Westchster Real Estate Development Roundup (11/12)
Watch out for these three Westchester properties.
Ginsburg Development broke ground on a $110-million luxury rental complex (rendered above) at 1133 Warburton Avenue in Yonkers in late October. The 330-unit building, River Tides at Greystone, will reside within walking distance of the Greystone Metro-North station. Studios, one-bedroom, and two-bedroom units will be available, and many will offer direct views of the Hudson and the Palisades. River Tides is the first property in Martin Ginsburg’s new portfolio of luxury rentals housed under the GDC Rentals brand.
A proposal has been submitted to Harrison town officials to turn two vacant office buildings on Corporate Park Drive in Harrison into a 421-unit residential apartment building. The proposal is a partnership between Normandy Real Estate Partners, LLC and Toll Brothers. Harrison is working toward a “Work.Live.Play” environment for that area that aims to attract young professionals who work nearby.
The Station Plaza office building in Rye, just across from the Rye Metro-North station, has been purchased jointly by Stamford, Connecticut-based JCS Capital LLC and Greenwich, Connecticut-based Granoff Real Estate LLC. The partners plan to redevelop the site into a 17,500-square-foot mixed-use building with 12 luxury apartments and a 3,500 square-foot restaurant. The property was originally built as a parking garage for wealthy New Yorkers to stash their cars during weekend jaunts to the northern suburbs, then was converted during the 1970s into offices. With its close proximity to the train, developers hope to attract commuters.