The Sheffield at 322 West 57th Street, which is one of the city's largest apartment buildings with about 845 units, is being converted from rentals to condominium apartments.
Erected in 1978 by Rose Associates, the 50-story, brown-brick building is directly to the west of the Hearst Building, a new skyscraper designed by Sir Norman Foster with criss-cross stainless-steel bracing and jagged corners. Although the Hearst Tower is very large, it will partially block views of less than 5 percent of the apartments in the Sheffield, which was designed by Emery Roth & Sons.
The Sheffield is just to the east of the handsome Park Vendome mid-rise apartment complex that has a large garden courtyard between 57th and 56th Streets.
In recent years, this area has improved substantially with the conversion of the Hudson Hotel to the west and the construction of the Time-Warner Center one block to the north.
The building was recently sold by Rose Associates to Swig Burris Equities, YL Real Estate Developers and S & H Equities for $418 million, the winning bid in a second round of bidding in the transaction that was brokered by Darcy Stacom of CB Richard Ellis. There were 15 bidders in the first round and 5 bidders in the second.
The tower has about 109,000 square feet of office space, a through-block driveway, a plaza, a double-height lobby, a health club, a 345-car gararge, and a rooftop paddle-tennis court.
Details of the conversion plan are not yet available.
Erected in 1978 by Rose Associates, the 50-story, brown-brick building is directly to the west of the Hearst Building, a new skyscraper designed by Sir Norman Foster with criss-cross stainless-steel bracing and jagged corners. Although the Hearst Tower is very large, it will partially block views of less than 5 percent of the apartments in the Sheffield, which was designed by Emery Roth & Sons.
The Sheffield is just to the east of the handsome Park Vendome mid-rise apartment complex that has a large garden courtyard between 57th and 56th Streets.
In recent years, this area has improved substantially with the conversion of the Hudson Hotel to the west and the construction of the Time-Warner Center one block to the north.
The building was recently sold by Rose Associates to Swig Burris Equities, YL Real Estate Developers and S & H Equities for $418 million, the winning bid in a second round of bidding in the transaction that was brokered by Darcy Stacom of CB Richard Ellis. There were 15 bidders in the first round and 5 bidders in the second.
The tower has about 109,000 square feet of office space, a through-block driveway, a plaza, a double-height lobby, a health club, a 345-car gararge, and a rooftop paddle-tennis court.
Details of the conversion plan are not yet available.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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