The New York herald., 1921-03-14

kind of building that can be OF any real
benefit. What we need Is more apart
mont houses containing suites of from
three to five rooms and renting at from
$40 to $15 a room, and we would have
got them IL the Court of Appeals had
declared the rent laws unconstitutional.
We may even get them yet IL the Lcgis-
lature will modify the laws so as to give
to the landlord the right TO eject an un-
desirable tenant after four or five
months notice.
Building materials are cheaper now
and labor is giving an eight hour day
for eight hours pay which is tanta-
mount to saying that he is working for
less money But even with these favor
able factors and the tax exemption
added ii is not possible to build the type
of house / mean and rent ii at prices
that VIII be as low as those charged
by the owners of the older properties.
A walkup apartment cannot be built to-
day to rent for n cent less than SEQ
a room, whereas In certain sections we
have the older ones renting at from $40
to SIS a room. Mortgage money is freer
now. and the savings banks and other
lending institutions are more liberal
with their money and yet few people
want to build"
Mr.. Nehring. like most other men in
his business. believes that the break in
rents cannot start for several years, but
that when IL does It will strike the small
suite first. The miniature apartment OF
one or two rooms which became so pop
ular during the acute stage of the home
shortage, Mr.. Nehring agrees. is nothing
more nor less than freak housing and
will not draw tenants when the latter
are able to pic; and choose.
Too Much Freak Housing Now.
For much the same reason Mr. Nehr-
ing doubts the merit OF the measure pro-
posed at Albany removing three family
houses from the scope OF the tenement
house law. With too much freak hous-
ing on the market already. Mr.. Nehring
says, practical builders will not want to
spend money on a property that will be
both unrentable and unstable after the
shortage is passed.
The same situation applies TO Brook
lyn. according to George Horton OF the
firm of Bullsley & Horton. who manage
much property In Kings. One and two
room apartments will be the first to feel
the reduction, but all the more staple
properties will remain high for the next
few years. Tax exemption may result
In production of two family houses he
said, but builders as a class. he added.
have shown no tendency 10 stampede
the building bureau with plans so far.
The recent rent law decision, he thought.
was to a great extent accountable for
this.
In the face of this pessimism one mild
zephyr of hope blows in from the direc-
ton of Tho Bronx. Il. II. Weisker,
4 4.
city's great northern borough, Gays that
the builders there are preparing 10 do
considerable construction work toward
the latter part OF the year. This. he
pointed out. viii give them the benefit
OF the tax exemption provision. which
only applies 20 structures completed be-
tween April /. 1920. and April /. 1929.
Thousands Of plans. he said, have been
prepared. and they would have been put
through had Il not been for the depress-
ing effect OF the rent law decision from
Albany.
II believe. too" said Mr. Weisker.
that the lowered cost OF construction
and the freedom from taxes Will enable
the owners Of the apartment houses
put up in 1921 TO rent them for less
than the figures demanded for the apart
ment houses of 1920 They viii not,
however. be able TO bring their figures
down any lower or even as low as the
old properties. Consequently the av-
erage OF rental prices is bound TO re-
main high for several years to come"
For a brief period during the latter
part OF the year 1920 there was slight
intimation OF relief from an unexpected
source in Manhattan. IL proved to be
mirage. however. Practically the only
type OF residential construction work
undertaken in Manhattan during the
whole year had been IN the form OF
high class apartment houses. such as
are to be found In the Park avenue Sec
tion and along the reaches OF Mill
ionaires Row. as that segment OF Fifth
avenue between Fifty-ninth and Eighty
sixth streets is popularity called.
Vacuum High Up yanishes.
For a time II looked az though this
form or housing had been overproduced.
To heighten this impression many OF
the former occupants OF such expensive
apartments had gone down n step IN
the apartment house scale az protest
against tho high rents. This caused
congestion IN the moderate priced hous-
ing and left vacuum higher up in
the scale. u was thought that the
owners OF tho expensive apartments
would sooner OF lator come down In
their rents and hll UP their apartments
with the type OF tenants accustomed to
occupying them and in a way contribute
toward tho alienation OF the situation In
the moderate priced housing
But somehow or other the vacuum in
the apartments OF the millionaire variety
has practically nlled up and the demand
for moderate priced housing Is just as
keen as ever with the rents stlll high.
Lawrence ~ Eliiman. president or the
arm, OF Pcase 4 Elliman. which has
most or tho luxurious houses ~ Mill
ionaires Row and many m the exclusive
Park avenue section on IT, renting list.
says that lac has no more than I've
sgItes available at rental or $4,000
cs more
In Greenwich Village the demand for
spartuicnts and living space Of other
t,-pea has not even reached its peak. de-
clares VI. T.. Vaughn. q real estate man
who confines his activities ck!efiy TO
thia section or old homes and tho
habitata OF artists. There has not been
much new building there, nc adds. al
though there has been enough remodel
ilnn work 10 Kecp fairly we'll abreast
of tho demand for small suites, which
still thrive IN the Bohemian atmosphere
ot tho Village.
h docs not require a renting agent.
however. 10 realize the meagrc prospects
of a reduction N the cost of livigg space.
dohn H. Parish, who neither owns nor
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