IN 1939 these same houses are symbols not of power but of decay. Seven of them, of which the Frick mansion is the biggest, have already become semipublic institutions or museums. Only seventy-two large private houses are standing along the Avenue—four below Fifty-ninth Street, sixty-eight above it. Thirty-three of these houses are closed, their windows boarded up, their shades pulled down behind dirty glass, their stoops cluttered with rubbish, their facades smeared by the pigeons. In the thirty-nine houses that remain open, there live approximately eighty people—including some of the most eccentric, loneliest in all of New York.
Among them there is only one baby, the three-month-old daughter of the Albert Bostwick's, and less than twenty children of college age and under. There are, of course, active and influential families who live on Fifth Avenue. Almost all of these, however, live in the apartment houses that have replaced the great mansions along the Park; only a handful still maintain houses of their own. In this latter group are Bernard Baruch, Gordon Rentschler, President of the National City Bank, Edward S. Harkness, the philanthropist, Joseph Feder, the oilman, James W. Gerard, former Ambassador to Germany, and Mrs. Harry Payne Whitney, sculptor and donor of the Whitney Museum. But these persons are exceptions. Few Avenue householders play active roles in business or national affairs.
The most tangible factor in the collapse of Fifth Avenue as America’s greatest residential street is taxes. Whereas land for a house at 882 Fifth Avenue (near Seventieth Street) is assessed at $42 per square foot, land for a residence around the corner on Seventieth Street is assessed at $27 per square foot. The Vanderbilt house on the comer of Fifty-first Street is assessed at $2,450,000, and for the privilege of sleeping in it Mrs. Cornelius Vanderbilt therefore has a tax bill of $197 per night. The total assessed value of all the houses now standing on Fifth Avenue is over $33,000,000 and total taxes levied last year amounted to nearly $ 1,000,000.
Such taxes would be almost insupportable under any circumstances; but they must met out of incomes already slashed by the high-bracket federal and New York state income taxes. At the same time the expense of operating a great residence on the Avenue is fantastic. One of its smaller houses, assessed at $250,000, supports a staff of ten servants (butler, chef, valet, lady's maid, footman, parlormaid, chambermaid, two kitchenmaids, and a laundress), the yearly payroll being $14,000. Food for this staff costs about $80 a week or about $4,000 a year. The cost of outfitting the butler and footman alone is $600 a year. Repairs on such a house will total at least $3,000 a year, electric light at least $1,000, heating at least $2,000. These charges, plus incidentals, will bring the cost of operation to an absolute minimum of $30,000 a year, before the family can even begin to use the house the way it is supposed to be used.
Few modern families will put up with such expenses when piled on top of Fifth Avenue taxes. Instead, the rich have abdicated their thrones, have abandoned the symbols of their power. They have dodged around the corners of Fifth Avenue into the side streets, where they live luxuriously but inconspicuously in houses whose architectural taste is certainly an improvement upon that which the Avenue displayed in its heyday. They have left the Avenue in possession of apartment dwellers and a rear guard of householders, many of whom linger here simply because they have enough money to indulge themselves in their eccentricities and memories unique, for they cover the immense expanse and sweep the ground.