Sheffield57 Sold at Foreclosure Auction

The Real Deal reports that Sheffield57 has been sold at a foreclosure auction to a Manhattan-based hedge fund for just $20M.

This formerly rental building was bought for a record $418 million in 2005 by a consortium led by Swig Equities and subsequently converted into a condominium.

The condo owners expect the new owner to finish construction and resume sales.

Source

• Fortress buys Sheffield57 at auction for M (The Real Deal)

Related Buildings

• Sheffield 57

Related Property Managers

• Swig Equities