Spider reveals “25” condo tower in Edgewater

12-story tower received design approval in December

Apr.April 21, 2016 08:45 AM

Edgewater is getting another condo tower.

Spider expects to break ground on “25,” a 93-unit condo tower on Northeast 25th Street, by the end of 2016, a spokesperson confirmed to The Real Deal.

“25” will sit on a 27,000-square-foot plot at 113 to 123 Northeast 25th Street that the company purchased in August for $4.4 million. It will replace a boutique apartment building and a single-family home, property records show.

Andres Goldenberg, Spider principal, said in a press release that the project will target the middle-end segment of the market. The 12-story tower will include amenities such as theater and music rooms, a fitness center, spinning room, outdoor yoga, a Japanese garden, outdoor grill area, and a sun deck on the 12th floor. Units will range from one to three bedrooms and from 700 square feet to 1,500 square feet. Units on the fourth floor will feature terraces of about 1,000 square feet, according to the press release.

Construction will be completed about 20 months after breaking ground by the fourth quarter of this year. The developer’s spokesperson said Spider is in the midst of drafting a preliminary price list and will launch sales later this year. The project received design approval in December.

Spider is also building Spark, a 28-story, 56-unit condo tower nearby at 522 Northeast 34th Street. The project is about 40 percent sold, the spokesperson said.

The “all-in-one real estate solutions” company is made up of three entities: developer, brokerage and services, the latter of which includes accounting, legal and financial. Goldenberg and Eskenazi, who leads the board of directors and operations, have invested in the company and also have South American backers.

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