How does living in an apartment building in New York City affect Peter?

Peter Hatcher lives on the twelfth floor of a New York City apartment building with his mother, father, brother (Fudge), and pet turtle named Dribble. The first chapter seems to show that Peter enjoys living in an apartment building:

It's an old apartment building. But it's got one of the best elevators in New York City.

While Peter enjoys the elevator, living in an apartment with his three-year-old brother seems to negatively affect Peter. Fudge is always getting into trouble, except his parents and other adults seem to think he can do no wrong. He is simply too cute to get mad at. He often is getting into Peter's belongings, especially his prized pet turtle, Dribble. Also, when too much noise is made in the apartment, the neighbors below the Hatchers get very frustrated—as was the case during Fudge's third birthday party. His mother was able to ease the situation, however, by offering the downstairs neighbor some food and an invitation to join them until the party was over.