the first rendering of 580 Gerard have been revealed, designed by Issac & Stern Architects. The site, which was purchased by Silverback Development in Q3 2020, offers 214,800 square feet of development rights.
The $90 million development, purchased with Opportunity Zone equity, will be an eight-story multi-family rental complex comprised of 200 units, with 30 percent designated affordable, ranging from one- to two-bedroom homes, and also include retail space and parking. Residences will feature modern design and premium finishes, as well as a robust amenity package which will include a sun deck, touchless elevators, fitness center, yoga room, grilling stations, screening room, party room, and bike storage.
580 Gerard is ideally situated between the South Bronx waterfront and the express 2, 4, and 5 subway lines — near local attractions such as the Universal Hip Hop Museum, Food Bazaar (the borough’s largest grocery store) and the new soccer stadium megaproject — all within a five-minute subway ride to Manhattan, 10 minutes to midtown. Demolition plans have been filed and construction is expected to soon begin.