Of The
Delineator Magazine This house is
going TO be altered into studios, for
her own occupancy and partly TO rent,
and the rental will DC increased from
about Sl,400 a year 90 about $4,000 by
the tenant spending about $4,000 on
alterations.
NO. 127 Macdougsl st. is being
altered by John 4. Marshall, and has
been leased by him on a tive-year lease.
The house is one of the early type Of
Two story and attic house. which is
nelrly one hundred years old II has
Inc Colonial columns in the front and
Old ratings with pineapple posts that
we're made b. hand. This house IS
about go feet south Of Washington
square, and the location is not so at