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Sheffield pricing may signal end of insider deal

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The Sheffield, the 50-story rental near Central Park, is being converted to luxury condos. But many tenants inside the building are not getting the deals they expected: The average asking price inside the Sheffield, which was bought for a reported $418 million, will be $1,358 a square foot, according to the building’s new owner, Swig Equities. Some are saying this signals the end of the insider deal in Manhattan real estate. more [NYT]