123 Washington Street (W Downtown Hotel & Residences)
123 Washington Street, New York, NY 10006
Financial District
BBL 1000537502 · BIN 1088442
- Type
- Condominium
- Units
- 222
- Floors
- 56
- Landmark
- No
- Amenities
- 24-hour attended lobby and concierge; fitness center; residents' lounge; rooftop terrace with harbor and skyline views; hotel-style services were historically delivered through the W and are now contingent on the hotel unit's operator — verify what is currently offered
Every recorded sale at this building, 2010–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,150
- Listing discount
- 8.7%
- Recorded sales
- 291
- On record
- 2010–2026
123 Washington Street was the Financial District's bet that branded-hotel living would anchor the neighborhood's post-9/11 residential rebirth. The Moinian Group filed the condominium offering plan in July 2007 — a 57-story Gwathmey Siegel glass tower one block from the World Trade Center site, with a 217-key W hotel on the lower floors and 223 compact, furnished-optional residences above, marketed by SHVO at pricing that reached well above $2,000 per square foot for studios and one-bedrooms per the Schedule A on file. It was the first W-branded residential building in Manhattan and, at filing, among the most aggressive pricing ever attempted in the district.
The building's subsequent history is one of the more instructive case studies downtown, and we hold the documents that tell it. Construction ran through the financial crisis; the hotel and first residential closings arrived in 2010. The twelfth amendment on file records that as of mid-2013, 144 of the 223 residences — nearly two-thirds — remained sponsor-owned, with the sponsor renting them out and paying down a $147 million Union Bank loan through unit sales. Blocks of sponsor inventory were marketed over the years, including a 32-unit block in 2015 covered by The Real Deal and, later, furnished short-term-rental inventory covered by Crain's New York Business. The W hotel itself closed in October 2020 in the pandemic's downtown hotel washout; the space has since operated under independent branding through successive third-party operators.
Why does this matter to a buyer in 2026? Because the building has structurally repriced. Recent resales have cleared in the low-$1,000s to mid-$1,200s per square foot per listing records — far below both the original offering pricing and the building's historical median — while the physical product (full-height glass, memorial and harbor views from the upper floors, hotel-grade base building) is unchanged. For investors and pied-à-terre buyers who underwrite honestly, 123 Washington is one of the deeper discounts to replacement cost in the Financial District; for everyone, it is a building whose diligence file matters more than its marketing history.
Architecture and unit composition
Gwathmey Siegel's tower rises as a faceted glass slab from a compact corner site at Washington and Albany Streets — at 56 floors per city records (57 marketed), it remains one of the district's taller residential silhouettes, with protected sightlines westward over the low-rise memorial blocks toward the Hudson. The residences occupy floors 23 through 56, above the hotel block: studios from roughly 400 square feet, one-bedrooms from roughly 600 to 900 square feet, and two-bedroom corner lines to roughly 1,200 square feet, typically eight units per floor in the lower residential stack per the Schedule A on file. This is deliberately compact, efficiency-driven stock — floor-to-ceiling glass and views doing the work that square footage does elsewhere. Sixty-four residences were sold furnished at offering, and the building's rental-heavy history means finish condition now varies meaningfully unit to unit.
Building operations
The condominium operates with a 24-hour attended lobby, concierge, fitness center, residents' lounge, and a rooftop terrace; a resident manager's unit is provided for in the offering plan. The structural fact to understand is the three-unit condominium architecture: the residential units, the Hotel Unit, and the Restaurant and Bar Unit are separate condominium components, so hotel-delivered services to residents have always been contractual rather than guaranteed — a distinction that became real when the W closed in 2020 and residents lost hotel amenities, as the downtown press reported. The offering plan, amendments, and the declaration and by-laws framework referenced in them are on file in The Roebling Research Library; the current operating reality — managing agent, house rules, hotel-unit operator, and what services flow to residents — should be verified as of contract date.
