YONKERS, N.Y. -- Ground was broken Tuesday at Warburton Avenue’s newest luxury rental complex, River Tides at Greystone.
The $100 million complex, which overlooks the Hudson River, boasts the slogan “of come home to vacation.”
“We anticipate a broad market for the apartments at River Tides, from singles and young couples who are not yet ready to purchase a home, to New York City rail commuters, to empty nesters who want a truly exciting residence where they can live in a resort-like environment all year long,” said Martin Ginsburg, the developer’s principal.
Ginsburg Development Company’s 330-unit 10-story development to be built at 1133 Warburton Ave. intends to “set a new standard for luxury living.”
Residents will afford resort-like amenities such as: full concierge service; elegant two-story lobby; elegant club lounge; fitness and wellness center with available personal trainers, yoga classes and spa treatments; and a s resort-style swimming pool and deck with cabana seating; seven barbeque stations, playground and outdoor fire pit lounge. Units start at under $2,000 for a studio.
The opulent rental complex will also have its own walkway leading to the nearby Greystone Metro-North station. River Tides at Greystone offers a mix of studio, as well as one, two and three bedrooms units, most spectacular views of the river.
Ginsburg Development has owned the property for more than 40 years, and has built more than 600 rental and condo units in the same neighborhood.
“This is our prime site in the neighborhood,” said Ginsburg, who previously lived in his company's Esplanade complex down the road. “Until now all of the factors didn’t come together to develop it.”
Among these factors is $3.7 million in tax exemptions granted by the Yonkers Industrial Development Agency.
“This property, which has been taxed as vacant land for decades, will now become an important addition to the city’s tax base,” said Yonkers Mayor Mike Spano, the IDA’s chairman.
Ginsburg Development anticipates that the construction of the development will create more than 300 jobs over two years. River Tides at Greystone is expected to be ready for occupancy by 2016.
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