Formerly a movie theater, the building, built in 1920, currentlyhouses a New York Sports Club, Duane Reade and a branch ofWashington Mutual Bank. Skyline has been in the news recently as itis currently building two residential condo buildings, one at 170East End Ave. and the other at 37 Wall St., as GlobeSt.com hasreported.
Wilf is expanding his retail holdings to Queens. "We feel thatAstoria represents an emerging and still undervalued opportunity,"Wilf says in a prepared release. "We believe this property fitswell into our commercial portfolio."
Skyline Developers is a Manhattan-based affiliate of privatelyheld Garden Homes Development. Garden Commercial Properties, alsoan affiliate, owns and manages more than 20 million sf ofcommercial properties in 37 states nationwide. Skyline alsorecently purchased three buildings for $170 million at 1040,1050 and 1052 Ave. of the Americas as GlobeSt.com reported. Thecompany also purchased 1381 through 1389 ThirdAve. for $36 million, where it plans to construct a luxuryrental property. Skyline was unable to respond to questions bypress time.
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