New-York tribune., 1903-07-19
THE WEEK IN REALTY.
Bronr Properties Bought for Unrest
ment-Boom Possibilities.

Buy1ng of Bronx properties for investment
again feature Of the market last week In view
of this. that interesting subject, the immediate
future growth of The Bronx. widely discussed.
and many brilliant word pictures were drawn set
ting forth what the probable building. speculative
ana investment opportunities in The Bronx
likely 10 be before many months have elapsed. II
Is probable that II many more such pictures
made the realty market will witness the near
future blind rush 10 that section to invest to
build There is apparently doubt in the minds
OF the majority OF leaders in real estate fields that
the prospect for a building and realty boom in The
Bronx in the near future is excellent. But it will
take experienced builders. we'll trained investors
and shrewd spectators. il seems. 10 grasp these
opportunities successfully
Some persons have come to the conclusion on
account Of all that they have recently heard and
read about The Bronx. that beginner in the real
estate business could make money easily there just
by buying and selling vacant parcels or by denti-
Tying himself with investment properties. Maybe
this opinion. if put test. might prove sound.
Safe guides for future realty operations must
should be gathered from the realty lessons of the
past, according to of the oldest IN years of
experience and most successful the real
estate market. In the experiences of realty men
in The Bronx in the last twenty years are
there to be found guide posts to future real
estate transaction there? There appear TO be
many.
FORMER BOOM IN THE BRONX.
Four or five years ago The Bronx had great
in the West Farms the Norris Park section
but was confined those districts where there had
been for some years fair population. and which
We're well tapped by the elevated and surface lines
real estate dealer said yesterday to a Tribune
reporter. in speaking about that realty boom:
Why it was then an easy task for US to sell
vacant property and improved properties. So great
was the demand that just as soon as we could get
such for sale they would be sCld to some builder
or TO an investor. The cause of this boom was
that The Bronx underbuit. Builders thought
that they a rich field for making money. They
could get sites with liberal building loans and for
some time they could sell the houses that they
built as soon as they were ready for occupancy.
operation. and in many cases long before that time,
he would be head and heels in another similar
tranSa ction.
1t did not take long before there was an over
production, and many of the builders forced
to the wall. From that time until recently build
ers and investors who remember the boom have
not looked with kindly eye The Bronx. and
do not blame them. On account of the building
inactivity Of the last four years and the increased
population in The Bronx the realty situation in
The Bronx is simply this: There are not enough
houses In The Bronx to afford comfortable quarters
ing greater each day. and will truly be eXasperat-
ing unless the promised building boom comes soon
houses in The Bronx are to-day showing a return
of II per cent profit on the money invested.
IMPROVED TRANSIT CONNECTIONS.
Many real estate men Of The Bronx hope that
the suggestion that the subway trains from
Broo1-ave and One-hundred-and-forty- -ninth-st- to
the junction Of Westchester and Third aves.. and
then travel to City Hall by way Of the Thrd-ave.
elevated line and the Second-ave. line will be
ried out It is said that the connection between
the elevated road and the subway could easily be
made at the junction OF Westchester-aVe. and
Third-ave. and that this would somewhat relieve
traffic congestion the Third-ave. line in the
rush hours until a subway route should be built
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