| Posted: | 12/Aug/2009 11:20:00 |
| Author: | S.T.E. |
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.