Wilf family scores $91M mortgage for mysterious Midtown compound

The behind Skyline Developers purchased a sprawling site in Midtown for $75M last week.

New York /
Mar.March 13, 2019 10:00 AM

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.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Bank OZK CEO George Gleason (Photos via Bank OZK; iStock)
Bank OZK’s Q4 was “strong end to challenging year”
Bank OZK’s Q4 was “strong end to challenging year”
17 West 54th Street and Stuart Froum (Google Maps, Linkedin)
Renovation of stately co-op pits gum surgeon against board
Renovation of stately co-op pits gum surgeon against board
Gov. Andrew Cuomo (Getty, iStock, NY State Budget)
Cuomo proposes tax credits for restaurants, income tax increases
Cuomo proposes tax credits for restaurants, income tax increases
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)
7 Manhattan hotels head to auction block
7 Manhattan hotels head to auction block
Clockwise from top left: 48 Bedford Avenue in Williamsburg; 7601 4th Avenue in Bay Ridge; 55-25 58th Street in Maspeth; 42, 44 and 46 21st Street in Flatiron; 59-20 Van Doren Street in Corona (Photos via StreetEasy; Google Maps)
Mid-market investment sales off to strong start in 2021
Mid-market investment sales off to strong start in 2021
(Getty, iStock)
Flooding caused by climate change leads to mounting real estate costs
Flooding caused by climate change leads to mounting real estate costs
arrow_forward_ios

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

Loading...