Real Estate Weekly
Image default

NEW DEVELOPMENT: Ossining waterfront, The Pearl in Edgewater, NJ

● Ginsburg Development Companies, LLC
Ossining waterfront getting four new mixed-use projects

The Village of Ossining’s waterfront and Main Street shopping crescent are poised for a transformation as four new residential mixed-use developments take shape, revitalizing the historic Village.

Three projects, Avalon Ossining, 147-155 Main Street, and 105-107 Croton Avenue, are currently in the construction phase and a fourth, Harbor Square, is expected to soon follow with final approvals from the Village now in place.

Once completed, the developments will offer more than four hundred new rentals units in the Village, from affordable housing to luxury apartments.

The Village of Ossining hopes to attract young professionals and empty nesters alike looking for a combination of affordable living, waterfront views, and convenience with easy access to mass transit and New York City a mere 45 minutes away.

Ossining waterfront rendering

Avalon Ossining and Harbor Square are both planned as luxury developments, the later with a full service concierge. Two developments, Avalon Ossining and 147-155 Main Street, have scheduled completion dates in the first half of 2014.

“These brand new apartments are perfect for anyone interested in living in an urban, yet historic community,” said Ingrid Richards, the Village’s Manager of Downtown and Economic Development. “We are very excited to see these developments progress. Our growing retail and restaurant businesses will also benefit greatly from the new additions.”

Earlier this year, the Stagg Group, a Westchester-based developer, purchased the Village-owned property at 147-155 Main Street. The parcel, known as the “We Can Do It” lot, has been vacant for over fifteen years following a devastating fire. Construction is now underway for a five story mixed-use building containing 31 apartments, 1,202 square feet of retail space, and 3,185 of restaurant space. The new brick and masonry building will blend with the Village’s existing historic architecture and is expected to be move-in ready by April or May 2014.

“The redevelopment of this parcel represents another milestone of success for the Village of Ossining,” said Mayor William R. Hanauer. “It will complete the historic Main Street shopping crescent and represents yet another forward step in the renaissance of the Village and the rejuvenation of its downtown.”

Also in the construction phase, 105-107 Croton Avenue will feature 14 rental units as well as 2,700 square feet of retail space.

“Those living in the Stagg building will have market rate and affordable quarters with the convenience of contemporary living in our historic downtown, across the street from the farmers market and within walking distance to the Ossining Station. New Croton Avenue tenants will have more reasonably priced units, convenient to excellent shopping, as well as three of our excellent schools,” Hanauer noted.

Owned and operated by AvalonBay Communities Inc, Avalon Ossining will offer 168 brand-new luxury apartments for lease starting in February 2014. Located at 217 N. Highland Avenue on the site of an old office building now demolished, the new smoke-free community will feature one, two and three bedroom apartment homes with amenities ranging from large contemporary kitchens and energy efficient appliances to private balconies with stunning views of the Hudson River.

Avalon residents will have access to a state-of-the-art fitness center, outdoor swimming pool, clubhouse, children’s playground and WiFi Café. The community is one mile from the Ossining Metro-North Railroad Station and within walking distance to nature trails and hiking along the Crawbuckie Nature Preserve.

Ginsburg Development Companies, LLC received final approval from the Village of Ossining’s Board of Trustees earlier this month for Harbor Square, a 188-unit luxury rental community on the Hudson River waterfront. Located on Westerly Road, across the street from the train station and adjacent to the historic Main Street business district, Harbor Square will offer apartments ranging in size from studios to three bedrooms, many with balconies. Additional amenities include a rooftop fitness center, spa and swimming pool. Currently scheduled to open in the spring of 2015, Harbor Square’s 4.5-acre site will also feature a new restaurant and waterfront park.

“All four of these residences will have attendant commercial space, which together will accomplish our goal of spreading the tax base,” said Hanauer.

Sales underway at Edgewater, NJ luxury condo building The Pearl

GFI Mortgage Bankers, one of the nation’s leading real estate lenders, today announced that sales have commenced at The Pearl, a luxury community of 71 condominiums in Edgewater, N.J.

Located on the banks of the Hudson River, equidistant from both the George Washington Bridge and the Lincoln Tunnel, The Pearl offers spectacular Manhattan views in a relaxed waterfront setting. GFI will serve as a direct mortgage lender for the residences, providing in-house processing, underwriting and closing support.

“We are privileged to serve as lender for such an awe-inspiring project,” said Jordan Roth, senior branch manager at GFI Mortgage Bankers. “We will take a hands-on approach with brokers and attorneys to ensure an efficient and seamless mortgage process for what is sure to be a high-demand community.”

Skidmore Owings and Merrill, architects of New York City’s Freedom Tower at One World Trade, originally designed The Pearl as a research facility in 1953. Nearly 60 years later, developer Natural Resources has partnered with Lessard Design Associates and Alan Tanksley Interiors to give the waterfront building a proper facelift, starting with new full-height windows, natural finishes and sustainable energy systems.

The Pearl will serve as an accessible upscale alternative to traditional city living. In addition to its proximity to the George Washington Bridge and Lincoln Tunnel, the community offers seamless access to Manhattan via nearby ferry terminals. Furthermore, residents are only a short drive from three major international airports, along with many of Hudson County’s renowned recreation destinations.

The new condominiums will feature a wide array of five-star amenities. Residents will have access to a 24-hour concierge, state-of-the-art fitness center, outdoor heated pool and stunning rooftop deck. Each unit comes complete with 10-foot ceilings, along with high-grade Bosch appliances and advanced security and keyless entry systems.

“For those looking for city convenience and accessibility in a suburban locale, The Pearl really has it all,” Roth said. “We’ll be able to offer an expansive portfolio and competitive rates on a truly breathtaking property with Manhattan views that you really need to see to believe.”

The Pearl is constructed using Natural Resources’ trademarked intelligent design, using energy efficient appliances and hyper-efficient HVAC systems. The design of the building incorporates environmentally friendly materials, including sustainably forested timber and local reclaimed wood.

Related posts

EAH Housing Kicks Off Multi-Phase Affordable Housing Project, Extends Mission of Serving Senior and Special Needs Communities


BWE Secures $4.5 Million in Financing for Seniors Affordable Housing in Villa Rica, GA


Rahway Mayor Raymond Giacobbe Cuts Ribbon to Officially Open Second Phase of the Mint Luxury Rentals