At the epicenter of Manhattan, this majestic apartment residence was transformed into a world-class luxury condominium.
The Sheffield, a 58-story, 820-unit tower at 322 West 57th Street near Columbus Circle and Central Park, was expanded and reimagined into Sheffield 57, a contemporary luxury condominium offering socially-centered amenities for enhanced quality of life.
SBI Consultants was retained by the Fortress Investment Group to provide leadership, technical and advisory solutions during the due diligence phase prior to acquisition to advise on the potential cost, contracting method and schedule risk areas of renovation project. The ambitious creation of Sheffield 57 involved converting the original 820 apartments into 582 expansive, modern luxury condominiums and building the Sky Club, a superlative two-level space that offers a state-of-the-art fitness center, spa facilities, a glass-enclosed rooftop pool and outdoor sundecks.
In collaboration with the project team, SBI provided cost estimation, scheduling, due diligence and project oversight that included an evaluation of the current condition and expected useful life of the Sheffield and the estimated the costs and risks involved in a top-to-bottom renovation. During the construction phase, SBI engineers provided consistent and reliable technical and management expertise, anticipated problems and furnished ongoing guidance to ensure that Sheffield 57 was completed within budget and on schedule.
SBI’s solutions enabled Fortress to make informed financial decisions, identify and mitigate risk, and create value in its asset purchase. The successfully completed Sheffield 57 remains one of the most desirable luxury residences in midtown Manhattan.