The New York herald., 1922-07-23

BUYING movement In vacant land
~ in the Bronx. presumably for
building sites. appears to be under
way. Such purchases of late usually
have been for apartment house projects
and as most OF the activity has been In
the West Bronx, where builders are
pushing work on new flats and two fam
lily and single dwellings. there Is good
reason for confidence that the building
boom in the city's furthest north borough
is not preparing to halt So much new
construction is under way that predic-
tions of softening Of rental prices for
housings in The Bronx are being made
freely by many close observers of realty
conditions. The corner ha been turned,
they say, but the downward slide VIII
be more perceptible In the autumn. On
the other hand, there are students OF the
market who declare emphatically that
any lower rates will apply only. II at all.
to older structures.
The rent standard, therefore. appears
to be spotty and any generalization re-
garding it is dangerous. One broker
pointed out that the great production OF
apartment houses of the better type
,in the West Bronx was responsible for
downward tendency of rents, and add
ed that vacancies in such buildings were
appearing, especially in the central anu
East Bronx Many families on leaving
town for the summer gave up their
apartments in the belief that they would
he able i'm the autumn to obtain 3atis-
factory homes for less money. Inc
agents, however, are united In assert
ing that no fall of rents such as tenants
expcctt will be seen during the coming
renting season.
The natural explanation Of the CROWN
OF building in the West Bronx is the
Jerome avenue elevated extension OF
the Lexington avenue subway and Its
connection with the Sixth avenue Il.
CITY buses also are running in two lines
along the Concoursc from Mosholu
Parkway, one to 10th street and Fifth
avenue. and the other to 150th street
and Melrose avenue.
Not content with the present trans
nortation facilities in The Bronx and
mindful of constant complaints OF poor
service the Bronx Board Of Trade ap-
pointed committee. which suggested
that the B. r. T. Broadway-Seven'h
avenue line -be extendedrfrom its pres
ent terminus at 155th street and Sew
enth avenue. under the Harlem River
and into The Bronx; that the Eighth
avenue Amsterdam avenue line De
extended from it's proposed terminus at
1s1st street. about four blocks further
north, eastward under the iavine at
broadway and the Harlem River ship
canal, under New York University
thence in a northeastern direction
through Westchester Square. and con-
tinue in the direction of East fremont
avenue to the Fort Schuyler reserva-
ton. ultimately to be continued under
the East River into Queens
Would Connect Second Avenue L.
Suggestions for a physical connection
between the Second avenue l. and tne
extension Of the Lexington avenue SID
way or Southern Boulevard, and for the
avenue and the elimination OF - Il
were made. The comE,fttee suggested
subway under First avenue to connect
with tho Southern Boulevard-Westches
Ter avenue line of the Lexington avenue
route and operate to Pelham Bay Park
and Clason Point 1t suggested tne
construction Of subway under Third
avenue to supplement the l. service
Among the Bronx boosters, and one
whose predictions to this newspaper
have come true, Is e. Osborne Smith,
broker of East Burnside avenue To
a reporter for THE New York HERALD
Mr.. Smith said yesterday: I'VE are
going to rent up everything In the line
of houses in the west side OF the Bronx.
There may be drop of rents In houses
built before 1921, apportioned according
10 location. The calls for new apart
ments are coming In satisfactorily, al
though the renting season should not
start normally until August The devel-
onment Of the West Bronx Is due to the
inprovement in transit facilities and
has come sooner than I had expected
Az present land values are low, nat
ural consequence Of high building costs
with lower building costs land values
will change rapidly TO higher level"
Mr.. Smith, who Is a rooter for Burn
side avenue, concerning that thorough
fare had to say: Next to Fordham road
burnside avenue will be the great bus