 The Yankees would eventually move across the Harlem River to the Bronx into Yankee Stadium . On April 18 , 1923 , both the Red Sox and Yankees played for the first time at the Yankees new home . Over 74 @,@ 200 people watched the Yankees defeat the Red Sox , 4 – 1 , in the first game played at the stadium . Babe Ruth hit the new stadium 's first home run , christening the stadium as " the House that Ruth Built . " Ruth would finish the year with a .393 batting average , while being walked a then @-@ record 170 times . The Yankees met the New York Giants for the third straight year in the World Series . The 1923 World Series resulted with the Yankees winning their first World Championship . Of the 24 players on the Yankees ' first championship team , 11 came from the Red Sox . 
