NEW YORK, NY – New York-based real estate owner, developer and investor Silverback Development recently broke ground on its new project at 131 East 47th Street with a traditional Chinese Feng Shui ceremonial blessing led by Master Pun-Yin, the building’s Feng Shui consultant.
Master Pun-Yin is a revered practitioner who has worked on many notable projects in New York City, including the revitalization of Times Square and Columbus Circle in the 1990’s. This ceremony marked the start of construction on Silverback Development’s newest premium residential tower in the heart of Midtown Manhattan.
Located between Lexington and Third Avenue, the building will feature 191 apartments as well as approximately 2,700 square feet of commercial space at its base. Once complete, the 455-foot tower will offer a variety of floorplans. Additionally, the project will incorporate state-of-the-art technology such as touchless features, UV lighting, and air purification and filtration, among other post-COVID-19 technological innovations.
For more information on Silverback Development visit www.slvrb.com
Silverback Development: Founded and led by next-generation industry leader Josh Schuster, Silverback Development has a proven record of executing high quality residential and commercial projects. Since its inception, the Company has developed more than one million square feet of luxury residential development in NYC alone. Silverback leverages its professionals’ cumulative expertise in development, construction management, and investing to capitalize on current market trends and countercyclical opportunities through careful underwriting of projects in select urban markets throughout the country.
Currently, Silverback has a pipeline of projects valued in excess of $4B across four states and employs a robust investment strategy to pursue ground-up development and adaptive reuse opportunities. The Company also has over $1B in active projects under development, including luxury condominiums in Long Island City, Brooklyn Heights, Gramercy Park, Upper Manhattan, and one of the largest buildings in Fort Lauderdale, Florida. The Firm also recently launched a $200M opportunity zone fund to focus on development opportunities in key metropolitan areas.