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Silverback Development
11–50 employees 1 principals
Last updated
About Silverback Development
Silverback Development is a real estate operator. Silverback Development operates in Bridgeport-Stamford-Norwalk, Connecticut, New York City, New York and Washington DC. Its investment focus is on Affordable Housing, Hospitality and Multifamily - Ground-up.
Silverback Development is a New York City-based real estate development and investment firm founded in 2016 by Joshua Schuster. Operating with a staff of 11 to 50 employees, the firm specializes in ground-up development, adaptive reuse, site acquisition, and project execution across residential, retail, affordable housing, and mixed-use sectors. Across its active pipeline and completed projects, the enterprise has overseen real estate developments encompassing over 3 million square feet valued at approximately $2.5 billion across six U.S. states. Signature projects in its regional footprint include high-end multi-family developments in Gramercy Park (such as 351–359 Second Avenue), a $90 million Opportunity Zone residential project in the South Bronx, and commercial developments across Brooklyn Heights, Stamford, Connecticut, and Washington, D.C. **Legal Updates** In February 2026, founder Joshua Schuster pled guilty in the U.S. District Court for the Southern District of New York to one count of securities fraud. Federal prosecutors detailed a Ponzi-like scheme spanning five years where Schuster misappropriated over $13 million in investor funds intended for New York real estate developments to cover personal expenses, debt, and unrelated payroll obligations. The criminal proceedings followed civil enforcement charges brought by the U.S. Securities and Exchange Commission (SEC) in May 2025 targeting Schuster and Silverback Enterprises.