Apartment for Sale
In Manhattan last week, apartment hunters followed a newspaper ad which offered 2½-room cooperative apartments in a "new development" with "elevator, steam heat, Frigidaires." The trail led to a grimy old six-story tenement with an assessed value of $15,000, in a run-down neighborhood off First Avenue. The modern apartments existed only on a set of architect's plans, the building was not open for inspection, the work of remodeling had not yet started. But the owner easily sold 14 apartments for $3,500 each, and the monthly carrying charges were far above rents prevailing in that neighborhood.
To many another...
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