Skyline Developers Starts Construction on New Multifamily Project in Midtown

The Wilf family's company, Skyline Developers, has begun construction on a brand-new apartment community located at 18 West 55th Street in the heart of Midtown, Manhattan. This project involves the transformation of an empty lot into a stunning multifamily residential complex. The apartment tower, standing at 26 stories and spanning 152,000 square feet, will offer a total of 97 rental apartments, along with a wide range of lifestyle amenities.

The whereabouts: This exciting development will sit on the same block as The Peninsula New York Hotel and will be conveniently close to world-renowned attractions like The Museum of Modern Art (MoMA), Central Park, and the upscale shopping district of Fifth Avenue. The renowned architect Morris Adjmi has been selected by Skyline Developers to design 18 West 55th Street, and Goldman Sachs will serve as the construction lender for this project. The anticipated completion date for 18 West 55th Street is set for 2025.

Location, location, location: Residents of this new property will enjoy the convenience of being just a short walk away from multiple transit and subway lines, as well as several commuter rail options. Additionally, the area offers an array of parks and recreational facilities, including the Sony Wonder Technology Lab, Central Park Zoo, Damrosch Park, Central Park itself, and Bryant Park – all within easy walking distance of 18 West 55th Street.

The backstory: This latest development represents a continuation of the Wilf Family's and Skyline Developers' long-standing legacy in the world of real estate, dating back to their inception in 1954. Originally established as Garden Homes' New York City affiliate in 1999, Skyline Developers has enabled the Wilf Family to leverage their nearly half-century of experience in the real estate industry within the largest real estate market in the world. They have successfully introduced luxury residential properties to New York City's Financial District.

Over the years, Skyline Developers has expanded its portfolio to include rental and condominium residential developments, as well as office and retail buildings spanning across Manhattan. Among their notable properties are ML House at 1050 Avenue of the Americas and 200 East 79th Street. Just recently, a joint venture secured $42 million in financing for an acquisition and construction project for a condominium development in the Hell's Kitchen neighborhood on Manhattan's West Side.