ISSUE NO. 08 · 2026
SHEFFIELD322 West 57th
Building Rental Activity
Midtown West Sales Report
Midtown West Rental Report
Twenty-one units are on the market at the Sheffield, and the building closed a sale in July: a one-bedroom, #38P, at $925,000 — thirty-three days from listing to contract after a $50,000 adjustment. Three more are in contract now: two one-bedrooms at $1,285,000 and $1,295,000, and a three-bedroom at $4,599,000 that found its buyer in under two months.
Five of the twenty-one actives arrived within the last month, from a $1.4 million one-bedroom to a $3.495 million two-bedroom — fresh inventory at both ends of the building. The median ask across the board is $1.75 million, and the average listing has been up four months.
The by-type story is the one to watch. All six studios, asking $850,000 to $960,000, have taken a price cut. The four two-bedrooms, asking $2.05 million to $3.495 million, haven't cut a dollar — half of them are new this month. Ten of the twenty-one listings overall have reduced, and the pattern is clear: the entry price points are competing hardest while the larger homes hold their line.
Bottom line — The building is transacting — a July closing, three contracts, five fresh listings. If you own a studio here, pricing sharp on day one beats adjusting later; every studio on the board has already had to. If you own a larger home, the two-bedroom shelf is thin, firm, and moving.
Twelve units are listed for rent and eight are already in contract — a 40% lease-up rate on the current pipeline. The active board medians $5,995 and averages three weeks on market, with only three of the twelve having adjusted price.
The spread covers the whole building: five studios from $4,500 to $4,800, two one-bedrooms at $5,790 and $6,200, three two-bedrooms from $9,300 to $12,500, and a three-bedroom at $16,000. And July's signed leases show the demand is real — five Sheffield units rented this month, from $4,500 on the studio line to $16,500 for a unit on the building's three-bedroom tier.
Bottom line — Nearly half the rental pipeline here is already spoken for, and leases signed across every price tier in July. If your unit is coming vacant, this is a market that answers quickly at the right number.
| Apt | Size | SF | Price | Reduction |
|---|---|---|---|---|
| 22G IN CONTRACT |
1 Bed | 757 | $1,285,000 $1,697/SF |
|
| 24C IN CONTRACT |
1 Bed | 760 | $1,295,000 $1,703/SF |
|
| 42H3 IN CONTRACT |
3 Bed | 2,184 | $4,599,000 $2,105/SF |
|
| 49Q | Studio | 608 | $850,000 $1,398/SF |
$85,000 (−9.1%) |
| 29D | Studio | 583 | $870,000 $1,492/SF |
$55,000 (−5.9%) |
| 23E | Studio | 600 | $899,000 $1,498/SF |
$51,000 (−5.4%) |
| 38Q | Studio | 608 | $927,500 $1,525/SF |
$27,500 (−2.9%) |
| 30P | Studio | 569 | $950,000 $1,669/SF |
$45,000 (−4.5%) |
| 39U | Studio | 585 | $960,000 $1,641/SF |
$135,000 (−12.3%) |
| 20B | 1 Bed | 764 | $1,150,000 $1,505/SF |
$200,000 (−14.8%) |
| 37H | 1 Bed | 757 | $1,400,000 $1,849/SF |
|
| 32Q | 1 Bed | 875 | $1,450,000 $1,657/SF |
|
| 37Q | 1 Bed | 875 | $1,480,000 $1,691/SF |
|
| 33C | 1 Bed | 760 | $1,750,000 $2,302/SF |
|
| 37P2 | 1 Bed | 1,112 | $1,859,000 $1,672/SF |
$141,000 (−7.0%) |
| 50H | 1 Bed | 757 | $1,860,000 $2,457/SF |
$75,000 (−3.9%) |
| 22S | 2 Bed | 1,014 | $2,050,000 $2,021/SF |
|
| 26S | 2 Bed | 1,014 | $2,150,000 $2,120/SF |
|
| 51D | 2 Bed | 1,434 | $2,795,000 $1,949/SF |
|
| 33S | 3 Bed | 1,599 | $2,875,000 $1,797/SF |
$125,000 (−4.2%) |
| 50S | 3 Bed | 1,599 | $3,350,000 $2,095/SF |
|
| 55S1 | 3 Bed | 1,599 | $3,400,000 $2,126/SF |
|
| 33H | 2 Bed | 1,647 | $3,495,000 $2,122/SF |
|
| 44K2 | 3 Bed | 1,963 | $4,195,000 $2,137/SF |
| Apt | Size | SF | Rent | Reduction |
|---|---|---|---|---|
| 17K IN CONTRACT |
Studio | 624 | $4,350 |
|
| 42V IN CONTRACT |
Studio | 615 | $4,650 |
|
| 51Q IN CONTRACT |
1 Bed | 875 | $7,000 |
|
| 39P IN CONTRACT |
1 Bed | 1,179 | $7,200 |
|
| 45K IN CONTRACT |
2 Bed | 1,196 | $8,800 |
|
| 35U1 IN CONTRACT |
3 Bed | 1,599 | $12,500 |
|
| 54D IN CONTRACT |
3 Bed | 1,450 | $15,000 |
|
| 52D IN CONTRACT |
3 Bed | 1,450 | $15,000 |
$1,500 (−9.1%) |
| 29L | Studio | 566 | $4,500 |
|
| 35F | Studio | 572 | $4,650 |
| 46J | Studio | 571 | $4,700 |
|
| 35V | Studio | 615 | $4,700 |
$100 (−2.1%) |
| 41E | Studio | 661 | $4,800 |
|
| 37B | 1 Bed | 1,434 | $5,790 |
$710 (−10.9%) |
| 26N | 1 Bed | 818 | $6,200 |
|
| 48P | N/A | 1,179 | $8,900 |
|
| 30B | 2 Bed | 1,342 | $9,300 |
|
| 40F | 2 Bed | 1,228 | $10,000 |
|
| 36D | 2 Bed | 1,350 | $12,500 |
|
| 46H2 | 3 Bed | 1,588 | $16,000 |
Twenty-seven homes closed in Midtown West over the past month, at a median of $995,000 and $1,334 per square foot, ranging from a $587,777 studio to a $4.9 million penthouse. Sellers who closed gave up just 3.3% off their last ask.
The other side of the ledger is inventory: 399 homes are actively listed against 69 in contract — nearly fifteen months of supply at July's closing pace. This is a market with a deep shelf and patient buyers; among resales that closed, the average wait was four months.
Put those two numbers together and the picture is precise: getting a deal done takes time here, but the deals that close are closing tight to ask. The discount is thin because the sellers who succeed are the ones priced to the moment — the rest simply wait.
Bottom line — Midtown West rewards precision. In a fifteen-month-supply market, an accurately priced home still closes within 3% of ask — but an ambitious one joins a very long line. Pricing strategy isn't part of the plan here; it is the plan.
Two hundred twenty-one units rented in Midtown West in thirty days, with ninety-nine more in contract. The median lease signed at $4,938, the average at $5,469, and the range ran from $2,850 at the entry to $16,500 at the top — a ceiling set, as it happens, by a unit at the Sheffield.
The tempo is fast: 24 days on market on average, and against 528 active listings the closing pace works out to under two and a half months of supply. Where the sales market asks patience, the rental market clears.
Bottom line — Deep demand, three-week absorption, and a contract pipeline a hundred deep — Midtown West rentals are the liquid side of this market. Price to type and the market does the rest, at every tier from studio to penthouse.
New York, NY 10003