Hilton Grand Vacations Co. last month started construction on the first ground-up timeshare property in New York City. The project, called the West 57th Street by Hilton Club, is in a prime midtown location between 6th and 7th Avenues.

Once complete in 2009, the property will have 161 studio, one-bedroom and penthouse suites. Deeded one-week intervals start at $41,000 for a studio and range to more than $100,000 for a penthouse. HLW International is the architect on the project, while Alexandra Champalimaud & Associates is designing the interiors.

Given its urban setting, the property has a different set of amenities than do traditional resort-based timeshare facilities. Centerpiece is a street-level Spa Charka. Its offerings will include massages, facials, body treatments and signature Chakra Health therapies. Other facilities and services include an outdoor terrace, owners lounge with daily f&b presentations, wireless high-speed Internet access throughout the building, concierge service, laundry service, nightly turndown and a 24-hour doorman.