North Cove Nears Completion at 3875 Ninth Avenue in Inwood, Manhattan

 

Construction is nearing completion on North Cove, a 30-story residential building at 3875 Ninth Avenue on the Harlem River waterfront in Inwood, Manhattan. Designed by Aufgang Architects and developed by Maddd Equities, the 295-foot-tall structure will span 544,000 square feet and yield 611 affordable rental apartments. The project will also include 60,000 square feet of lower-level retail space, residential amenities, and 120 parking spaces. The property is alternately addressed as 373 and 375 West 207th Streets and is bounded by West 207th Street, Ninth Avenue, and the Harlem River.

The building was constructed to its pinnacle and almost entirely enclosed in its façade since our last update in early February 2024, when the reinforced concrete superstructure had recently passed the halfway mark. The following photos show the look of the tower’s red and beige brick exterior and grid of rectangular windows with black metal spandrels. Some scaffolding remains standing around the lower levels as crews finish installing the floor-to-ceiling glass panels.

The property was formerly vacant, as seen in the below aerial image from before construction broke ground.

Joy Construction Corporation and Maddd Equities are completing the project with the help of $288 million in financing secured in 2023. Wells Fargo’s Community Lending and Investment provided the financial package, which includes a $155 million letter of credit to back NYC-issued tax-exempt bonds arranged by CLI Debt. The remaining $133 million was provided by CLI Equity as an equity investment through the purchase of Low Income Housing Tax Credits and New York State Brownfield Redevelopment Tax Credits.

Residential amenities at North Cove will include bicycle storage, recreation rooms, shared laundry facilities, outdoor lounge and recreation spaces, and picnic areas. The property will also offer public access to an adjacent waterfront park on land provided by the city.

The nearest subway is the local 1 train at the elevated 207th Street station to the west.