Nelson Management and L+M Development unveil renderings for $14 million transformation of Promenade Apartments

With a transformation program underway, Nelson Management Group and L+M Development Partners have unveiled the first renderings for Promenade Apartments. Perched above the water in the Riverdale neighborhood at 150 West 225th St., the 318-unit waterfront tower is in the midst of a full-scale $14 million capital improvement initiative. The 33-story, 312,000 s/f property, managed by Nelson Management Group, features Hudson River and Manhattan skyline views. The location stands steps away from the entrance to the Metro-North Railroad station and the No.1 subway line. The new renderings of the Promenade Apartments by landscape architects Abel, Bainnson Butz, LLP include: * Views of the new outdoor deck that overlooks the Hudson and East Rivers and will feature cabanas with outdoor couches, a grass-covered terrace, a children's playground, reclining deck seating, warm foliage, trees and more. * The new street entrance to the property with illuminated signage, walkway lighting and foliage. The property's full-scale makeover is being undertaken by Nelson Management Group, through its investment arm Global One Investments led by principals Robert Nelson and Michael Gerstein, and L+M Development Partners, through its New York Affordable Housing Preservation Fund (NYAH). The upgrades include extensive renovations to the Promenade Apartments' interior common areas, lobby, hallways and individual units. The improvement program also extends to a range of amenities, including a new, expansive outdoor deck overlooking the water; spacious outdoor recreation areas; a new state-of-the-art gym; and a two-story, covered and gated parking lot. "These much-needed, all-encompassing renovations will redefine affordable luxury living in New York City and propel Promenade Apartments into a new era," said Robert Nelson, president of Nelson Management Group and principal of Global One Investments. "This appealing venue is located less than a half hour from Midtown Manhattan," he said. "And it's complemented by a growing roster of amenities tailored to the needs of the property's diverse range of established and new tenants, who will benefit from a new level of quality living at Promenade Apartments." The renovated one, two and three-bedroom apartments -- each with private balcony -- tout hardwood floors, granite counters, stainless-steel appliances, microwave ovens, open kitchens and plentiful designer closets. The owners have also installed four new elevators, a new, high-efficiency heating system, two new gas boilers, LED lighting, and a new roof. Additional amenities include a 24-hour doorman and a state-of-the-art security camera system throughout the entire development. Promenade Apartments is situated minutes from the River Plaza shopping mall, which includes a Target, Marshalls, Planet Fitness and other retailers, as well as a diverse array of restaurants, additional retail, parks and schools.