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Silverback Partners on Midtown Condo Tower Project

Silverback Development is reportedly partnering with Hong Kong-based Hopson Development Holdings, to build a $250-million residential condominium tower in Midtown Manhattan. Located at 131 E. 47th St., the 200-unit tower, designed by Ismael Leyva Architects, will offer approximately 5,000 square feet of retail at its base.

“It is an honor to develop a project of this caliber and we are uniquely positioned with on-the-ground expertise to create an exceptional offering,” said Silverback managing principal Josh Schuster. “It’s also a real testament to our abilities and our commitment to delivering best-in-class properties, even during this COVID pandemic.”

Previous structures on the development site were demolished three years ago. Construction of the new tower is slated to begin midsummer, with completion expected in 2022. Silverback was tapped as the development partner for this project following an extensive, months-long RFP process

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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