Re-Animator: Back-From-The-Brink Upper West Side Condo Sheffield57 Ready to Resume Apartment Sales?

Sheffield57 in the Upper West SideSheffield57 looked like the total package -- or at least like an Upper West Side condo development to watch -- for awhile back there. There was a prime location near Columbus Circle, at 322 West 57th Street and all the attendant goodnesses -- access to shopping, subway hub, Central Park, and so on -- that come with that. There was the condo itself, which delivered everything you'd expect from an Upper West Side luxury condo.But there was also the fact that Sheffield57 had very serious money problems. Sheffield57 halted condo sales in May of 2009, and the original developer wound up selling the property at auction. But Sheffield57 finally seems to have things squared away under new ownership, and The Real Deal reports that it may be ready to ramp up condo sales for the first time in nearly a year. But will those condos sell? Hopefully, you didn't come to this paragraph looking for a simple yes/no answer. The New Construction Manhattan blog doesn't know how well the re-animated Sheffield57 will do, but we do know that all of the things that made Sheffield57 an attractive new construction condo back in 2009 still make it an attractive condo today. Similarly, we know that the market for Upper West Side condos has actually remained pretty strong throughout the recent housing downturn. Those are generalities, of course, and the specific case of Sheffield57 is kind of hard to figure at present. But as long as it's at 322 West 57th Street, it has a fighting chance of becoming the success story it once looked likely to be. And we know, at the very least, that Sheffield57 isn't going anywhere. You know, geographically speaking.

NYC Daily Real Estate Blog