Skyline Developers Breaks Ground on NYC Tower
The Wilf family’s company has commenced construction on a Manhattan residential property.
The Wilf family’s Skyline Developers has broken ground on a new apartment community at 18 West 55th Street in Midtown Manhattan. Transforming a vacant lot into new multifamily residences, the 26-story, 152,000-square-foot apartment tower will feature 97 rental apartments.
The new development will occupy the same block as The Peninsula New York Hotel, and be near the Museum of Modern Art, or MoMA, as well as Central Park and Fifth Avenue. Architect Morris Adjmi was appointed to design 18 West 55th Street. Goldman Sachs is the construction lender for the development. The project is due to be completed by 2025.
The new property will be within a several minutes’ walk of several transit and subway lines and near commuter rail options. Area parks and recreation options include Sony Wonder Technology Lab, Central Park Zoo, Damrosch Park, Central Park and Bryant Park, all located within walking distance of 18 West 55th Street.
The Wilf family’s and Skyline Developers’ legacy of development stretches back to 1954. Established in 1999 as Garden Homes’ New York City affiliate, Skyline enabled the Wilfs to bring their nearly half-a-century of experience to the world’s largest real estate market and to subsequently introduce luxury residential properties to the city’s Financial District.
Skyline Developers has since expanded to encompass rental and condominium residential developments, along with office and retail buildings across Manhattan. Among its higher-profile properties are ML House at 1050 Avenue of the Americas, and 200 East 79th Street. Earlier this month, a joint venture landed $42 million in acquisition and construction financing for a condominium development in the Hell’s Kitchen neighborhood on Manhattan’s West Side.