Posted by Raanan G
on Monday, November 16th 2020:
In Reply to: Re: Old Buildings posted by Bob Bechner on Saturday, October 31st 2020:
When you talk about walkups, people don't realize that around 1910, 1915, elevators were hugely expensive, and only the builders of the most "upscale" Riverside Drive or CPW apartment houses could afford them. How did the developers of walkups get tenants on the 4th and 5th floors? Simple--lots of incentive (like free rent for several months), plus a lower rent in general. The people living on the top floor, and maybe the next to the top floor, tended to be poorer than those living on the lower floors.
Reference ID: MN3348
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