Central Park Place, any thoughts?

Hey everyone, I'm looking to buy a studio in the Columbus Circle area, and was close to signing a contract before my lawyer dug up some rather unsettling facts about the building. It was rather disheartening, particularly as I'd grown to love the place and was already thinking about the renovations I'd make. So the search is back on, and this time I'd like to get weigh in more opinions before I fall in love with another place. Is anyone familiar with 301 West 57th Street, Central Park Place? Good staff, happy neighbors, good facilities? How would it compare to say, the Sheffield down the street? Also, would anyone care to share with me why the current studio listed would not be a good buy (other than it being very small)? Much appreciated.