$100 Million Development in Yonkers is GDC’s Third Major Luxury Rental to Open in Westchester in Less Than a Year

YONKERS, NY (May 16, 2017) – Continuing the momentum as the region’s leading developer of resort-style luxury rentals, Ginsburg Development Companies (GDC) today joined with Yonkers Mayor Mike Spano along with other City, County and State officials to celebrate the grand opening of River Tides at Greystone. The new 330-unit luxury rental building features resort-class amenities and spectacular views of the Hudson River and Palisades. The $100 million project is GDC’s third major luxury rental development to open in Westchester in less than a year.

“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. And there’s more on the way. This fall, we will be opening a new 55-unit luxury rental apartment building located just up the road in the Greystone neighborhood called [email protected],” said Martin Ginsburg, Principal of GDC.

“As with our other recently completed rental communities, River Tides at Greystone sets a new standard of excellence with high quality design, finishes and amenities unlike anything seen before in today’s luxury rental market. Every day residents will feel like they are coming home to vacation” he added.

“River Tides is the new definition of luxury living in Yonkers,” said Yonkers Mayor Mike Spano. “Developments like this are popping up on our waterfront — providing the convenience of public transportation, along with the tranquility and beauty of living along the Hudson River. Thank you to Ginsburg Development Companies for their commitment and vision to help make Yonkers a better place to live, work and play.”

“The opening of the River Tides at Greystone is great news as Westchester continues to develop as an accessible place to live,” said Westchester County Executive Robert P. Astorino. “Located just a 32-minute train ride to Manhattan, the River Tides at Greystone makes Westchester even more attractive as a place where residents can live, work and play.”

Located in a quiet residential neighborhood on Warburton Avenue near the Hastings-on-Hudson city line, River Tides at Greystone features a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with spectacular river views. The apartments feature stainless steel appliances, Euro-style cabinetry, stone countertops, bay windows and terraces. 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 Rivers Tides at Greystone include 24 hour front desk concierge service, elegant two-story lobby, club lounge; fitness center with available personal trainers and yoga classes, a unique and inspiring spa center with licensed massage therapists; and a spectacular 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 firepit lounge. As a transit oriented development, River Tides at Greystone has a direct walkway to the Greystone Metro-North platform, which is just a 30-minute commute to Grand Central.

River Tides at Greystone is the latest GDC luxury rental development to open in Westchester. The company’s other developments include 188-unit Harbor Square on the Ossining waterfront; 66-unit The Lofts on Saw Mill River in Hastings-on-Hudson, and The Metro, a 124-unit,building in downtown White Plains.

GDC will soon break ground on Fort Hill, a mixed-use development in Peekskill that will feature the Abbey Inn and Restaurant, as well as a spa, luxury rentals apartments and the Gateway Townhomes. The project is located on the former St. Mary’s Convent property overlooking the Hudson River and will have direct access to over 60 acres of woodland trails.

For more information about River Tides at Greystone and other GDCRentals, please visit www.gdcrentals.com.

From left, Yonkers Mayor Mike Spano; GDC Principal Martin Ginsburg and Yonkers City Council President Liam McLaughlin

YONKERS, NY (November 2, 2016) – Ginsburg Development Companies (GDC) today joined with Yonkers Mayor Mike Spano along with other city officials and dignitaries to celebrate the “topping off” of River Tides at Greystone, a new 330-unit luxury rental building featuring resort-class amenities and spectacular views of the Hudson River and Palisades.

The topping off, which marks the completion of the final floor and roof of the north tower, was celebrated with the raising of a giant American flag along the side of the 10-story building. Joining in the festivities were more than 100 construction workers who are working on the $100 million project.

“Today’s ceremony is yet another milestone for the GDC Rentals brand of luxury rentals with resort-style amenities, which we launched just two years ago with the groundbreaking of this project. Since then we have successfully completed luxury rental communities in Haverstraw, Ossining and Hastings-on-Hudson. And another GDC rental is under construction just a block north of this property,” said GDC Principal Martin Ginsburg. “Returning home to River Tides will feel like coming home to vacation every day, fully delivering on the GDC Rentals brand promise,” he added.

“Today we place the finishing touches at River Tides, a project that will certainly establish Greystone as one of the premier apartment neighborhoods in Yonkers and Westchester,” said Yonkers Mayor Mike Spano. “I applaud Ginsburg Development Companies for its unwavering commitment and investment in Yonkers and look forward to the ribbon cutting!”

Located in a quiet residential neighborhood on Warburton Avenue near the Hastings-on-Hudson city line, River Tides at Greystone features a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with spectacular river views. The apartments feature stainless steel appliances, Euro-style cabinetry, stone countertops, bay windows and terraces. Monthly rents range from $1,495 for a studio to $4,995 for a corner penthouse apartment Occupancy is scheduled for Spring 2017.

