The Real Deal New York

Posts Tagged ‘The Sheffield’

  • 322 West 57th Street

    322 West 57th Street in Midtown

    Private equity giant Fortress Investment Group sold 58 separate units at its Sheffield condo tower to RSP Companies for $25.25 million – more than the $20 million it spent to acquire the Midtown building at a foreclosure auction in 2009.

    Fortress closed on the sale of the units, at 322 West 57th Street in Midtown, to Columbus Circle-based RSP Companies on Aug. 20, according to property records filed with the city Friday. Of the 58 units, seven are designated for storage.

    Neither Fortress nor RSP could be reached for comment, but sources with knowledge of the transaction said the units in question are rent-stabilized holdovers from the Sheffield’s time as a rental building and that RSP could sell them as condos as they are vacated. [more]

  • Board at the Sheffield sues over oil spill

    February 07, 2014 09:50AM
    From left:

    From left: Sheffield condominium,  Amy and Adam Rose, co-presidents of Rose Associates and John Hess, president of Hess Corp.

    The board at the Sheffield condominium filed a $3 million negligence lawsuit against Rose Associates, Hess Corp. and several other contractors, in connection with a 2012 spill that dumped 8,000 gallons of petroleum on the grounds of the building. The Sheffield is located just blocks from Columbus Circle. [more]

  • From left: the Sheffield, the W Downtown and 99 John Deco Lofts

    From the April issue: A number of New York City developers put massive new condo projects on the market in the summer of 2008, expecting the high prices and speedy sales that had become the norm. But they were in for a nasty surprise. With the collapse of Lehman Brothers, the real estate boom ended in the blink of an eye. [more]

  • From left: L Haus, the Sheffield and One Hanson Place

    Wedding trends famously fluctuate as swiftly as the real estate market, but in New York City the two appear to have intersected. According to the New York Post, more New Yorkers are holding weddings in party spaces, courtyards and roof decks of their New York City apartments.

    While event planners say these weddings can be more difficult logistically, the Post focused on the savings. A couple that wed on the roof deck of the L Haus condominium building in which they live were required only to pay a $1,000 returnable deposit. The Sheffield‘s party space, though smaller, can be had for just $800 for six hours. [more]

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  • From left: David Burke and the Sheffield (credit: PropertyShark)

    The Sheffield, the 582-unit building at 322 West 57th Street, is announcing a partnership with the David Burke Restaurant Group, of Fishtail by David Burke and David Burke Townhouse fame, The Real Deal has learned.

    For Sheffield residents, prerogatives come in a personalized VIP card whose benefits package includes priority reservations at David Burke eateries, additional complimentary aperitifs and dishes, a 10 percent discount off food and alcohol, even personal greetings from the restaurants’ executive chefs on duty. [more]

  • "Dave Bruno" (credit: and the Sheffield

    Residents of the Sheffield may not have seen the last of Stephan Greving, the admitted prostitute who allegedly hosted clients at his luxury sublet and was caught in a police sting operation.

    He and the condominium board recently settled an eviction suit, as previously reported, but The Real Deal has learned that the deal gives Greving another month to vacate the apartment, when his lease ends, while the unit owners, an Italian couple named Bruno Cova and Bettina Beck, must pay the board $10,000 in legal fees and in exchange for settling the claims. [more]

  • From left: "Dave Bruno" on and the Sheffield

    An alleged male prostitute has been evicted from his residence in a settlement reached yesterday between the Sheffield condominium board and the owners of the unit, Habitat reported.

    Since May 2011 Stephan Greving, an alleged male prostitute called “Dave Bruno,” has been renting a 33rd floor apartment at the Midtown building, at 322 West 57th Street, from an Italian couple who purchased it back in 2008 for over $1.3 million, as The Real Deal first reported. [more]

  • Prostitution at the Sheffield?

