Sheffield57 closes $450m in sales in 2008

Sheffield57, a condo located at 322 West 57th St. at Columbus Cir., has completed nine new contracts of sale. The projected sellout is now estimated at $1.1 billion. Swig Equities is the developer of the property, along with YL Real Estate Developers and S&H Equities. Through 2008, Sheffield57 closed $450 million in sales, representing 59% of the total available residences for sale, almost all of which were below the 40th floor. Foreign buyers purchased just 19% of the residences with 81% of residences sold to domestic buyers, the majority from N.Y. or the tri-state region. Most of the available residences recently released for sale are above the 40th floor.