Amenity reality will finally catch up to gauzy renderings at The Sheffield on West 57th Street, when the luxury residence opens its rooftop pool and sun deck after years of bitter disagreement with tenants. We are positive that there will not be a marching band on hand to celebrate the pool's grand opening. The pool atop The Sheffield was closed for years, and was emblematic of larger problems at the building that was built in 1979 and underwent a transformation from rental to condos after being purchased by Kent Swig and partners in 2005 for an at-the-time record $418 million. According to the WSJ, Swig set out to convert the 845 rental units to 580 more spacious luxury condos, and made quite a few enemies in the process. One point of contention was a proposal to get rid of the pool and turn it into an additional condo, and maybe add a restaurant. Swig's fortunes have since taken a downturn. Although he and his partners still have an economic interest in the building, it is under new management. And the swimmers prevailed. The Sheffield is getting its top floor pool back, redesigned and with additional lounge space.
According to the Journal, The Sheffield is now 78% sold—a major improvement from during the downturn, when less than 50% of the units were purchased. Dozens of the remaining units are occupied by renters, one of whom was recently accused of running a male escort service out of his apartment and is facing eviction.
· Time for a Swim at Sheffield, at Long Last [WSJ]
· The Sheffield coverage [CurbedNY]
· Kent Swig coverage [Curbed NY]
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