Do studio's in North Central Riverdale NY have good resale? Are the wanted properties?

Asked by Riverdalequestions, North Riverdale, Bronx, NY Tue Aug 4, 2009

i have the opportunity to buy my rental L shaped studio which is large, corner apt with windows all around, alcove area for bed, full seperate kitchen and bath. In very well maintained co-apt in central north riverdale for 110,000. I want to know if thats a good price and if in 2-4 years i can sell it easily (perhaps for more). I dont want to get stuck with a propery that wont sell.....some say never buy studios because people dont buy them...

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Sylvan Tieger, Other Pro, New York, NY
Tue Jan 7, 2014
As a plumbing contractor located in Riverdale (10471) some of the studio apartments I serviced were just used as love nests or people who lived out of the area but hated the idea of living in Manhattan or buying a home in this area as many are very high priced ,

Consider it as a town house without the house and living in a big closet.

The prices some of these folks ask are in my opinion outrageous to live in an apartment building than the CO -OP owner is responsible for the piping even those in the wall CRAZY but true in some cases.

When thinking of buying a co op as the board interviews you you had better do research in their finance ask how old the building is as many are well over 40 years and the life dependency of the plumbing system is just about up

Also if the buildings need pointing or a new roof think about the assessment you may face

Does the building contain asbestos? Radon? How many stock holders are in arrears as unemployment is very high

Renting an apartment a private house is a consideration as many of the 2 or 3 family homes in Riverdale (10471) and Kings bridge (10463) have tenants for over 20 years

I rented out of of my apartments that has 9 rooms 9' -3" ceilings 2 full bathrooms, their own laundry room new kitchen appliances including dishwasher for under $1,600 a month and they can expect no increase in their rent as long as they want to live here

Many people rather have a great tenant and take a lot less money then the so called going rate .. Just shop around
0 votes
Gladys Viru…, Agent, Scarsdale, NY
Wed May 18, 2011
I would advise you based on my past experience as a Realtor and a buyer, I have always seen the increase in value when you hold it long term. Studios generally don't increase as high as 1 and 2 Br's do,however in Riverdale they are highly desired. Many commuters buy them as second residences. Others buy them for the convenience to public transportation.It's a great place to live and a 20 minute drive from Manhattan.
Please feel free to call me if I can be of assistance to you. 914 589 2455
0 votes
One of my fist cousins took almost 1 MILLION off his house in Scarsdale to sell it and it still take a few years. The "spread the wealth" policy and "affordable housing" mentality ruined many areas values
Flag Sun Mar 16, 2014
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