The Sheffield | The Real Deal New York

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The Sheffield

322 West 57th Street
New York, NY 10019
Sales, Leasing/Rental
The Sheffield
The Sheffield is a 58-story luxury condominium conversion at 322 West 57th Street in Manhattan. Floor plans and interiors in the conversion were designed by Cetra/Ruddy Architects. Among the buildings many amenities are a pet spa and a glass-enclosed rooftop pool. The Sheffield was built in the late 1970s as a rental by Rose Associates. In 2005 Kent Swig and partners bought it for $418 million. At the time, it was occupied by more than 800 market-rate and rent-stabilized tenants. Swig changed the name to Sheffield57 and began converting the building into luxury condos which provoked a number of law suits and conflicts with tenants. In one instance Swig was reported to have hired a marching band to interfere with a protest of the conversion staged by then residents of Sheffield57. In 2008, then business partner Yari Levy allegedly struck Swig on the shoulder with an ice bucket during a fight over the use of construction funds. Two years into post-conversion, Sheffield57 had only sold 40 percent of 597 apartments. Fortress Investment Group acquired the building in a 2009 foreclosure auction and the building once again became known as simply The Sheffield.
  • Address 322 West 57th Street
  • neighborhood Midtown
  • borough Manhattan
  • owner/developer Swig Equities
  • floors 58
  • Year Built 1978
  • file ag plans 09/04/2015
  • residential units 597
  • commercial units 4
  • square feet 941,351
  • block and lot 1-01047-7503
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201527274-2
03/09/16
From Luxury Listings NYC: Lydia Hearst-Shaw, the great-granddaughter of William Randolph Hearst and the daughter of Patty Hearst, has sold her condo at the Sheffield at 322...
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11/20/15
StreetEasy is making it easier than ever for New York City agents to become “experts” on all sorts of things. Despite broker backlash earlier this...
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10/23/15
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...
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07/21/14
From the July issue: Yair Levy is an investor and developer who rose to real estate prominence through several high-profile residential condo conversions during the...
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06/19/14
A 532-square-foot pad at 205 West 76th Street that hit the market for just over $1 million earlier this week may not have broken any records,...
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02/07/14
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...
08/22/13
“Numbers to know” is a weekly web feature that catalogues the most notable, quirky and surprising real estate statistics. Zillow’s stock dipped immediately following StreetEasy...
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04/04/13
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...
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01/29/13
Williamsburg’s the Edge sold 167 units with a median sale price of more than $800,000 in 2012, making it the best selling building in New...
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10/24/12
$11M 760 Park Avenue unit Beloved Grimaldi's Pizza will open in Kip's Bay in the old Totonno's space. Real estate investor's daughter buys $11M 760...
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08/30/12
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...
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08/30/12
256 Fifth AvenueLawyer-to-the-stars Mark Gregaros plans a three-story penthouse addition to 256 Fifth Avenue, which he bought for offices earlier this year. St. Regis Hotel...
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07/27/12
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...
05/15/12
From the May issue: The case of Anna Gristina, the mother of four who allegedly ran a brothel out of her Upper East Side walk-up,...
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04/29/12
Greenberg Traurig has ended talks on a possible deal to rescue law firm Dewey & LeBoeuf as it faces a possible bankruptcy filing this coming...
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04/13/12
From the April issue: Stuart Saft is a partner at law firm Dewey & LeBoeuf and chair of the firm’s global real estate department. One of...
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04/12/12
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...
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03/23/12
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...
03/23/12
The top Web stories from yesterday’s The Real Deal blog: 1. Extell faces foreclosure at Antiques Garage site 2. Developers unveil renderings for tallest tower...
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03/22/12
Rendering of City Point tower (credit: Brooklyn Paper)Washington Square Partners unveils the 65-story City Point tower planned for the former Albee Square Mall, which is...
03/09/12
The top Web stories from yesterday’s The Real Deal blog: 1. NYC real estate pros place among world’s wealthiest, but none match Mayor Bloomberg 2....
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03/08/12
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...
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01/18/12
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...
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10/27/11
Source: Extell Schedule A pricing data for One57 obtained by The Real DealSlated to be New York's tallest residential tower, Extell Development's 90-story One57 is...
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09/08/11
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...
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  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 109,000
  • Price $ 95,000,000
  • Publication Date 10/01/2007
  • Event Date 08/22/2007
  • Party 1 Kent Swig
  • Party 2 Hearst Corporation
  • Party 2 Brokerage CBRE
  • Party 2 Broker Darcy Stacom, William Shanahan
notes
Hearst purchased floors two through six and part of the seventh in the residential tower next door to its headquarters for $95 million. The publishing company also acquired the retail portion of the building and a parking garage.
  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 418,000,000
notes
Expected to go condo
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