123 Washington Street (W Downtown Hotel & Residences)

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.

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.

Recent sales

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.

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.

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.

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 Roebling Team at Compass works the Financial District and Battery Park City corridor as part of our downtown practice. We publish this building profile because 123 Washington Street buyers and sellers deserve building-specific intelligence — offering-plan documentation, sponsor-era history, and honest pricing analysis — not generic neighborhood commentary.

If you're considering a transaction at 123 Washington Street, a 30-minute consultation is the right starting point.