Does Sheffield57 Have 57 Floors? And Did It Cost $418 or $545 Million?


Even though The Times made it painfully clear that Sheffield57 does not have 57 floors, the building’s developers are still sending around an old press release touting the building’s exaggerated height.

Then the release has this:

The purchase price of $545 million represented the largest sale of a single residential building in the United States to date.

The Times, on the other hand, opened its recent profile with a markedly less jaw-dropping figure: $418m.

What gives? Who is mistaken? Who is lying? We want answers.

Max Abelson

New York, N.Y. (September 25, 2006) – Steps from Central Park at Columbus Circle, Sheffield57 at 322 West 57th Street, is located at the nexus of culture, commerce, fine dining and luxury retailing in New York City. The 57-story residential tower is undergoing an extraordinary transformation into a world-class Manhattan condominium with a sophisticated array of personal services and superlative residential design unrivaled in New York City.

Some of the dramatic changes in the conversion from rental to condominium status include replacing the exterior stone of the entire first floor with Italian granite; re-development of the plaza into a magnificent landscaped garden featuring a sculpture by a world renowned artist; and the expansion and reconstruction of the lobby into a modernist glass jewel that features Italian granite and Travertine flooring combined with an elegant coffered sycamore wood ceiling.

In addition, major improvements to the property include all new electrical service; all new plumbing; new corridors and entry doors; new elevators and cabs; and a redeveloped two-floor residents’ club located on the 56th and 57th floors that features a private restaurant, screening room, children’s play area, and a dedicated resident’s lounge featuring morning breakfast and evening cocktails. Concierge and business services will also be available.

Located on the 57th floor, a full-service health club and spa features an open-air swimming pool, outdoor sun terrace, dedicated Pilates and yoga studio, dedicated weightlifting stations and dedicated area filled with state-of-the-art aerobic exercise machines, massage rooms, as well as his and hers spa facilities, lounges and locker rooms, and on-site personal trainers.

With its dramatic entrance – arrival via a private though-driveway – the Sheffield57 experience begins with the superb convenience of a rare amenity found only in a few of New York’s finest buildings – an entry drive-through connecting 57th Street to 56th Street that allows residents to be picked up or dropped off at the building’s entrance lobby, thus avoiding the risk and inconvenience of oncoming traffic. Vehicles proceed through the drive from 57th Street and exit onto 56th Street allowing direct access between the two streets. The sinuous flow of renowned architect’s Moed deArmas & Shannon’s private landscaped sculpture garden follows the drive from one end to the other offering residents a calm outdoor oasis for relaxation and easy socialization. A contemporary abstract sculpture by a noted artist graces the residential entrance reflecting the refined design aesthetic and modern configuration of a building re-done and re-created for the supreme urban sophisticate. At the building’s 57th Street entrance, a calming reflecting pool adds elegance to the property.

The modern, chic residences of Sheffield57 are designed to accommodate the urban professional, both single and/or as a couple, seeking the ultimate living experience in Manhattan. Whether it is a permanent residence, family home or weekend pied-a-terre, Sheffield57 is front and center in New York’s most prestigious and dynamic neighborhood, convenient for both business and pleasure.

Across the redeveloped and spacious lobby where concierge and 24-hour door staff attend to residents’ every need, newly designed and fully renovated elevators bring residents to their home – one of the many new condominium residences that have been recreated. Newly reconfigured floor plans and interiors designed by Cetra/Ruddy Architects create a stunning portfolio of new residential options for urban living, from generous studios of almost 600 square feet to one bedroom homes – many with separate home office – of over 1,100 square feet, as well as two bedroom, two and ½-bath apartments to spaciously sized three-bedroom, three bath residences boasting 1,700 square feet. A completely new infrastructure marries modern design and modern technology at Sheffield57 including Wi-Fi internet access available building-wide and elegant new windows which are planned for the building and will provide expanded views and interior comfort.

Design highlights of Sheffield57 residences include custom Italian doors from Tres Piu, the award winning company known for leadership in contemporary design. Kitchens have been carefully considered with premium level appliances fully integrated into elegant Italian Poliform Varenna cabinetry. Bosch dishwasher, Sub-Zero refrigerator and Bosch cooktop and oven all add to the quality finishes of the kitchen.

Custom-designed kitchen light fixtures and Calacatta marble countertops are standard as are solid plank Nordic Ash floors throughout the apartments. Beautifully crafted glass shelves with stainless steel sculptural supports float above the sleek countertop design offering a distinctive yet functional storage area.

