Soloviev Group Buys Historic 57th Street Mansion

The $42 million deed transfer of the 1891 Schieffelin-Bowne House clears the way for a planned supertall development.

Updated on Nov. 3, 2026 in Commercial

Bold flat-color editorial illustration of a weathered stone cornice set against a tall slate glass tower, evoking historic preservation giving way to new Midtown development. — Soloviev Group bought the 1891 Schieffelin-Bowne House at 35 West 57th Street for $42 million, clearing the site for a planned 63-floor mixed-use tower. AI Illustration. Upload story photo >

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Soloviev Group filed a deed transfer for the Schieffelin-Bowne House at 35 West 57th Street for $42 million, with the transfer made public in property records on Monday. The Beaux Arts mansion, built in 1891, is part of an assemblage for a mixed-use development that Sedesco will partly own.

Why it matters

The sale may be the final step before the mansion is razed, reflecting how New York City's demand for high-rise development on Midtown sites can outweigh preservation efforts. Local preservation groups had tried for several years to save the building.

The Soloviev Group filed the deed transfer for $42 million, against a nearby record office rent of $327.50 per square foot set in April. The filing does not specify the timeline for demolition or construction.

The players

Soloviev Group

Soloviev Group is a New York City real estate developer that has been assembling sites for a supertall mixed-use project on West 57th Street.

Sedesco

Sedesco is a real estate firm that will take part ownership in the planned supertall condominium and hotel building near 9 West 57th Street.

The details

The mansion is part of an assemblage for a planned mixed-use building of 119 condominium units, a 158-room hotel and a 10,212-square-foot restaurant across 63 floors. The first two floors were converted to retail in the 20th century, and the New York City Department of Buildings has approved demolition plans for the site.

1891: The Beaux Arts mansion is built, and the Schieffelin couple lives there until 1899.
1899: The mansion is sold to Samuel W. Bowne.
April 2026: Soloviev lands a record-rent office tenant nearby.
November 3, 2026: The $42 million deed transfer is made public in property records.

Market Landscape

The sale extends the West 57th Street supertall condominium boom, in which developers have assembled sites to build towers that replace older buildings in Midtown Manhattan. It fits a pattern of record-rent office leasing near the same corridor.

For New Yorkers, the sale signals that the Schieffelin-Bowne House may be demolished, changing the streetscape along West 57th Street. Residents and visitors should expect construction activity once the planned tower begins.

The takeaway

Historic buildings in Midtown can be replaced quickly when assembled into large development sites, so preservation depends heavily on the property's landmark status. Readers following Manhattan real estate should watch how records of deed transfers and building permits signal coming construction.