Skyline Developers sells Midtown West landmark to Florida nonprofit for $38.2M

Orin Wilf’s Skyline Developers sold 9 West 54th Street, a landmarked office building in Midtown West, for $38.2 million to the Miami-based nonprofit, the William R. Berkley Foundation. The sale was closed on June 10, 2025, and recorded on June 16, 2025. The contract for the sale was dated March 24, 2025.
Orin Wilf signed for Skyline Developers. William R. Berkley, president of the foundation, signed for the buyer.

The property

The office building in Midtown West has 24,449 square feet of built space according to a PincusCo analysis of city data. The sale price per square foot is $1,562 per foot. The parcel has frontage of 50 feet and is 100 feet deep with a total lot size of 5,020 square feet. The property is an Individual Landmark, the James J. Goodwin Residence. The city-designated market value for the property in 2022 is $7 million.

Prior sales and revenue

This property was last purchase for $55 million on March 5, 2019. It’s unclear if some air rights were transferred to Skyline Developers’ tower being constructed at 18 West 55th Street under job number 121208095.

The 24,449-square-foot property generated revenue of $1.3 million or $53 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $100 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Midtown West, The majority, or 75 percent of the 75.9 million square feet of commercial built space are office buildings, with hotel buildings next occupying 14 percent of the space. In sales, Midtown West has the 2nd highest sale turnover among other neighborhoods in the city with $2.7 billion in sales volume in the last two years. For development, Midtown West is the most active neighborhood among other neighborhoods. It had 35.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 46 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 18 of the 28 commercial properties representing 1,207,757 square feet of the 1,502,530 square feet. The largest owner is Andrew Davidoff, followed by Arboretum Capital and then Jin Sup An. On the tax block, there was one new building construction project filed totaling 432,306 square feet. It is a 96-unit, 432,306 square-foot residential (R-2) building submitted by Skyline Developers and filed by Leonard Wilf with plans filed May 8, 2020 and permitted February 8, 2023.

The owner

The PincusCo database currently indicates that Skyline Developers owned at least 19 commercial properties with 711 residential units in New York City with 1,318,084 square feet and a city-determined market value of $346.3 million. (Market value is typically about 50% of actual value.) The portfolio has $153.2 million in debt, borrowed from Goldman Sachs and JPMorgan Chase. Within the portfolio, the bulk, or 48 percent of the 1,318,084 square feet of built space are elevator properties, with office properties next occupying 26 percent of the space. The bulk, or 85 percent of the built space, is in Manhattan, with Brooklyn next at 15 percent of the space.

The surrounding

Within a 400-foot radius of 11 West 54 Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months. Of those three items, one was for major renovation including a certificate of occupancy change. It was a permit issued on March 18, 2025 for the $1.4 million renovation of 171,504-square-foot business (COM) building with zero residential units at 680 5th Avenue. Of those three items, two were sales above $5 million totaling $34.1 million. The most recent of the two was Summit Properties which bought the 40,197-square-foot, one-unit hotel (H1) on 39 West 55th Street for $22.1 million from Larry Wohl on May 5, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.