The Wilf family just bought this sprawling Midtown compound for $75M

The deal includes two adjoining homes and a small office building

New York /
Mar.March 07, 2019 04:05 PM

9-11 West 54th Street and Skyline Developers president Orin Wilf (Credit: Skyline Developers)

A massive Manhattan compound near Billionaires’ Row has sold, but the $75 million question is what the new owner has planned for the site.

The Wilfs, the family behind Skyline Developers, paid $75 million to acquire the property at 9-11 West 54th Street, which features two adjoining homes and a small office building. If converted to a single-family home, the residence would span about 22,500 square feet — making it one of the largest mansions in Manhattan.

But Orin Wilf told the Wall Street Journal he wasn’t yet sure what he was going to do with the property.

The home was originally constructed for James J. Goodwin, a cousin and business partner of financier J. Pierpont Morgan. Over the years, the buildings have served as a school and as headquarters for U.S. Trust. The buildings are 50 feet wide and originally included 11 master bedroom suites, 11 additional staff bedrooms and 12 fireplaces. They were designed by McKim, Mead & White.

DLJ Real Estate Capital Partners and J.D. Carlisle purchased the buildings for $29 million in 2009. They hit the market for $65 million in 2015, and the asking price was later lowered to $59 million. The office building at 10 West 55th Street wasn’t part of the original offer and thus not included in the original asking price.

Corcoran Group’s Cathy Franklin brokered the deal. [WSJ] — Meenal Vamburkar


Related Articles

arrow_forward_ios
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Governor Kathy Hochul, casino chips, film camera
How Hochul’s film tax credit, casino plan affect real estate
How Hochul’s film tax credit, casino plan affect real estate
Gov. Kathy Hochul
Hochul pitches conversion tax break. Will developers bite?
Hochul pitches conversion tax break. Will developers bite?
A photo illustration of Mohegan Sun's Ray Pineault and Soloviev Group's Stefan Soloviev (Getty, Soloviev Group, Mohegan Gaming & Entertainment)
Soloviev partners with Mohegan on casino bid
Soloviev partners with Mohegan on casino bid
Seth Weissman, John Catsimatidis, Mayor Eric Adams
They said what now? Real estate quotes of the week
They said what now? Real estate quotes of the week
From left: Robert Reffkin and Rupert Murdoch (Getty, Compass)
ChatGPT didn’t write this week’s real estate news roundup, we promise
ChatGPT didn’t write this week’s real estate news roundup, we promise
Seth Weissman, Financing
Urban Standard wants to rescue property owners from high interest rates
Urban Standard wants to rescue property owners from high interest rates
From left: Michael Dell with 25 Water Street, Alex Sapir with 261 Madison Avenue and Marc Holiday with One Madison Avenue (Getty, Edge Funds, Sapir Organization, SL Green)
Office properties (yes, office!) got Manhattan’s biggest December loans
Office properties (yes, office!) got Manhattan’s biggest December loans
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...