Ginsburg Development Cos. on Tuesday unveiled the latest in its brand of luxury rental apartment buildings with the River Tides at Greystone complex in Yonkers.
Martin Ginsburg, the Valhalla-based developer was joined by county and city officials at a ceremonial ribbon cutting for the $100 million, 330-unit luxury rental building at 1133 Warburton Ave. Some construction work, however, remains to be done on the complex’s two 10-story towers. The building is expected to open for occupancy in June.
“In this case, we really had a lot of practice, because we’ve owned this property since the 1970s,” Ginsburg said, “and we went through at least three or four or five design plans, and if practice makes perfect, we should be perfect.”
Ginsburg Development broke ground on the project, near the city border with Hastings-on-Hudson and overlooking the Greystone Metro-North train station and Hudson River, nearly three years ago.
“The south building still has to be completed,” he said, adding that a number of amenities, including a swimming pool, spa, demonstration kitchen, cafe, game room and outdoor pavilion, are still under construction.
The project includes a mix of studio, one-, two- and three-bedroom units, many sporting views of the Hudson River and The Palisades. Monthly rents begin at $1,925 for a studio, $2,425 for a one-bedroom, $2,995 for a two bedroom and up to $6,000 for a corner penthouse.
Apartments feature stainless steel appliances, stone countertops, bay windows and terraces. The transit-oriented development features a direct walkway to the Greystone Metro-North station platform.
“I always feel my next project is my best, so we think this is our current best,” Ginsburg said.
The developer said his company looks forward to completing other projects in Yonkers, a city he referred to as his “home base.” Just north of River Tides at Greystone, Ginsburg Development plans to open a $21 million, 55-unit apartment building, 1177@Greystone, later this fall.
“We feel very positively that Yonkers is moving in a very strong and positive direction, and I think it’s going to become a special place on the Hudson River,” he said. “It is special now, but it’s going to be even more special in the future, and we’re thrilled to play our little part in that.”
“River Tides is a shining example of the great things that we’re seeing blossom in our city of Yonkers,” said Yonkers Mayor Mike Spano.
The project marks Ginsburg’s third luxury rental development to open in Westchester in the past year. In September, the company opened The Lofts on Saw Mill River, a 66-unit apartment complex on Route 9A in Hastings-on-Hudson. Hudson Square, a $65 million, 188-unit complex on the Ossining riverfront, opened in June.
Earlier this year, the development company paid $35.25 million for a 124-unit luxury apartment tower at 34 S. Lexington Ave. in White Plains, which it later rebranded as The Metro.
Ginsburg Development will soon break ground on Fort Hill, a mixed-use development in Peekskill that will include rental apartments and a restaurant on the former St. Mary’s Convent property.