Local Law 97
- 2024–2029 annual penalty
- $58,612/yr
- 2030–2034 annual penalty
- $336,660/yr
- Per unit / month range
- $22 – $126
Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Management & transfer contacts
- Notable fees
- Working Capital Contribution = 2 months common charges; Closing Document Processing Fee $350; Background Check $150/applicant
Recent sales
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jun 12, 2026 | 44G | 1 BR · 1 BA · 708 sf | $787,500 | $1,112/sf | -6.3% |
| Mar 25, 2026 | 30B | 1 BR · 1 BA · 924 sf | $935,000 | $1,012/sf | -6.4% |
| Jan 9, 2026 | 48H | 1 BR · 1 BA · 606 sf | $760,000 | $1,254/sf | -4.4% |
| Nov 4, 2025 | 41B | 2 BR · 2 BA · 1,182 sf | $1,199,000 | $1,014/sf | +0.0% |
| Jun 23, 2025 | 38H | 1 BR · 1 BA · 606 sf | $815,000 | $1,345/sf | -9.4% |
| Jun 13, 2025 | 45D | 1 BR · 1 BA · 732 sf | $815,000 | $1,113/sf | -6.9% |
| May 2, 2025 | PH53G | 1 BR · 708 sf | $760,000 | $1,073/sf | -20.0% |
| Dec 12, 2024 | 44A | 1 BR · 1 BA · 799 sf | $985,000 | $1,233/sf | -33.2% |
Market read. Most recent trades (2026) cleared a median $1,150/sf across 3 sales. Median listing discount 8.7% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00053-7502) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.
What to know if you’re buying
Buy the basis, not the brand. The W flag is gone; what remains is a tall glass building with real views one block from the memorial, trading at a deep discount to its own history and to district replacement cost. If the unit-level math works at today's pricing, the brand history is irrelevant; if you are paying for "W Residences" cachet, recalibrate.
Diligence the hotel unit's status first. The hotel space's operator situation has changed more than once since 2020, and hotel operations affect lobby tone, elevator traffic, and any service expectations. Your attorney should establish who operates the Hotel Unit and the Restaurant and Bar Unit today, and under what term.
Understand the ownership base. This building has carried a high investor and renter share since the sponsor era — the amendments on file document the scale of it. That profile affects financing (lender condo questionnaires will probe owner-occupancy and any single-entity concentration), board dynamics, and resale liquidity. Get the current questionnaire early.
Views are line-specific and worth the walk-up. West-facing upper-floor units carry memorial, harbor, and Hudson views over low-rise protected blocks; lower and east-facing lines face the district's canyon. The per-foot spread between them is justified — inspect the actual line at the actual hour you'd live there.
Underwrite full taxes and real carry. Any original 421-a benefit has expired. Run the True Monthly Carrying Cost Calculator on actual common charges and taxes — on compact units, carry-to-price ratios drive the investment math.
What to know if you’re selling
Price to the current tape, not your basis. The building's repricing is public and visible to every buyer's agent. Anchoring to offering-era or pre-2020 comparables extends days on market without changing the outcome; the units that clear are priced to the recent line-level record.
Condition and furnishing are differentiators here. In a building with heavy rental wear and original-2010 finishes, a genuinely renovated or well-kept unit stands out. Document upgrades; if the unit was part of the furnished program, decide deliberately whether to sell furnished — the investor pool sometimes pays for turnkey.
Target the buyer the building actually attracts. Investors, pied-à-terre buyers, and first-time purchasers priced out of newer FiDi product are the realistic pool. Marketing should lead with carry math, views, and the 24-hour attended building — the things this stock genuinely delivers.
Comparable buildings
If you're considering 123 Washington Street, also evaluate:
- 75 Wall Street — the district's closest structural peer: condo residences above a branded hotel, with its own flag history
- 88 Greenwich Street (Greenwich Club) — converted tower one block north; the same compact-unit, value-tier market
- 20 Pine Street — the Collection: designer conversion with a comparable investor-heavy history
- 15 William Street — amenity-rich new-construction peer from the same cycle
- 50 West Street — the step-up: curved-glass tower with larger layouts and higher pricing
- 125 Greenwich Street — the newer glass tower beside the memorial; the modern alternative at a higher basis
- 130 William Street — Adjaye-designed arched-window tower; the design-led alternative
- One Wall Street — the landmark Art Deco mega-conversion; the district's premium conversion benchmark
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Financial District — read The Roebling Team Guide to Financial District.
Considering a move at W Downtown Hotel & Residences?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at W Downtown Hotel & Residences would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.