The
Sheffield
Rented in days. Listed for months.
Rented in days.
Listed for months.
Six sales closed at The Sheffield this quarter, double the spring — three one-bedrooms at $925,000 to $1,299,750 and three three-bedrooms at $2,775,000 to $3,100,000 — while 25 units stayed listed, eight of them studios that have cut and waited up to a year. Twenty-six leases signed, up from eleven, most inside a month and studios in about nine days. Across Midtown West the median fell 10% because the spring's trophy sales didn't repeat; the typical apartment held its price per foot.
By unit type, to sell and to rent
What each type actually cleared for in the building this quarter — closed sales and signed leases, not asking prices. Read the line that is yours.
Studio
One Bedroom
Two Bedroom
Three Bedroom
Four Bedroom
Ranges are the closed sales and signed leases at The Sheffield, July 1 – September 30 2026, by unit type. Rents are last asking rents. Days are days on market. Each figure is one of the transactions listed in the detail tables below.
Six closings
on a crowded board
Six sales closed, double the spring's three, and they split cleanly by size. Three one-bedrooms: #38P at $925,000 in 33 days, #24C at $1,200,000 in 100 days, and #22G at $1,299,750 in 74 days — $14,750 above its asking price. Three three-bedrooms in the S and U lines: #33U at $2,872,000 after 321 days on the market, then #33S at $2,775,000 and #55S1 at $3,100,000, both recorded in mid-September.
The median reads $2,037,375 against $1,750,000 in the spring — three three-bedrooms will do that; it is mix, not a repricing. Per foot, the one-bedrooms closed at $1,579 to $1,717 and the three-bedrooms at $1,735 to $1,939. The listing discount narrowed to 4.6% from 8.6%, sale-to-list rose to 94% from 91%, and the four closings with a marketing history averaged 132 days — 33 to 100 for the one-bedrooms, 321 for #33U.
The board is the number to know. Twenty-five units are listed for sale at quarter end and two are in contract. Eight are studios asking $850,000 to $960,000; seven of the eight have cut from their original price, and they have been listed 43 to 387 days. Seven one-bedrooms ask $1,150,000 to $1,900,000, six two-bedrooms $1,790,000 to $3,195,000, four three-bedrooms $3,350,000 to $4,680,000.
Across Midtown West, 205 sales closed, level with the spring, at a median down 10% to $1,360,000 and an average $1,625 a foot, also down 10% — the spring's trophy closings didn't repeat, and the typical apartment held its per-foot price. Days on market shortened to 102 from 123, and 661 active listings put the neighborhood at 9.7 months of supply.
So read it by what you own. A one-bedroom priced to the last three closings — $1,579 to $1,717 a foot — sold in one to three months this quarter, and one sold above ask. A studio faces eight neighbors on the board that have not found a price in months. A three-bedroom has three fresh comps at $2,775,000 to $3,100,000, every one of them closed under ask, by 3.5% to 8.8%.
Six closings show what clears here: one-bedrooms priced at $1,600 to $1,700 a foot, and three-bedrooms a few points under ask. What doesn't clear is on the board — 25 listings, eight of them studios that cut and are still waiting. If you're selling, price to the closings, not to the neighbors' asks; the neighbors are the competition.
Closed salesJul – Sep 2026 · 6
| Apt | Size | Sold | DOM | Date |
|---|---|---|---|---|
| 55S1 | 3 Bed | $3,100,000$1,939/SF | — | Sep 13 |
| 33S | 3 Bed | $2,775,000$1,735/SF | — | Sep 12 |
| 24C | 1 Bed | $1,200,000$1,579/SF | 100 | Aug 4 |
| 22G | 1 Bed | $1,299,750$1,717/SF | 74 | Aug 3 |
| 33U | 3 Bed | $2,872,000$1,796/SF | 321 | Jul 31 |
| 38P | 1 Bed | $925,000$1,595/SF | 33 | Jul 8 |
How these numbers are computed
Closed sales are recorded sales at The Sheffield with a closing date inside the quarter. The median is the middle sale price. Days on market run from the listing date to the contract date. The listing discount is the average gap between the last asking price and the sale price; sale-to-list is the sale price as a share of the original asking price. Price per square foot uses each unit's recorded square footage. Rents are the last asking rent of each signed lease.
Midtown West figures are the neighborhood's closed sales and signed leases in the quarter. Months of supply is the number of active listings divided by the quarter's closings per month. Average days on market and the listing discount leave out closings recorded with no market time. Nothing in this report is estimated.
Twenty-six leases,
every size
Twenty-six leases signed, up from eleven in the spring, across every size the building has: nine studios, seven one-bedrooms, six two-bedrooms, three three-bedrooms and a four-bedroom. Days on market averaged 24, down from 33, with nineteen of the twenty-six inside a month.
Studios leased at $4,300 to $4,800, up from the spring's $4,200 to $4,700, and fast — five to 35 days, nine days at the median. One-bedrooms ran $4,900 to $7,500 across seven leases, two-bedrooms $8,500 to $14,500, three-bedrooms $15,000 to $16,500. And #21T, a four-bedroom of 2,613 square feet, signed at $18,800 in 15 days.
The median rose to $6,600 from $6,395; the average slipped to $8,232 from $8,336 as more studios signed. The longest lease-up was #52D, a three-bedroom, at 113 days and a $1,500 cut to $15,000; its twin #54D took 23 days at the same rent.
