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322 West 57th Street

322 West 57th Street
New York, NY 10019
(212) 210-6712
Retail, Residential, Sales, Conversion, Leasing/Rental, Condo (Building), Multifamily
322 West 57th Street
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 Rose Associates
  • developer Rose Associates
  • owner entity RSP 57 PROPERTY LLC
  • dob permit issued 07/06/2007
  • tco issued 11/20/2007
  • DOB FILE Link
  • LIST/LAUNCH SALES 06/08/2007
  • floors 48
  • Year Built 1978
  • ag file plans 06/22/2005
  • AG FILE Link
  • residential units 845
  • commercial units 4
  • total units 849
  • square feet 941,351
  • block and lot 1-01047-7503
  • BIN 1025450

...The apartment at 322 West 57th Street; Lydia Hearst (credit: Twitter) From Luxury Listings NYC: Lydia Hearst-Shaw...

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...

322 West 57th Street ft
...322 West 57th Street in Midtown Private equity giant Fortress Investment Group sold 58 separate...

114 Closing se FINAL.indd
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...

...From left: 400 West 12th Street, 165 Charles Street and 322 West 57th Street A 532-square-foot pad at 205 West 76th Street that hit the...

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...

“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...

megaprojects (1)
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...

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...

$11M 760 Park Avenue unit
$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...

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...

256 Fifth Avenue
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...

...The Sheffield, the 582-unit building at 322 West 57th Street, is announcing a partnership with the David Burke Restaurant Group...

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,...

Stuart Saft
Greenberg Traurig has ended talks on a possible deal to rescue law firm Dewey & LeBoeuf as it faces a possible bankruptcy filing this coming...

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...

Rentboy copy
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...

...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...

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...

Rendering of City Point tower (credit: Brooklyn Paper)
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...

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....

Dave Bruno and Sheffield
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 Sheffield sales team (click image for slideshow)
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...

...She contrasted One57 to the Sheffield, down the street at 322 West 57th Street between Eighth and Ninth avenues, where her firm took over...

...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...
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  • Event Retail Leasing
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 1,680
  • Publication Date 02/01/2014
  • Event Date 12/23/2013
  • Party 1 Southcroft Company
  • Party 2 Starbucks
  • Party 2 Brokerage SCG Retail
  • Party 2 Broker David Firestein
The coffee chain signed a lease.
  • Event Sales
  • Building Name Sheffield57
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 20,000,000
The condo building sold at a foreclosure auction last month for $20 million. Fortress, a Manhattan-based hedge fund that previously acquired more than $100 million in defaulted loans at the building, made the lone bid at the auction, giving it total control over the Sheffield57 holding company. After buying the defaulted mortgage loan and senior mezzanine loan, Fortress advanced several million dollars to help pay off common charges and unpaid mechanic's liens that Swig had accumulated. Swig purchased the property for $418 million in 2005 with majority investors Yair Levy and Serge Hoyda.
  • Event Financing
  • Building Name Sheffield57
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Publication Date 12/01/2008
  • Event Date 10/22/2008
  • Party 1 Kent Swig
  • Party 2 KeyBank
A $104.7 million loan was provided to refinance the condo conversion. 58-story apartment building, 600 units total.
  • Event Sales
  • Building Name The Sheffield
  • Address 322 West 57th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 109,000
  • Price $ 95,000,000
  • Price per foot $ 871.56
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
Expected to go condo

Managing Agents
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