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Challenger Acquisitions

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Business

New York Wheel

Challenger has a $3million investment in New York Wheel Investor LLC, a company formed to fund the equity component for the New York Wheel Project. It is expected to become one of New York City’s great landmark attractions, alongside the Statue of Liberty and the Empire State Building. Located on eight acres on the northeastern side of Staten Island the 630-foot attraction will be one of the tallest observation wheels in the world.  More than three million tourists already ride the free Staten Island Ferry every year to get a closer view of the Statue of Liberty, who will be natural clients for the project.

Key facts:

  • The 630 foot high structure, with 36 capsules revolving constantly, each carrying 40 passengers, will offer views of New York Harbour, the Statue of Liberty and Lower Manhattan during the Wheel’s 38-minute rotation
  • Maximum capacity of 1,440 people per ride, approximately 30,000 visitors per day and 10.5 million visitors per year
  • The multi-purpose destination, features approximately 450,000 square feet of enclosed space and eight acres of outdoor space and will include retail, exhibition, parking and attractions enclosed under an expansive green roof space that provides both a visual highlight of the waterfront, and important community and tourist open spaces
  • A secondary attraction space will emphasise the history and visual beauty of New York and include a "5 borough" casual dining and bar, rooftop beer garden, high-tech shopping kiosks, and a 950+ covered parking garage
  • It will be powered by clean energy and its “green” design is expected to achieve Silver/Gold LEED certification.
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