Property profile

123 Washington St HOTEL New York, NY 10006

OFF-MARKET
Hotels
Property ID
US63-4116238
132,163 SF Built 2007
Entity Owned 11-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional offering presents two full floors (28 & 29) within the prestigious W Downtown Hotel & Residences at 123 Washington Street in New York City's Financial District. Comprising 16 luxury condominium apartments, this stabilized investment opportunity boasts 9,658 square feet of prime real estate, priced at $15,000,000 ($1,553.12/sq ft and $937,500/unit). Built in 2014, the building features a Class A designation and offers a range of amenities including a 24/7 doorman, concierge services, state-of-the-art fitness center, residents' lounge, media screening room, cafe, and a stunning rooftop terrace with breathtaking city views. Residents enjoy convenient access to major subway lines, nearby green spaces, upscale shopping at Eataly and Whole Foods, and vibrant cultural attractions. Each apartment features high-end finishes, including Italian lacquer cabinetry, Corian countertops, Miele and Sub-Zero appliances, and luxurious bathrooms. The building also offers on-site parking. This property presents a unique opportunity for investors seeking a high-return, income-producing asset in a prime Manhattan location. The potential exists to add an additional floor, increasing the unit count to 24, making it ideal for 1031 exchange candidates or those seeking to expand their multi-family portfolio. Units can be sold individually or as a package. This is a condo master plan ownership.

Property profile

Verified
Property type Hotels
Use group HOTEL
Year built 2007
Total area 132,163 SF
Zoning code C6-9
APN 00053-1201
UPID US63-4116238

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Property Management Company
  • Condominium Complex
  • Interior Design Home Decor Store
  • Restaurant
  • Property Management Company

Location

123 Washington St, Unit HOTEL New York, NY 10006-1518
New York metro Census 1300 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$114.92M
Blend (final) Blend
$82.32M

Owner & transaction history

since 2014
5 recorded transactions
2014
Price N/A
2011
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C6-9 · New York, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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