Jimmy Breslin buys in Sheffield 57
December 15, 2008 01:31PM By Adam Pincus
Jimmy Breslin
Legendary New York journalist Jimmy Breslin and his wife, former City Council member Ronnie Eldridge, paid $1.65 million for an apartment in the troubled Kent Swig condominium conversion Sheffield 57, south of Columbus Circle.
The purchase at the 58-story tower at 322 West 57th Street, between Eighth and Ninth avenues, closed on December 8, according to property records published Friday.
In October, The Real Deal reported that contractors had filed liens totaling $2.77 million against the building, and in November, the developer said he had refinanced his loan on the project, which had been placed on a watch list, according to an August report by Standard & Poor's.
Eldridge acknowledged the building's problems, but said she looked forward to moving into their condo sometime before January 1. "I am sure the building in the long run will be a nice place to live... We are waiting for the health club and the swimming pool," she said, and added, "The apartment is lovely and the location is grand."
On October 3, the couple sold its 1,745-square-foot penthouse condo apartment at 2000 Broadway, at West 68th Street, for $3.3 million, which they had purchased in 1993.
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Comments
Anonymous
Can people stop calling this building "troubled"? They've sold more units than any other condo in New York City and at very high prices... seriously - check out StreetEasy. And the band of holdover tenants who created all of these "rumors" are now packing their bags with eviction notices. I love bashing developers as much as anyone else, but to call the building who has sold the MOST units of any building in Manhattan "TROUBLED" is a little ridiculous.
Comment #1 Posted By: Anonymous 12/15/08
Anonymous
I love the Sheffield and I like that people thing there is a problem with it, because a few tenants had problems with the conversion. These are everyday things that happen with all new developments: community boards, neighbors, shortage of funds. The fact is that it is the largest residential conversion in the U.S. and at the end of the day, its a fruitful one for its investors.
Comment #2 Posted By: Anonymous 12/15/08
Anonymous
Thanks Kent and his mom for the past 2 posts.
Comment #3 Posted By: Anonymous 12/15/08
Anonymous
The New York Times had an article this Sunday about how the Platinum Condominium signed 3 contracts in November and this was seen as a good month considering the state of the market. Well I know from inside sources that the Sheffield signed SEVEN new contracts that same month! Inept PR department maybe, but troubled??? The Sheffield hating has got to stop. To call this building "troubled" is absurd. Seriously. The Real Deal needs to move on to their next scapegoat already.
Comment #4 Posted By: Anonymous 12/15/08
Anonymous
and the band played on. figurativeley speaking of course.
Comment #5 Posted By: Anonymous 12/15/08
Anonymous
What? Old people are buying at The Sheffeld? Hmmm, I love getting on elevators with cranky old people and their poodles. I better run over there with my deposit check before I am priced out of the market.
Comment #6 Posted By: Anonymous 12/15/08
Anonymous
#1 - spin it any way you want - they still have hundreds of unsold units. #4 - 7 contracts in a good month (before the crash) - so let's say they sell 50 units a year going forward - 7 or 8 more years and they'll be there. If people want to buy in a crappy converted rental building why not buy at 30 Lincoln. Same area, but closer to the park. The units are cheaper too. 30 Lincoln is going to have a big negative effect on the pricing at The Sheffield.
Comment #7 Posted By: Anonymous 12/15/08
Anonymous
Sheffield goes bancrupt in 09. So do most of the other condo projects in the city.
Comment #8 Posted By: Anonymous 12/15/08
Anonymous
When is the Sheffield going to finish whatever they are doing to the building and clean up the sidewalks on 56th and 57th that are in front and behind it? The 57th St. side has had a very stinky smell on sidewalk (just outside of Starbucks).
Comment #9 Posted By: Anonymous 12/16/08
Anonymous
when will the driveway not go threw the lobby?
Comment #10 Posted By: Anonymous 12/16/08
Anonymous
Sheffield57 Lobby was approved by City Planning last week, so it looks like the driveway is a go. Not sure why the tenants were fighting such a dramatic improvement, anyway... #4 is dead-on. 30 Lincoln is really crappy, does not compare to Sheffield57 which has better location, finishes, amenities, etc. Plus Sheffield construction is just about finished (or soon will be), wouldn't want to move into a project just getting started right now - might never be built. Sheffield is a sure-thing (you know what you are buying).
Comment #11 Posted By: Anonymous 12/16/08
Anonymous
The 7 contracts were AFTER the crash, which is a pretty impressive number for any developer in this market.
Comment #12 Posted By: Anonymous 12/16/08
Anonymous
unfortunately, i don't believe either party that the number of units really sold. This is hype, and certainly not true. Marketing directors and condo developers need positive news as opposed to the truth
Comment #13 Posted By: Anonymous 12/16/08
Anonymous
#13. you could use ACRIS to look up the actual number of closed sales (with a lag of a couple of weeks)
Comment #14 Posted By: Anonymous 12/22/08
Anonymous
People do not like the proposed driveway scheme because it is dangerous. As a matter of fact the entire community is opposed to it for various reasons. That does not seem to matter though, as developers are in the drivers seat. I hope no one gets hurt, everyone should get alot of liability insurance, just in case.
Comment #15 Posted By: Anonymous 12/22/08
Anonymous
Uh, City Planning and the Community Board are both in favor of the driveway. It is much safer than what it replaced - sounds like a prickly tenant looking for a buyout.
Comment #16 Posted By: Anonymous 01/05/09
Anonymous
Have bought and lived in the Sheffield57 for one year LOVE IT. Thanks for all the entertainment the disgruntled tenants provide on these blogs. LOSERS
Comment #17 Posted By: Anonymous 03/01/09