Updated 3 years ago
Off Market
W New York Downtown
123 Washington Street, MULTI-UNIT
Financial District, Manhattan | Rector Street & Carlisle Street
Bulk Sale 63 Rooms24 Beds24 BathsCondo
$24,000,000
RE Taxes$1
Listing Features
- Washer / Dryer
- Dishwasher
Building Amenities
- Full Service
- Billiards Room
- Business Center
- Elevator
- FIOS
- Fitness Facility
- Resident Lounge
- Roof Deck
- Sauna
- Screening Room
- Spa Services
- Steam Room
- Valet Service
Policies
- Pets Allowed
- Pieds A Terre Ok
Property Description for 123 Washington Street, MULTI-UNIT
The investment comprise of three floors of the exclusive 123 Washington Street, which includes, twenty-four Luxury Condominiums ( eight condos er floor). Each floor has identical lay-out and unit mix, five 1 bed, one bath and 3 studios, one bathroom condo per floor. The one-bedroom units' range in size from 606-924 square feet and the studios range from 394-465 square feet. Every unit has incredible panoramic views of the city skyline and/or the Hudson River. The property is located in the heart of the Financial District, just steps from the World Trade Center Memorial, Oculus, and Fulton Street Station.
All twenty-four condos are currently master-leased through September of 2021 with a California-based corporate/furnished housing company, as the master-tenant. The master- tenant currently operates a portfolio of roughly 2,500 apartments across six cities: San Francisco, Los Angeles, Seattle, Washington D.C, Boston, and the NY Metro Area.
Per the lease, the master-tenant covers all standard tenant related expenses (cable, internet, electric, etc) in addition to fully furnishing, managing and subleasing the apartments to their corporate clients for a minimum of 30+ nights. The investment can be delivered Master-Leased or Vacant, presenting the opportunity to realize significant increased revenue. Ownership is amenable to discussing on a case by case basis.
All twenty-four condos are currently master-leased through September of 2021 with a California-based corporate/furnished housing company, as the master-tenant. The master- tenant currently operates a portfolio of roughly 2,500 apartments across six cities: San Francisco, Los Angeles, Seattle, Washington D.C, Boston, and the NY Metro Area.
Per the lease, the master-tenant covers all standard tenant related expenses (cable, internet, electric, etc) in addition to fully furnishing, managing and subleasing the apartments to their corporate clients for a minimum of 30+ nights. The investment can be delivered Master-Leased or Vacant, presenting the opportunity to realize significant increased revenue. Ownership is amenable to discussing on a case by case basis.
Listing History for 123 Washington Street, MULTI-UNIT
Now
06/19/2023
POM by Maria Ienna
Corcoran
02/27/2023
$24,000,000
Initial Price by Maria Ienna
Corcoran
Building Details for 123 Washington Street
OwnershipCondo
Building TypeHigh-Rise
Service LevelFull Service
AgePost-War
AccessElevator
Year Built2010
Financing Allowed90%
Floors/Apts53/223
Transit and Citi Bike
Subway
Rector St
0.11 miles
Rector St
0.14 miles
Wall St
0.15 miles
Cortlandt St
0.19 miles
WTC Cortlandt
0.21 miles
Citi Bike
Albany St & Greenwich St
0.04 miles
Greenwich St & Rector St
0.06 miles
Financial District | Manhattan
Quick Profile
The Financial District (FiDi) today is a bit of a hybrid neighborhood, as the residential component continues to grow in an area that has been historically dominated by the financial and insurance industries. The residential experiment, which began more than two decades ago, continues to evolve in an area with a large concentration of older, large office buildings. Developers have taken to these aged buildings and have re-positioned them as residential properties. In turn, the public spaces, services and retail establishments needed for a thriving residential neighborhood have followed making this an important destination for city residents.
Since 2000, the residential population of the Financial District has nearly tripled in size from about 23,000 residents to more than 60,000 inhabitants. Many of the residential pioneers to FiDi were people attracted to the lower rents in the neighborhood, particularly the post-collegiate crowd. While the millennials still maintain a large footprint here, there are plenty of families that now consider the Wall Street area home.
Many of those that live in the Financial District walk to work. If you reside here and need to commute elsewhere, the transportation from here is about as good as it gets. Express trains can take you to Midtown, either east or west, in twenty minutes. Brooklyn is but a single subway stop away. There are also ferries across to Brooklyn, Queens and Staten Island.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 2024450
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