The Real Deal New York

Wilf family scores $91M mortgage for mysterious Midtown compound

The behind Skyline Developers purchased a sprawling site in Midtown for $75M last week.
March 13, 2019 10:00AM

Skyline Developers president Orin Wilf and an aerial of 9 West 54th Street and 10 West 55th Street (Credit: Google Maps and Skyline Developers)

Plans may be TBD, but the Wilf family picked up financing to refinance its growing Midtown Manhattan compound.

The family behind Skyline Developers paid $75 million last week for 9 West 54th Street and 10 West 55th Street, a 22,500 square feet space if the two buildings were converted to a single family home. The firm paid $20 million for the 54th Street property, and $55 million for the 55th Street property, records show.

Goldman Sachs issued a $91 million loan, according to mortgage documents that were recorded in city records on Tuesday. The new financing provides a $45 million new mortgage and covers payments for the two properties and a third vacant site at 12-18 West 55th Street, for which the firm paid $83 million to acquire in 2017.

In 2009, the buildings were purchased by DLJ Real Estate Capital Partners, and J.D. Carlisle for $29 million. In 2015, 9 West 54th Street was listed for $65 million in 2015, and the asking price was later lowered to $59 million. The latest sale included 10 West 55th Street.

The developer’s plans for the site are unclear. The buildings were initially constructed for James J. Goodwin, a cousin and finance partner to J.P. Morgan. The buildings have since been home to a school and were occupied by the U.S. Trust. Together, the buildings contain 11 bedroom suites, 11 additional staff bedrooms and 12 fireplaces.