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David Marom

Tel Aviv entrepreneur David Marom thinks his timing is right.  He has started sales at Monarch at Ridge Hill, his planned $240 million, 500-unit condominium and retail complex in Yonkers, NY.

One-bedroom condos are priced from the mid-$200,000s to mid-$400,000s and two-bedroom units will sell from $400,000 to the high $700,000s.

The project is on the western edge of the 1.3-million-square-foot commercial "village" recently renamed Westchester's Ridge Hill by its Brooklyn-based developer, Forest City Ratner Cos.

Like its neighboring retail stores and offices, the first of four Monarch towers planned for the 81-acre site, a 13-story, 167-unit glass-sheathed building, is expected to open for occupants by spring 2011, according to the Westchester County Business Journal.

Marom told the Business Journal the tower's construction, on which 75 to 110 workers are employed, has been paced so as to open in concert with Ridge Hill's retail tenants, which include Whole Foods, Apple, L.L. Bean and Cinema DeLux.

"We feel like if we open, the whole center should be open at one time," he told the newspaper.

Monarch at Ridge hill rendering, Yonkers, NY

Marom in the 1980s founded The Horizon Group, a real estate development and investment company with several residential and commercial projects on Long Island and more recently in New Jersey and New York City.

Since 1992, Marom has partnered on his projects with fellow Israelis in two companies, Izaki Group Investment (IGI), the lead investor in a mix of real estate projects totaling more than 60 million square feet primarily in the U.S. and Europe, and Azorim, a publicly traded construction company and one of the largest in Israel.

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