In 1852, Woodworth speculated on real estate north of New York City near the Hudson River Railroad Line with his business partners Henry Atherton, Samuel Babcock, and Charles Foster. They bought a tract on Independence Avenue where Woodworth would construct an Italianate-style villa. His partners and himself laid out plans for a community of villas and country lanes and named their development Riverdale. The initial investments for their personal property resulted in further homes being constructed by others, including villas that became known as "The Park-Riverdale", as well as the construction of Stonehurst Mansion for the Colgates. Other eventual, notable residents included Henry F. Spaulding, William Appleton, William Duke, Laura Harriman, Percy R. Pyne, and Moses Taylor Pyne.