New-York tribune., 1909-03-31
BRONX OUTLOOK GOOD
REALTY PRICES GOING UP.
J. Clarence DarieS Says TdIues WW
Reach Manhattan Record.

Realty development in The Bronx along the
present building lines vas the topic Of a lecture
delivered last night by J. Clarence Dawes az 'ie
real estate school Of the West Side Young Men
Christian Association. No. $50 West 57th street.
Mr. Davies is the prcsidept Of the Real Estate
Board of Brokers OF The Bronx, and Is run'bered
among the atIest judges Of the pesent ana future
realty needs OF that progressive borough tie
nrophesied that values in many Of the principal
business and residential districts IF the tofoush
would reach the records made in some OF the lsad-
ing commercial and home centres on Manhattan
Island.
He said that the congestion Of population IN
many tenement house districts Manhattan ISL
and had greatly added 70 the building strength
Of The Bronx, and that large numbers OF oocK@
in the borough within easy reach q CitN nan
Manhattan. were being rapidly improved with sn'-
stantial tenement houses or with tvo or more
family dwelling. houses so to furnish more COM
modious homes for persons VINO md employment
here and who prefer to live in the greater city
He further said.
into an attractive residential and commercial zone
II is necessary that the district pcssess big
money distributing factor. Such factor results
from building Of factories. the erection or stores
and commercial houses and other types Of business
rrcnartv Few persons know the greatness Of The
Bronx as factory and commercial centre II was
about 1880 that the jordan J. Mott Iron Works
was established in the section which has since
been known as Mott Haven. and in that district
will be found the first chief early development of
The Bronx into Il big and busy home and CONNER
cial centre.
EARLY DEVELOPMENT WORK.
1T was about 1890 that many other manufactur-
ing concerns employing several thousand persons
each. established themselves in The Bronx. and
since that time the area occupied factory and
business zones there has increased rapidly.
About years previous the first big building
operation affecting the residential growth Of the
borough was perfected and successfully carried out
II the erection Of three hundred brick houses
with frontages in Willis and Brook avenues, both
in the souherly tip of the borough. These houses
were splenddly built. and not only were occupants
found for them. but the properties were easily mar
keted. 1t is hardly necessary for me TO say that
since that time many acres of vacant land in the
borough have been developed into a strong resden-
tial centre and into districts with average popu-
Iation OF about three thousand persons % a block
"A bout 1890. when the borough was Joined 70
Manhattan by the elevated system, speculative
building and sales of property were largest along
the elevated lines and the future development of
The Bronx will be greatest in sections where transit
facilities superior to those Of other districts
That is a fact which makes it easy for an expert
at present determine what sections OF the bor-
ough will be the scenes Of greatest activity in the
near future and in the days Of the next genera
ton"
Enormous increases in values have taken place
in The Bronx in the last twenty five years. Al
sale held on June Il. 1884. the Real Estate Ex-
change SaIesroonl. which was then No III Broad
way, tract Of land situated at Westchester ave
nue. ard Southern Boulevard sold for few
hundred dollars a lot each For a gore lot with a
rear line OF SO feet, with frontage of - feet
Westchesrer avenue and a similar frontage on Ke-
" street SA0 was paid Now, what do you think is
the value of that property to-day? It Is conserva-
lively estimated 20 worth between $500 and
S2On0. Some lots which sold that sale from
s115 TO $3.50 find ready buyers to-day at from 5000
TO $1,000
Lots on the Southern Boulevard were disposed
Of at that sale for as high 275, and there are
many takers now for lots with froHtages the
Boulevard at from $SO10 $1,000 So you Will sec
that few hundred dollars invested In a Bronx lot
twenty-five years ago has made many persons rich.
The vast increases in values in many sections Of
The Bronx which have occurred in the last twenty
or thirty years were vivdly called 10 my mind
YESTERDAY by sale of lots which / made for
client The grandfather of the present buyer
sold the lots the seller in this transaction for
5000 each The present purchase price about
S35 coo a lot.
Values do net increase gradually. but spas
medically. / do not think that the buyers OF the
lots at the sale held in 1884 could have sold their
properties at a greater than they paid until
1sqn In 1853 most of the lots worth 500.
Then values remained stationary for several years
and in 1895 the lots in demand AT $3.50 each
In 1900 they were valued at about 5000 each and
in 1904 the prevailing price lot was about 5000
Experience has taught me that il is more profit
able to buy properties with frontages on the prn-
cipal business residential thoroughfares tnan
sites fronting side streets"