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Sheffield57 Sales Could Relaunch Under New Offering Plan

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Sheffield57 is back! Sort of. That's right?five months after the buyers' attorney and building owner Fortress Investment Group first met to discuss the relaunch of the building's construction and sales, that relaunch might be approaching. (Sales shut down in May of last year after former developer Kent Swig failed to update the condo offering plan.) The Real Deal reports that the state Attorney General's office has given the thumbs-up to a revised offering plan, which could allow sales to go forward. And where are sales right now? About half of the building's 497 condos remain unsold. But buyer beware: Fortress is raising common charges at the building by 11.9 percent to make up for shortfalls under Swig's ownership. Call it the Bucket Tax?
· Sheffield57 sales may resume [Real Deal]
· Sheffield57 coverage [Curbed]