Across Midtown West, 1,181 leases signed, up 2%, at a $5,084 median and 30 days, on 1.73 months of supply. The Sheffield's studios lease under that median and everything else above it — read your unit by its type.
Set the two boards side by side. Eight studios are listed for sale at $850,000 to $960,000 and have waited 43 to 387 days; nine studios leased this quarter at $4,300 to $4,800, in nine days at the median. At those numbers a studio rents for about 6% a year of what it asks — the rental side is the side that clears.
Twenty-six leases in a quarter, every type, most inside a month, studios in about nine days at $4,300 to $4,800. If a unit is empty, price it to its type and it will lease; the building's rental market is as liquid as its sales board is crowded.
Signed leasesJul – Sep 2026 · 26
| Apt | Size | Last asking | DOM | Leased |
|---|---|---|---|---|
| 55Q | Studio | $4,800 | 7 | Sep 21 |
| 53R | 1 Bed | $4,900 | 6 | Sep 14 |
| 37B | 1 Bed | $5,790 | 37 | Sep 1 |
| 33H | 2 Bed | $14,500 | 30 | Sep 1 |
| 30B | 2 Bed | $9,300 | 42 | Aug 26 |
| 26N | 1 Bed | $6,200 | 29 | Aug 23 |
| 35F | Studio | $4,650 | 5 | Aug 21 |
| 27K | Studio | $4,500 | 9 | Aug 20 |
| 40F | 2 Bed | $10,000 | 57 | Aug 19 |
| 54D | 3 Bed | $15,000 | 23 | Aug 19 |
| 52D | 3 Bed | $15,000 | 113 | Aug 19 |
| 27V | Studio | $4,600 | 5 | Aug 18 |
| 17K | Studio | $4,350 | 10 | Aug 16 |
| 29L | Studio | $4,500 | 35 | Aug 7 |
| 42V | Studio | $4,650 | 8 | Aug 6 |
| 36D | 2 Bed | $12,500 | 29 | Aug 5 |
| 45K | 2 Bed | $8,800 | 3 | Aug 4 |
| 39P | 1 Bed | $7,200 | 22 | Aug 3 |
| 51Q | 1 Bed | $7,000 | 25 | Jul 30 |
| 21T | 4 Bed | $18,800 | 15 | Jul 25 |
| 34Q | 1 Bed | $7,500 | 12 | Jul 20 |
| 17L | Studio | $4,300 | 31 | Jul 18 |
| 47V | Studio | $4,700 | 12 | Jul 13 |
| 28M | 1 Bed | $5,500 | 15 | Jul 6 |
| 37K | 2 Bed | $8,500 | 8 | Jul 2 |
| 42S | 3 Bed | $16,500 | 47 | Jul 1 |
Two ways to read
your unit
This quarter draws the line sharply. Twenty-six leases signed in an average of 24 days; twenty-five sale listings sat, eight of them studios that have cut and waited up to a year. Selling worked for the owners who priced to the closings — the one-bedrooms at $1,600 to $1,700 a foot, the three-bedrooms a few points under ask — and did not work for anyone priced to a neighbor's ask. If you hold, the rental side clears every size, at rents that rose for studios and held above; a studio that rents at $4,800 while it asks $900,000 is earning about 6% gross as it waits. If you sell, know that you are one of 25, and price like the six that closed.
Fewer trophies.
Steady beneath.
Two hundred five closings, level with the spring's 204 — and a median down 10% to $1,360,000, with the average price per foot down 10% to $1,625. Both numbers are about the top of the market, not the middle of it.
The spring carried nine closings above $10 million, seven of them priced above $5,000 a foot. The summer carried three, and two. Set the $5-million-and-up sales aside in both quarters and the average price per foot moved from $1,522 to $1,504; the typical apartment's price per foot — the median — held at $1,482 against $1,486. The market beneath the trophies did not reprice.
What moved is pace. Days on market fell to 102 from 123, three weeks faster. The listing discount held at 3.3% — sellers gave the same at the table as in the spring. The entry end supplied the volume: closings under $1 million rose to 73 from 67. Supply is deep — 661 units active and 101 in contract put the neighborhood at 9.7 months — a buyer's calendar, moving a little quicker than it did.
So read it by what you own. If you own a typical apartment, your comps held: per foot, the neighborhood's midpoint is where it was, and it sold three weeks faster. If you own at the very top, the spring's trophy closings set a bar the summer didn't test — fewer data points, not a lower price.
The headline drop is the absence of trophy sales, not a repricing: the median price per foot held, time to sell shortened, the discount didn't widen. Price to your building's comps, and expect patience — nearly ten months of supply is still a market where the buyer sets the pace.
More leases,
at higher rents.
Eleven hundred eighty-one units rented, up from 1,155 in the spring — a deep pool, and it firmed over the summer.
The median rose 3%, to $5,084 from $4,915. The average rose 5%, to $6,163 from $5,891 — the top end pulling a little harder than the middle. Days on market fell to 30 from 33.
Supply sits at 1.73 months, with 680 units active and 115 in contract. That is a market absorbing what comes to it in under two months, at rents that moved up.
So read it by what you own. If you're renting out, you have about a month to lease at a firmer number than the spring, and the larger, better-finished units are commanding the premium. If you've been weighing sell-versus-rent on a typical unit, the rental side did more for you this quarter than the sale side did.
More leases, higher rents, faster absorption — a landlord's quarter on every axis. Price to the market's new level, not the spring's.
Beyond
the numbers
Selected sales and leases from across Manhattan, and the approach behind them.