Luxury amenities at Rivers Tides at Greystone include 24 hour front desk concierge service, elegant two-story lobby, club lounge; fitness center with available personal trainers, spa center with yoga classes and licensed massage therapists; and a spectacular resort-style swimming pool and deck with cabana seating, seven barbeque stations, playground and outdoor firepit lounge. As a transit oriented development, River Tides at Greystone has a direct walkway to the nearby Greystone Metro-North station which is just a 30-minute commute to Grand Central.

River Tides at Greystone is the latest GDC luxury rental development to open in Westchester. In recent months, GDC celebrated the grand openings of Harbor Square in Ossining and The Lofts on Saw Mill River in Hastings-on-Hudson. Both offer luxury rentals with first-class amenities which are the hallmark of GDC’s resort-style residences. GDC recently broke ground on [email protected], a new 55-unit luxury rental apartment building located one block north of River Tides in the Greystone neighborhood of Yonkers.

For more information about River Tides at Greystone and other GDC Rentals, please visit www.gdcrentals.com.

YONKERS, NY (October 21, 2014) – Construction of one the largest residential developments to be built in Yonkers in recent years got underway today as City officials joined with executives of Ginsburg Development Companies (GDC) to break ground for River Tides at Greystone, a new $100 million, 330-unit luxury rental complex overlooking the Hudson River.

(Pictured from left to right are Yonkers City Council Minority Leader Michael Sabatino, Council Member Dennis Shepherd, City Council President Liam McLaughlin, Mayor Mike Spano, Developer Martin Ginsburg, New York State Assembly Member Shelley Mayer, Council Member Christopher Johnson, Majority Leader John Larkin and Council Member Mike Breen at the Groundbreaking Ceremony of GDC’s River Tides luxury rental development.)

Located just a short walk from the Greystone Metro-North station, River Tides at Greystone will set a new standard for luxury rental living in Westchester County offering Manhattan-style finishes and amenities as well as breathtaking views of the Hudson River and the Palisades.

The debut of River Tides at Greystone marks the launch of the Ginsburg’s new GDC Rentals brand of luxury rental apartment buildings. “Set against the backdrop of one of the most spectacular views in North America, we are extremely excited to break ground on River Tides, which will become a flagship property of the new GDC Rentals brand,” said Martin Ginsburg, Principal of GDC, which currently has riverfront luxury rental communities under way, Riverside in Haverstraw and Harbor Square in Ossining.

Designed in a stunning contemporary architecture with expansive exterior corner walls of glass, the 10-story River Tides at Greystone will feature a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom units, many with direct views of the Hudson. Luxury amenities include 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 spectacular resort-style swimming pool and deck with cabana seating, seven barbecue stations, playground and outdoor firepit lounge. The apartments will feature stainless steel appliances, Euro-style cabinetry, stone countertops, bay windows and terraces, many with river views.

Located in a quiet residential neighborhood near the picturesque Untermyer Park, River Tides at Greystone will have a direct walkway to the Greystone Metro-North station which is just a 30-minute commute to Grand Central.

“There are absolutely no residential rental buildings in Westchester to compare with what we are offering at River Tides at Greystone,” Mr. Ginsburg said. “We are taking luxury rentals to a new level of elegance and resort-style living. 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.” First residential occupancy is expected in Fall 2016.

GDC has owned the site in the Greystone section of Yonkers since the 1970’s, a neighborhood where the firm previously built more than 600 rental and condo units. “This is our prime site in the neighborhood. Until now all of the factors didn’t come together to develop it,” said Mr. Ginsburg.

“The City of Yonkers is delighted that Martin Ginsburg’s commitment to invest in our city has never wavered and today we welcome the beginning of River Tides, a project that will certainly establish Greystone as one of the premier apartment neighborhoods in Westchester,” said Yonkers Mayor Mike Spano. “We are particularly pleased that River Tides will have its own walkway to the Greystone Station of Metro-North Railroad, reflecting our commitment to Transit-Oriented-Development.”

River Tides at Greystone is receiving benefits from the Yonkers Industrial Development Agency that include $3.7 million in mortgage recording tax and sales tax exemptions. “The public-private partnership between GDC and our IDA demonstrates the willingness of our city to work with the private sector to stimulate investment in Yonkers,” said Mayor Spano, Yonkers IDA Chairman. “This property, which has been taxed as vacant land for decades, will now become an important addition to the city’s tax base.”

In addition to generating new tax revenue for Yonkers, River Tides at Greystone is expected to create more than 300 construction jobs over a period of two years.

Westchester-based GDC has been the leading builder of luxury townhome condominiums in the northern suburbs of New York City over the last several decades. River Tides at Greystone, along with the ongoing construction of Harbor Square in Ossining and Riverside in Haverstraw, represents a new company focus on building luxury rental apartments.