J. Philip's Westchester Real Estate Blog: New York: Edgemont

The Edgemont is a co op apartment complex located at 370 and 372 Central Park Avenue in Scarsdale, NY. It is served by the Edgemont School District and receives municipal services from the Town of Greenburgh. Amenities in the complex include a beautiful inground swimming pool, a children's playground, and a fitness room. Every apartment gets one parking spot, and a second spot is possible if you get on a waiting list. It goes without saying (but I'll say it anyway) that The Edgemont enjoys a very convenient location. Central Avenue (as the locals tend to drop the "Park") has everything - shopping, restaurants, retail, and Yonkers, White Plains and Manhattan are all within shooting distance. 

All co ops have Rules, and the Edgemont is no exception. Here are a few things for you to know if you are considering the Edgemont.

• Board approval is required for all new shareholders (owners). The board meets monthly. 
• Minimum down payment required is 20%
• Flip tax is $1 per share (We found shares vary from 500s to the 900s, depending on the size of the unit). 
• Monthly Maintenance/co-op fee is approximately 50% deductible. 
• Buyers must pay 3 months monthly maintenance at closing upfront to the Edgemont reserve fund at closing.
• Heat is hot water baseboard. Air conditioning is wall units. 
• Electricity is paid separately from the monthly fee. Heat is included!

While the Edgemont is right on Central Avenue, it isn't on top of the traffic. The buildings are set back from the road and have wooded coverage. It backs up to the Greenburgh Nature Center, so there are no neighbors on the other side except birds. Another nice thing about the Edgemont is that there is ample visitor parking, which can be an issue in other complexes. 

There are other nice things to note about the Edgemont. Both buildings are 24 hour security buildings, the management staff are excellent, and many apartments, as the pictures show, have balconies. The buildings were erected in 1970, and they are updated and in solid shape. All units are broadband and cable compatible. If you are looking for a nice co op in the area, the Edgemont is probably compatible with you as well. 

This building is one of the biggest enigmas in Westchester. It is located in a very affluent area (in the Edgment section on busy Central Park Avenue), but has been derelict for years. More information here and  here. One of the real neat pieces of architecture you'll see in southern Westchester, it sits, year after year, with little more than the lawn mowed. This is one prime piece of real estate, and it will be a shame if and when the land is developed to replace this unique, albeit under-appreciated building.