Master baths feature an exquisitely honed Travertine floor, walls and vanity counters, with satin-finish etched glass cabinetry, and custom-designed Watermark fixtures. Second baths display beautiful Calacatta marble flooring and vanity counters, custom-designed Watermark fixtures, English Sycamore natural satin-finish cabinetry and glossy white hairline-joint tiling. Powder rooms feature Habitus Blanco Ceta Matte ceramic walls, custom-designed Watermark fixtures and elegant Calacatta marble vanity counter and flooring.

While most Sheffield57 residences enjoy the grandeur of dramatic city or Central Park views and cascades of light, every resident is privy to an exceptional complement of outstanding amenities: a portfolio of services found at few, if any, Manhattan addresses. The Sheffield57 lifestyle begins with complimentary interior design services provided for each resident to accommodate personal design styles and busy schedules with professional access to the finest New York design resources.

The Sheffield57 lifestyle continues with unparalleled personal services and resident amenities at Club 57, a veritable private haven in the sky. Located on the 56th and 57th floors, Club 57 overlooks New York with extraordinary 320-degree views.

The first floor of the duplex club features a private Dining Club helmed by a private chef available for social functions and entertainment or simply a quiet dinner. A separate Residents’ Lounge offers morning breakfast and evening cocktail service while the convenient Pet Spa located on one of the building’s lower floors attends to the needs of precious four-legged residents. A Children’s Recreation Area and private Screening Room round out the first floor Club 57 amenities.

One flight up, the 57th floor of Sheffield57 houses a world-class health club and spa featuring an indoor swimming pool that becomes “open air” during the warmer months and offers panoramic Manhattan views to the south, east and west. Generously proportioned outdoor sun terraces designed for sunning and relaxation float 58 stories above the bustling city streets.

Additional amenities found on the 57th floor include the Residents’ only Health Club featuring state-of-the art cardio equipment, weights, and a private yoga and Pilates studio. Each space in the Health Club enjoys extensive, well proportioned windows with superb Manhattan views. Rounding out the extraordinary amenities of Club 57 is an elegantly appointed, full-service Spa designed to pamper Sheffield57 residents with his and hers steam rooms, sauna, and massage facilities, as well as personal training available to all residents.

According to Swig Equities president, Kent M. Swig, “Sheffield57 is a residential retreat in the very heart of Manhattan offering a wealth of amenities and the unparalleled advantages of living at a premiere New York City location. Its newly conceived exterior, expanded public spaces and elegantly reconfigured residences are the foundations of an extraordinary, modern living experience.”

The superb benefits of Sheffield57 are completed with Platinum Glove Concierge services facilitating the option of cleaning and housekeeping, restaurant reservations, theatre tickets, car rentals, beauty appointments and expert business services. Underground, a 372-vehicle parking facility with access from both 56th and 57th Streets offers residents the ease and safety of private home living. A newly designed separate and dedicated delivery entrance provides additional convenience at Sheffield57 where all deliveries are made, thus restricting the lobby entrance to residents and their guests.

Sheffield57 is a joint venture between Swig Equities, LLC, YL Developers and S&H Equities Inc. with Swig Equities serving as the managing and developing partner as well as the exclusive sales and marketing agent for the property. The purchase price of $545 million represented the largest sale of a single residential building in the United States to date.

March 2007…

CETRA/RUDDY: Residences and Exterior Corridors
Cetra/Ruddy is an award-winning architecture and interior design firm at the forefront of innovative residential design. They have been designing unique residential buildings for New York’s most sophisticated developers and individuals for the past 25 years. Cetra/Ruddy’s sophisticated problem-solving capabilities are integral to the design of diverse project types that include residential, institutional/university, investment commercial, commercial interiors and the not-for-profit sector. Cetra/Ruddy also maintains a specialty in wildlife habitats

ARCHITECT: Exterior, Lobby, Plaza, Garden and Club 57
Moed de Armas & Shannon Architects represents a world-renowned firm whose practice and resources are dedicated to meeting current challenges and client objectives. The principal members have designed and completed numerous architectural and interior projects for major financial institutions, medical institutions and development companies. The firm’s work is based on a modern, creative and fresh design approach. The planning and design ideas are enhanced by a bold use of color, texture and materials responding to the user and the context. Moed de Armas & Shannon combine the confidence of experience with the vitality of a creative team.

Does Sheffield57 Have 57 Floors? And Did It Cost $418 or $545 Million?