1440 Amsterdam Avenue

Artimus and Grid Group secured $210 million from Valley National Bank for a 490-unit project in West Harlem. The development, located at 1440 Amsterdam Avenue, will include a 28-story mixed-use building with 273 parking spaces across 470,000 square feet. Excavation began after Artimus purchased a 50% stake for $17 million. Grid Group acquired the land and air rights from the New York City Housing Authority in 2022. Despite complaints about affordability, developers plan to use a tax abatement requiring 25-30% income-restricted units. Meanwhile, Bruce Teitelbaum revived plans for his One45 complex, proposing more affordable housing after a previous setback.