Former property owner Assa Properties sold the building prior to reaching a settlement with the city (CityRealty/Google Earth)
Well, that didn't take long. In January, Abraham Leifer of Aview Equities closed on the 10-story building at 19 West 55th Street, between Fifth and Sixth Avenues, for $50 million and has already filed permits for a 5-story vertical enlargement (from 90 feet tall to 164 feet) and to convert its 27 stabilized and market-rate rentals into just 10 luxury condos. Gene Kaufman is listed as the architect of record.
The sale closed prior to the announced $1.2 million settlement the city reached with former owner Salim Assa of Assa Properties, who was accused of allowing illegal Airbnb rentals in his four apartment buildings, one of which was 19 West 55th. The Commercial Observer reported it was the largest financial penalty ever imposed on a landlord in an illegal hotel nuisance abatement lawsuit.
At the time, Assa said, "We are hotel owners here in New York. It would be against our self-interests to knowingly let tenants turn to Airbnb, a service which competes directly with established and regulated hotels in the City. We also support initiatives to keep tenants safe by ensuring that all residents are subject to full background checks and Airbnb does not enforce these standards."
At the time, Assa said, "We are hotel owners here in New York. It would be against our self-interests to knowingly let tenants turn to Airbnb, a service which competes directly with established and regulated hotels in the City. We also support initiatives to keep tenants safe by ensuring that all residents are subject to full background checks and Airbnb does not enforce these standards."
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19 West 55th Street in October 2017 (Google street view)
The property, along with the attached next-door building at 15 West 55th Street, was known as "The Branson," which Assa acquired for $60 million back in 2013. He has since spent $18 million on extensive renovations to bring its interiors and amenity spaces up to Fifth Avenue standards.
And now, it'll be revamped again as permits state all existing layouts will be changed. Floors 3-6 will hold two residences each, and the rest will hold one each, with the exception of floors 13-15, which will house a penthouse triplex that will feature an outdoor terrace and pool.
Amenities at this forthcoming conversion will include a wellness center, residential lounge, kids room, dog spa, and residential storage in the cellar. Retail space and a residential lobby will occupy the first level.
CityRealty data shows there hasn't been a listing available in the building since September 2017, so it's likely the new owners are trying to clean house.
And now, it'll be revamped again as permits state all existing layouts will be changed. Floors 3-6 will hold two residences each, and the rest will hold one each, with the exception of floors 13-15, which will house a penthouse triplex that will feature an outdoor terrace and pool.
Amenities at this forthcoming conversion will include a wellness center, residential lounge, kids room, dog spa, and residential storage in the cellar. Retail space and a residential lobby will occupy the first level.
CityRealty data shows there hasn't been a listing available in the building since September 2017, so it's likely the new owners are trying to clean house.
Aerial view of 19 West 55th Street
The site is located just across the street from 12-18 West 55th Street, a lot Skyline Developers is developing into the "Future home of upscale." No word on what type of development it will be but we should expect something "appropriate for the site," rather than a residential tower to rival those along Billionaires’ Row.
The prime area is just a block away from the Museum of Modern Art and a few blocks from the E, M, N, R, and W trains.
The prime area is just a block away from the Museum of Modern Art and a few blocks from the E, M, N, R, and W trains.
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Sandra Herrera
Sandra Herrera is a writer, editor, and graphic designer based in Brooklyn, NY.
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