Silverback Development announced that it has partnered with the Caerus Group to co-develop a $47-million multifamily residential development in Hudson Heights.
The partnership will construct a nine-story, 125,000 s/f project at 212 Wadsworth Avenue.
“Our team is thrilled to be working on one of the first residential new construction projects in the emerging Hudson Heights neighborhood,” said Josh Schuster, managing principal of Silverback Development.
“We are excited to see commercial growth in the area as well, with projects like the upcoming opening of uptown’s largest food and beer hall – North End – only one block away from our site.
The proposed development will offer up approximately 100 residences with a breakdown of 70 percent market rate and 30 percent moderate income units, with a unit mix ranging from studios to two-bedrooms.
The rental building will be one of the first projects in the neighborhood with a full suite of amenities. Additionally, the project will feature 21 parking spaces for both the church and the residents.
“Nowhere else in this city one can find a rare combination of the old New York, the bucolic beauty and good value while still remaining a Manhattanite. It’s an honor to participate in the growth and contribute the modern housing development to this fantastic neighborhood,” said Leo Tsimmer, managing partner at Caerus Group.
Hudson Heights, a residential subsection of the Washington Heights neighborhood, stretches from Fort Tryon Park on the north to J. Hood Wright Park. The enclave is characterized by pre-war buildings and has seen little to no new construction in recent years.
210 Wadsworth Ave close to the main retail corridor on Broadway and is a three-minute walk to the A and 1 trains that run to midtown. Silverback Development
expects to break ground on 210 Wadsworth by Summer 2018.