    March 08, 2012 02:30PM

    From left: the Sheffield, escort "Dave Bruno" and Bruno Cova, co-chair of Paul Hastings in Milan

    The Sheffield condominium board has gone to court to force the eviction of an alleged male escort who serviced clients from his rental unit at the luxury Midtown West condo tower.

    Stephan Greving, who pleaded guilty to one prostitution-related count this past October, was renting the apartment from an Italian couple, who purchased the 33rd floor unit in 2008. [more]

  • The Real Deal on the town: PHOTOS

    January 18, 2012 02:30PM

    The Sheffield sales team (click image for slide show)

    January is barely half over and already those New Year’s resolutions seem like a distant memory. But for the marketing team behind the Sheffield condominium tower, an event last night was a chance to combine self-betterment (or at least self-indulgence) with a tour of newly opened amenity spaces (click the image above or here for the slide show).

    Brokers trickled into the “New Year New You” gathering, which took place in a three-bedroom pad on the 56th floor, which is priced at a sliver under $4.7 million, for organic juices, chair massages and a chance to win a gourmet meal. [more]

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    A penthouse unit in the Sheffield and Marketing Directors President Jacqueline Urgo

    Three weeks ago, the Marketing Directors unveiled the 10 penthouses on the 56th and 57th floors of the Sheffield, and The Real Deal got a sneak peek at the units and their impressive views — just as the overcast weather cleared — today (see photos above). Asking prices for the two- and three-bedroom penthouses at the condominium conversion at 322 West 57th Street range from $2.55 million to $5.25 million for a unit overlooking Central Park, and apparently buyers won’t have much room for negotiation.

    “We’re hardly open to any negotiations on those units — being that they are the crown jewels of the building,” Jacqueline Urgo, president of the Marketing Directors, said. “We’re going to hold out for the best prices.”

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    From left: Yair Levy, Rector Square (source: PropertyShark) and Attorney General Eric Schneiderman

    A state Supreme Court judge has ordered developer Yair Levy to pay $7.4 million in restitution to the Rector Square condominium and permanently banned him from selling real estate in New York state.

    Judge Joan Lobis found last month that Levy defrauded the Battery Park City condo conversion, spending millions of dollars in reserve fund money on illegal personal and general business expenses, including charge card accounts, mobile phone bills and writing checks to family members.

    The judgment permanently bans Levy from selling condos or co-op projects in New York state, virtually ending a career lasting more than 30 years in the U.S. … [more]

  • Sheffield buyers become Saks VIPs

    January 06, 2011 04:25PM
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    The Sheffield

    Newly relaunched condo conversion the Sheffield, which is revamping its image after several years of bad PR during Kent Swig’s tenure, has announced a partnership with Saks Fifth Avenue that confers privileges on the building’s residents.

    According to the Marketing Directors, the building’s exclusive sales agent, Sheffield owners now have access to special events at the department store, including a “match-making event” at the end of February in which residents will be paired with their own “personal styling consultant.” TRD[more]


  • Kent Swig

    Employees at Kent Swig’s real estate investment firm Swig Equities and commercial brokerage Helmsley Spears are reportedly feeling jittery and even looking for other jobs as their boss’ debt woes threaten to encroach on their own financial wellbeing. Swig has missed his staff’s payroll multiple times this year, one source told the Observer. While he has always made up the difference within a few days, staffers have hardly been encouraged by the incidents. Swig has also been served with an eviction notice on the two floors at 770 Lexington Avenue he leases from jeans retailer Diesel for the offices of Swig Equities and Helmsley Spears. And after this year’s auction of his failed condo conversion project at the Sheffield on 57th Street, Swig’s 140 Williams Street, which he bought for $24 million has been put into special servicing by lender Capital One. “I’m meeting with all his creditors and trying to come up with a global restructuring,” said Y. David Scharf, Swig’s attorney. Scharf said he hopes Swig “can live to fight another day, like many real estate developers have in the past and will in the future.” [NYO][more]