Sky Equity Group has officially commenced vertical construction on its 24-story luxury condominium project at 65 Franklin Street in Manhattan’s Tribeca neighborhood. Following the completion of foundation work, the tower is now rising above the intersection of Franklin Street and Broadway, marking a significant milestone for the firm as it expands its residential portfolio in New York City.
Key takeaways
- The 24-story luxury condominium is located at 65 Franklin Street in Tribeca.
- Foundation work is complete, and vertical construction is now underway.
- Sky Equity Group is the sole developer following a 2025 restructuring.
- Sales for the residential units are scheduled to launch in 2026.
Construction progress and financing
The project, which officially broke ground in April, has moved into its vertical phase after successfully completing the complex foundation work required for a high-rise in the dense Manhattan landscape. This development is backed by a substantial $320-million construction loan secured through G4 Capital Partners. The project represents a major commitment to the area’s luxury market, with the developer aiming to deliver a high-end residential experience that aligns with the premium standards expected in Tribeca.
Strategic development and site acquisition
The development of 65 Franklin Street involved a complex series of acquisitions and strategic partnerships. Sky Equity Group, led by Simon Dushinsky, expanded the site’s footprint by acquiring the neighboring property at 59 Franklin Street from Bonjour Capital. Additionally, the firm secured air rights from 361 Broadway, a landmarked building located across the street, to maximize the tower’s potential. Following a restructuring and recapitalization effort with HAP Investments earlier in 2025, Sky Equity Group consolidated its position as the project’s sole developer, allowing for streamlined execution of the construction phase.