Second Development Services (SDS) and Procida Realty & Construction Company announced today that it will begin construction later this year of a $135 million, 7-story condominium apartment project at 405 West 53rd Street.

The 201,000-square feet development, which is scheduled to begin next Spring and to be completed in the fall of 2008 will have 82 units and 300 parking spaces.

The project will have 9 maisonettes, 22 duplex townhouse units and 51 "simplex" units. The design by Henry Smith-Miller of Smith-Miller + Harkinson Architects calls the maisonettes to have courtyards behind steel "curtains."

Many of the apartments will have angled bay windows.

SDS Procida, of which Louis V. Greco Jr., and Mario J. Procida is the principals, is a joint venture between Second Development Services, which is based in Brooklyn, and Procida Development, which is based in the Bronx.

SDS Procida is a real estate development and management company initially focusing on development projects in the New York metropolitan area, while offering real estate management consulting services and financial partnership opportunities.

SDS Procida recently topped off "On Prospect Park," its major project at 1 Grand Army Plaza in Brooklyn, a 15-story, 114-unit condominium apartment building designed by Richard Meier that overlooks the Soldiers' and Sailors' Memorial Arch and is close the Brooklyn Museum of Art and the entrance to Prospect Park.

Other projects by the joint venture include Clinton West, a 147-unit condominium at 516 West 478th Street, which sold out last summer, 90 William Street, a 16-story commercial conversion in the Financial District, and 189 Schermerhorn Street, which consists of a 25-story tower and a 7-story loft building, both under construction in Brooklyn.