The first purpose-built timeshare project in New York City got closer to fruition with a topping-off ceremony last month. Hilton Grand Vacations is developing the 161-unit, 28-story West 57th Street by Hilton Club in midtown Manhattan. It opens in the second quarter of 2009.

With deeded interests averaging $58,000 per week, the property has many luxury touches and amenities. Units are available in studio, one-bedroom and penthouse suites (at $100,000 per week) and feature floor-to-ceiling windows, upscale furnishings and linens, flat-screen TVs and high-end entertainment systems. A Spa Chakra will be located at street level, and an Owners Lounge will feature f&b presentations throughout the day, an outdoor terrace and concierge services.

HLW International is the architect of the project, while Tishman is the contractor and Alexandra Chamalimaud & Associates is doing the interiors.