Ginsburg Cuts Ribbon on $100M Yonkers Multifamily Project

Real Estate In-Depth | May 2017

Martin Ginsburg, principal of Ginsburg Development Corp. (third from left) was joined by a host of county and city officials, including Yonkers Mayor Mike Spano (second from left) and Westchester County Executive Robert Astorino (fourth from right). PHOTO BY JOHN VECCHIOLLA

YONKERS—Westchester County Executive Robert Astorino, Yonkers Mayor Mike Spano and other state and city officials joined Ginsburg Development Corp. in cutting the ribbon on its $100-million River Tides at Greystone luxury rental apartment project.

The 330-unit building is GDC’s third major luxury rental development to open in Westchester since the veteran development firm shifted its focus from for-sale condominium developments to rental apartment projects.

“When we broke ground for River Tides at Greystone nearly three years ago, it marked the launch of our new GDC Rentals brand of luxury rental apartment buildings. Since then we have opened luxury rentals in Ossining, Hastings-on-Hudson, Haverstraw and now Yonkers as well as acquired a rental property in downtown White Plains for a total of 814 rental units,” said Martin Ginsburg, principal of GDC. He adds that this fall the firm will be opening a new 55-unit luxury rental apartment building nearby its Yonkers development.

The River Tides at Greystone property features a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with river views. Monthly rents start from $1,925 for a studio, $2,425 for a one bedroom, $2995 for a two bedroom and go up to $6,000 for a corner penthouse apartment.

Luxury amenities at the building include 24-hour front desk concierge service, a two-story lobby, club lounge; fitness center with available personal trainers and yoga classes, a spa center with licensed massage therapists; and a resort-style swimming pool and deck with cabana seating, an indoor “café” with a demonstration kitchen and an all weather barbeque shelter with seven barbeque stations, a kiddie playground and outdoor fire pit lounge. The property has a direct walkway to the Greystone Metro-North platform, which offers commuters a 30-minute commute to Grand Central.

GDC officials said the firm will break ground soon on its Fort Hill mixed-use development in Peekskill that will feature the Abbey Inn and Restaurant, as well as a spa, luxury rentals apartments and Gateway Townhomes. The project is located on the former St. Mary’s Convent property overlooking the Hudson River.

The company’s other developments include the188-unit Harbor Square on the Ossining waterfront; the 66-unit The Lofts on Saw Mill River in Hastings-on-Hudson, and The Metro, a 124-unit building in Downtown White Plains.