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Historic 1924 prewar co-op near Yankee Stadium featuring classic details like high ceilings and hardwood floors. Exceptionally affordable maintenance under $500, 90% financing available, with express subway access to midtown Manhattan. Currently, 2 apartments are for sale.
828 Gerard Avenue, also known as Varma Co-op, is a prewar building constructed in 1924 and described as one of the first original cooperative buildings in New York City. The six story, 53 unit walkup is located in the historic Concourse section of the Bronx, just blocks from Yankee Stadium. The self-managed building features a live-in superintendent, on-site management, and a laundry room in the basement.
The building's one bedroom apartments retain classic prewar details including high ceilings, original hardwood floors, picture moldings, and original wood doors. Units typically feature separate windowed eat in kitchens, generous closet space (with some apartments offering walk in bedroom closets), and large windows providing abundant natural light from various exposures. Several apartments have been renovated with updated kitchens and bathrooms, while others are offered as renovation opportunities.
Financial terms are notably accessible, with monthly maintenance fees in the $486 to $494 range and 90% financing allowed (10% down payment). The building is pet friendly with a dog park adjacent to the property, though it maintains an end user friendly policy that does not welcome investors. Board approval is required, and units must serve as primary residences.
The location offers convenient access to express subway lines including the 4, B, D, 2, and 5 trains at nearby 161st Street Yankee Stadium and 149th Street Grand Concourse stations, with commutes to midtown Manhattan described as approximately five stops. The Metro North Hudson line is also accessible for trips upstate. The neighborhood provides proximity to Joyce Kilmer Park, Franz Sigel Park, the Bronx Museum of the Arts, and the Bronx Children's Museum.
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