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Old 05-18-2014, 08:17 PM
 
22 posts, read 70,713 times
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My wife and I are thinking about buying a COOP and our real estate agent sent us a listing on Garth Road in Eastchester, near the Scarsdale train station. Does anyone have an information on these coops?

Regards,

T.
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Old 05-19-2014, 10:18 PM
 
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I assume they are all financially stable, but do your own due diligence. Most of them were built between the late 1920's and late 1960's, converted from rentals to coops during the wave of conversions in the 1980's, and likely have very few rent stabilized tenants remaining. There is, I believe, one holdout rental building.

Parking provided by each building ranges from none, to waiting lists, to available. The south end of the street (near Harney Road), always seems to have some spaces available, day or night. Parking along the rest of the street is very tight. However, you can get a monthly permit from the Town of Eastchester and park in the lot that is parallel to the railroad tracks.

The buildings are attractive (a couple of the 1920's buildings are truly outstanding) and well maintained, and you can walk to shops and Metro North.

Like just about all Westchester coops, prices are well off their 2007 peaks, but I believe have stabilized in the last year or so. With low interest rates and the mortgage deduction, the after-tax cost of owning should be less than renting.
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