Skyline Developers secures $26 million construction loan for Midtown project

Manhattan, NY Skyline Developers has secured a $26 million construction loan from Bank of America to construct a ground-up new development in Midtown. The 24-story rental building will be located at 1050 Avenue of the Americas between 39^th and 40^th Sts.

“1050 Avenue of the Americas will meet the market demand for luxury residential in a truly central Manhattan location where residents can live, work and play while being in the center of it all. This building is a short walk to many surrounding office buildings and in close proximity to major transportation hubs. Bryant Park is an incredible amenity, as are its many surrounding restaurants and nearby Fifth Ave. retail,” said Orin Wilf, president of Skyline.

Skyline has commissioned Gene Kaufman of GKA Architects to design the boutique building, which is on track to break ground later this spring. Occupancy is slated for fall 2018.

1050 Avenue of the Americas is steps from the B, D, F, M and 7 subway lines at Bryant Park, offering quick access uptown and downtown, and a short walk to both Grand Central Station and Penn Station

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