New Condos Headed to Gramercy in 2020

359 Second Avenue via Google Maps

A new development firm, Silverback Development, has announced plans for a new project at the corner of East 21st Street in Gramercy.

The building will sit at 351-359 Second Avenue and will measure around 80,000 square feet, stand 145 feet tall, and hold 65 condo apartments. The condos will range from studios to one-bedroom homes, and some will be able to be combined to create larger apartments if buyers are interested. A portion of the condos will be priced below $2.5 million.

The founder of the development firm, Josh Schuster, partnered with the owner of the site, who purchased the lots for $32.75 million back in 2013, as well as 8,200 square feet of air rights. Silverback expects to spend $100 million in total on construction.

The project will begin in 2018 and is predicted to be completed by 2020.