Historic Manhattan Mansion Sells for $42 Million
Owners and neighbors near West 57th Street should expect the 1891 site to give way to a major tower.
Updated on Nov. 3, 2026 in Commercial
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The Soloviev Group filed a $42 million deed transfer for the Schieffelin-Bowne House at 35 West 57th Street, a Beaux Arts mansion dating to 1891, in Manhattan property records. The sale ties the historic site to a planned supertall condominium and hotel tower nearby.
Why it matters
For New Yorkers, the transfer signals that a century-old mansion on one of the city's most expensive blocks is likely to be replaced, changing the skyline and the mix of housing, hotel rooms, and retail near Central Park. The Department of Buildings has already approved demolition plans, so the sale may be the last step before the site is cleared.
The $42 million deed transfer covers the 1891 Schieffelin-Bowne House at 35 West 57th Street, while the planned 63-floor tower across the block would include 119 condominium units and a 158-room hotel. Nearby, an undisclosed office tenant agreed to pay $327.50 per square foot in April, a record rent for the area.
The players
Soloviev Group
A New York real estate developer behind the sale of the mansion and the planned West 57th Street tower.
Sedesco
A development partner taking part ownership in the planned supertall condominium and hotel building near 9 West 57th Street.
New York City Department of Buildings
The city agency that approved demolition plans for 35 West 57th Street.
The details
The Soloviev Group filed the deed transfer for the mansion, which was made public in property records on Monday. The building is being assembled into a larger mixed-use development site with Sedesco, which will take part ownership in the planned supertall condominium and hotel structure near 9 West 57th Street. The first two floors of the mansion were converted to retail in the 20th century, a change that may have weakened its standing before the Landmarks Preservation Commission. Demolition plans have already been approved by the New York City Department of Buildings.
Timeline
1891: The Beaux Arts mansion was built, and the Schieffelin couple lived there until 1899.
1899: The mansion was sold to Samuel W. Bowne.
1910: Bowne died in the home.
April 2026: Soloviev landed a record-rent office tenant nearby.
November 3, 2026: The $42 million deed transfer was made public.
The Home Front
Manhattan's Midtown office and mixed-use market is paying record rents, with the nearby $327.50 per square foot lease setting a new benchmark for the area. Historic mansions along West 57th Street now face the same development pressure that has reshaped the block's skyline for years.
If you live near West 57th Street, expect construction disruption once demolition and the tower's build begin, and check the city's Department of Buildings permit records for scheduled work. Homeowners and renters in the area should talk with a licensed real estate agent or attorney before making any decisions about buying, selling, or leasing nearby property.
The takeaway
Historic buildings in dense neighborhoods can be replaced quickly once a sale is recorded and demolition is approved, so the transfer date is a useful marker to track. Keep an eye on city permit filings for the site, since they reveal construction timing before the work starts.
Further reading
For more on the commercial side of Manhattan's rapidly changing skyline, explore Commercial real estate coverage for New York City.
Source note: This article includes information reported by Commercial Observer.
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