123 Washington Street (W Downtown Hotel & Residences)
123 Washington Street, New York, NY 10006
BBL 1000537502 · BIN 1088442
- Type
- Condominium
- Floors
- 56
- 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
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Doorman
- Full-time doorman
W Downtown Hotel & Residences sales history: 263 recorded sales
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, 2026 to date
- $1,218
- floor-adjusted, 5 sales
- Listing discount
- 9.4%
- Recorded sales
- 263
- On record
- 2010–2026
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.
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 offering prices set out in the Schedule A on file. It was the first W-branded residential building in Manhattan.
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 trade press 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.
For a buyer in 2026, compare dated resales with actual offering-era closings, adjusting for unit, condition and services. The tower retains its full-height glass and line-specific memorial and harbor exposures, but neither the original specifications nor its hotel history establishes current condition or a resale discount. For investors and pied-à-terre buyers who underwrite honestly, any claim of a discount to replacement cost requires a documented current construction, land and soft-cost estimate; 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 westward sightlines, depending on floor and exposure, 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-component condominium: the 223 residential units, the Hotel Unit, and the Restaurant and Bar Unit are separate condominium units, 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.
Application and transaction fees
Fees below are from building management's published schedule, as of October 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
Purchase
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeePaid to management | Paid by Buyer | When With the application | Amount $750 | Refundable Non-refundable |
| Background Check FeePer applicantPaid to management | Paid by Buyer | When With the application | Amount $150 per applicant | Refundable Non-refundable |
| Closing Document Processing FeePaid to management | Paid by Buyer | When With the application | Amount $350 | Refundable Non-refundable |
| Working Capital ContributionPaid to the building | Paid by Buyer | When With the application | Amount Equal to 2 months of Common Charges | Refundable Not stated |
Rental or lease
3 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeePaid to management | Paid by Tenant | When With the application | Amount $500 (term over 6 months) | Refundable Non-refundable |
| Background Check FeePer applicantPaid to management | Paid by Tenant | When With the application | Amount $150 per applicant | Refundable Non-refundable |
Lease renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeePaid to management | Paid by Tenant | When With the application | Amount $250 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Monthly carrying charges in recent sales
- Common charges + taxes, per room
- $999 per room a monthMedian of 14 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges + taxes, per square foot
- $3.76 per square foot a monthMedian of 15 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges alone, per square foot
- $2.45 per square foot a monthMedian of 19 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
- Real estate taxes alone, per square foot
- $1.37 per square foot a monthMedian of 19 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
Common charges plus real estate taxes, combined into one monthly figure the way New York condominium listings show them. Add a mortgage payment for the monthly outlay. The split into common charges and taxes comes from the listings that also give the annual tax, a different sample, so the two lines need not add up exactly to the combined median; a tax abatement can hold taxes below the full amount until it expires. A summary of recorded sales and listings, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: recent listing records
- Concierge
- YesSource: recent listing records
- Attended lobby
- YesSource: The Roebling Team's building profile
- Live-in superintendent
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of Buildings elevator records
- Amenities noted
- Fitness room, residents' lounge, roof deckSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $58,612/yr
- 2030–2034 annual penalty
- $411,708/yr
- Per unit / month range
- $22 – $154
- Modeled exposure split equally across 223 units (the residential count on the city's lot record). Not an assessed amount; condominium owners are typically charged by each unit's common-interest percentage.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the inspector (QEWI) identified conditions requiring monitoring or repair, with repairs due by the deadline stated in the filing. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2015–20 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City data last refreshed September 2026.
421-a Tax Abatement
- Last year of benefit
- FY2021
- Fully taxed from
- FY2022 (2021–22)
- Program
- 421-a (10-year)
The 421-a benefit has run its term, so taxes on these units have stepped up toward the full assessed amount. Get the current tax bill for the specific apartment and compare its tax component with any older listing: an earlier carrying-cost figure may reflect the benefit, or different common charges and assessments. Treat a comparable sale made while the abatement was still running as priced under different taxes.
Source: NYC Dept. of Finance property-tax exemption records (421-a), refreshed 2026-09-06 · The Roebling Research Library. Confirm the exact step-up schedule on the building’s DOF tax bill. Years shown are NYC tax years, which start July 1 — FY2022 runs July 1, 2021 to June 30, 2022. The benefit last appears on the 2021 assessment roll, which is what dates the end of the term.
The 421-a Expiration Wave — our study of when these benefits expire citywide, and what the resale record shows about pricing as they do.
Management & transfer contacts
- Policies and fees
- Working Capital Contribution = 2 months common charges; Closing Document Processing Fee $350; Background Check $150/applicant
Recent sales
Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Aug 27, 2026 | 36H | 1 BR · 1 BA · 606 sf | $765,000 | $1,262/sf | -2.9% |
| Jul 27, 2026 | 50H | 1 BR · 1 BA · 606 sf | $725,000 | $1,196/sf | -19.4% |
| 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% |
Market read. Most recent trades (2026 to date) cleared a median $1,218/sf (floor-adjusted) across 5 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 9.4% 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; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. 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.
Closed rents at W Downtown Hotel & Residences, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 8 | $3,900 |
| 1 bedroom | 75 | $5,150 |
| 2 bedroom | 14 | $7,972 |
97 closed leases, October 2023 to September 2026. Most recent lease September 2026. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at W Downtown Hotel & Residences and nearby.
At the recent median sale of $801K (10 sales in the past 24 months, since October 25, 2024), a buyer putting 25% down would pay about $30,613 to close, or 3.8% of the price.
- Mansion tax: $0
- Mortgage recording tax: $11,568
- Title insurance: $3,606
- Attorneys, lender, building fees, reserves and filings: $15,439
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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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, whose current pricing should be checked against actual prior closings and a documented replacement-cost estimate. 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. The amendments document substantial sponsor-owned rental inventory as of mid-2013; they do not establish today’s investor, renter or single-entity shares. Obtain a current condominium questionnaire and ownership schedule to evaluate lender requirements and governance; the historical mix does not establish current resale liquidity.
Views are line-specific. Upper-floor units may have memorial, harbor, or Hudson views depending on orientation, though none is protected; 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. Department of Finance exemption records show the unit lots' 10-year exemption, begun in 2012, last listed for the 2022 tax year. 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. Use dated line-level sales and current competing listings, adjusting for condition and services. Original asking prices and pre-2020 transactions require context; this account does not establish the marketing time or result of a particular asking price.
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 to the south; a compact-unit alternative for a dated price comparison
- 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 — a curved-glass tower with larger layouts; compare dated, adjusted sales
- 125 Greenwich Street — the newer glass tower beside the memorial; a newer alternative for a dated, adjusted price comparison
- 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
More Financial District buildings
- 114 Liberty Street — 1913 condominium
- 117 Beekman Street — 1918 condominium
- 119 Fulton Street (Fultonhaus) — 1919 condominium
- 125 Greenwich Street (The Greenwich by Rafael Viñoly) — condominium by Rafael Viñoly
- 130 Beekman Street — condominium
- 130 Fulton Street (The Fulton Building) — 1891 condominium
The neighborhood
For the full corridor — architecture, transit, and pricing across Financial District — read The Roebling Team Guide to Financial District.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at W Downtown Hotel & Residences?
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646.939.7375 · c.cohen@compass.com