HDFC co-op with below-market rates in University Heights
The faded red-brick building at 2410 Davidson Ave. dates back to 1923, a period of residential development in the Bronx’s University Heights neighborhood following the addition of the Jerome Avenue line. The area draws its name from New York University’s former uptown campus, designed by legendary architect Stanford White in the early 1890s. (The campus is now Bronx Community College.) Today, the five-story facade is in keeping with the rest of the block, which is a residential stretch until it meets Fordham Road. What sets the co-op apart is its HDFC (Housing Development Fund Corporation) status, a type of income-restricted ownership. These shouldn’t be confused with Mitchell Lama buildings, which operate under different rules. The city estimates there are at least 1,100 HDFC buildings across NYC. For 2410 Davidson, strict income restrictions mandate household income can’t exceed 120 percent of the area median income. That means $100,320 for one person, $114,600 for two people and $128,880 for three people. A minimum 10 percent down payment is also required. In addition, it can be harder to get a mortgage for an HDFC building, making all-cash buyers more appealing. Investors are discouraged, and flip taxes on HDFC properties typically average 30 percent. Subletting isn’t allowed, and apartments have limited resale value to maintain low prices.
One- and two-bedroom layouts with no frills
The 51 one- and two-bedroom units are modest, but they do possess prewar features such as large windows, hardwood floors, foyers and windowed eat-in kitchens. Most have been minimally renovated over the years, with dated kitchens and baths, but they’re well-maintained. Amenities like dishwashers aren’t common, but owners are allowed to install a washer/dryer hook-up for a one-time $250 fee, and some units do have a washer/dryer. Fire escapes serve as outdoor space.Apartments infrequently come on the market. In 2024, a one-bedroom sold for $159,000 with $478 in maintenance fees. Two-bedrooms have one bathroom, with the last sale closing in 2023 for $169,000 with $540 in maintenance fees. Low monthly fees are a primary benefit of HDFC buildings.
Pet-friendly perk
Pets are allowed and there’s a live-in super, which is the extent of the amenities. This is a walk-up building.
Short walk to food, pocket parks and conveniences
Davidson Avenue is a quiet, tree-lined stretch until it reaches Fordham Road, half a block away, a busy artery lined with discount shops and fast-food options. More businesses in the same vein are found a block over on Jerome Avenue underneath the elevated 4 train tracks, along with essential businesses like CityMD. There are a number of thrift shops nearby, along with a Walgreens and Food Dynasty Supermarket. Green space is limited, but Devoe Park is big enough for a playground, walking paths and basketball courts. St. James Park, a few blocks north, also has tennis courts.
Nearest train is around the corner
The express 4 train is around the corner at the Fordham Road stop on Jerome Avenue, and the Fordham stop, on the B and D lines, is five blocks east on Grand Concourse. Trains reach Midtown in about half an hour. Numerous buses serve the area as well. Street parking is for the brave of heart, but a car isn’t needed with enough public transportation options to reach everything from the Bronx Zoo to area airports.
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Quantarium
Current List Price
Sold Price
Area Factors
Moderate Crime
Crime Score®
6/ 10
Bikeable
Bike Score®
63/ 100
Walker's Paradise
Walk Score®
93/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
St James Park
7 min walk
Basketball
Soccer
Tennis
Devoe Park
7 min walk
Basketball
Dog Park
Playground
Slattery Playground
9 min walk
Basketball
Picnic Area
Playground
Poe Park
10 min walk
Trails
Playground
Webster Memorial Playground
11 min walk
Basketball
Picnic Area
Playground
Rose Hill Park
14 min walk
Trails
Strong Street Park
15 min walk
Washington's Walk
2 min drive
University Woods
3 min drive
Trails
Schools
Source:
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