322 West 57th Street | The Real Deal New York

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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

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
  • architect CETRA RUDDY INCORPORATED
  • PLANS DISCLOSED 11/06/2006
  • dob permit issued 07/06/2007
  • tco issued 11/20/2007
  • DOB FILE PLANS 11/06/2006
  • DOB FILE Link
  • LIST/LAUNCH SALES 06/22/2006
  • height in feet 460
  • floors 48
  • AG Initial Price $ 888,098,870
  • ag file plans 06/22/2005
  • AG FILE Link
  • residential units 583
  • commercial units 4
  • const. status Condo Complete
  • block and lot 1-01047-7503
  • BIN 1025450
Condominium Units+

03/09/16
...The apartment at 322 West 57th Street; Lydia Hearst (credit: Twitter) From Luxury Listings NYC: Lydia Hearst-Shaw, the great-granddaughter of William...

11/20/15
...designated a Building Expert at the Sheffield at 322 West 57th Street, said the advertising program helped generate traffic to her listings. “It just helped to...

10/23/15
...322 West 57th Street in Midtown Private equity giant Fortress Investment Group sold 58 separate units at its Sheffield...

06/19/14
...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 market for just over...

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...

04/29/12
...in Battery Park City and the Sheffield at 322 West 57th Street near Columbus Circle. A group of law partners handed over documents to Manhattan D...

04/12/12
...to evict him from the 582-unit building, at 322 West 57th Street between Eighth and Ninth avenues. Greving was arrested at the Sheffield in October after...

03/23/12
...rd 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...

03/08/12
...to bring clients to the 582-unit building, at 322 West 57th Street between Eighth and Ninth avenues. The unit owners — Bruno Cova, co-chair of the Milan...

01/18/12
...win a gourmet meal. The 582-unit building, at 322 West 57th Street between Eighth and Ninth avenues that was developed by and is managed by Rose...

10/27/11
...One57 to the Sheffield, down the street at 322 West 57th Street between Eighth and Ninth avenues, where her firm took over marketing in March of...

09/08/11
...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...

06/29/11
...the Sheffield, a massive luxury condo conversion at 322 West 57th Street, which was eventually foreclosed on by Fortress Investment Group, which bought the debt from...

11/18/10
...the Wall Street Journal. When the Sheffield, at 322 West 57th Street, was reopening earlier this year after a conversion, the owners had nearly 330 units to...

09/15/10
...protected them from eviction from that property, at 322 West 57th Street, near Columbus Circle. Sheffield tenants reached an agreement with the state attorney general who...

09/13/10
...including the conversion of the Sheffield condominium at 322 West 57th Street. "This is a unique situation only related to one staff member, which represents previous...

08/12/10
...cut out for it. The Sheffield, located at 322 West 57th Street between Eighth and Ninth avenues, was built in the late 1970s as a rental...

05/18/10
...Street Journal. The 57-story former rental tower at 322 West 57th Street, purchased for a record $418 million in 2005 by a group of investors led by embattled...

01/28/10
...time since May 2009. Sales at the tower at 322 West 57th Street have languished for months, after former developer Kent Swig defaulted on millions of dollars...

10/05/09
...conversion of his former condominium project Sheffield57, at 322 West 57th Street. Swig is fighting to have his salary released from Terra Holdings, the brokerage firm...

09/29/09
...in court at the condominium conversion Sheffield57 at 322 West 57th Street. Square Mile and the ownership entities of both Isabell buildings are currently in negotiations...

09/21/09
...investments at Sheffield57, the luxury condominium conversion at 322 West 57th Street, after Fortress Investment Group foreclosed on a series of defaulted mezzanine and mortgage loans...

09/01/09
...the auction, giving it total control over the 322 West 57th Street holding company. Out of the few dozen attendees, there were only two other registered...

08/28/09
...the development of Sheffield57, a converted condominium at 322 West 57th Street.Swig, in court records filed late last week, argues against the judgment, stating that...

08/18/09
...the condo conversion of the 50-story building at 322 West 57th Street. The property was purchased in 2005 for $418 million by a partnership of Kent Swig, Yair...
  • 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
notes
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
notes
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
notes
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
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

...at the Sheffield, a nearly 600-unit condo at 322 West 57th Street previously managed by Rose. Peters said a short-term stay was the plan the whole...

According to brokers and price-watchers, fallout from the subprime ...
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