JV to Bring Luxury Condos to Manhattan’s Gramercy Park
- Mar 13, 2017
New York—Silverback Development is partnering with an investor to develop an $100 million, 60-unit luxury condominium project, located at the intersection of Second Avenue and 21st Street in Manhattan’s Gramercy Park neighborhood. The partnership plans to call upon a notable architect and designer to build the 13-story, 80,000-square-foot building on a 8,052-square-foot, three-lot parcel that will be overlooking Peter’s Field Park.
“We are thrilled to announce our first New York City development,” Josh Schuster, founder & managing principal of Silverback Development, told Multi-Housing News. “As we embark on our plan to create a building that is distinct, yet still gracefully blends into the existing fabric of Gramercy, we will tap a notable architect and an interior designer who are in tune with both Silverback’s vision and the unique nature of the neighborhood.”
This is the first development for the company since its launch in July 2016. Schuster has sourced and led the development of several other Manhattan luxury residential developments with a combined value of $500 million, including 50 Clinton Street, 535 W. 43rd St., 12 E. 13th St. and 75 Kenmare St.
Image courtesy of Silverback Development