A Singapore-linked investor is looking to cash out on a sizable slice of Lower Manhattan, putting three full floors of the W Downtown at 123 Washington Street in the Financial District on the market with a $22 million price tag. The bundle includes 24 furnished studios and one-bedrooms that are currently run as extended-stay units, giving a buyer either plug-and-play revenue or the chance to stitch them into larger apartments. The floors are being sold as a single master unit, a structure that allows short-term stays of 30 days or more under the condo declaration.
The offering
The listing packages three consecutive floors, the 27th, 28th and 29th, totaling roughly 14,514 square feet and 24 units overall, with an asking price of $22,000,000, listing courtesy Patrick Walsh of Howard Hanna NYC. According to Brown Harris Stevens, the units come with full building amenities and can trade as a turnkey investment or be delivered vacant for a full-blown conversion play.
How it is packaged
The block is structured as a single master unit and is currently master-leased to a corporate furnished-housing operator that furnishes, manages and subleases the apartments for extended stays, according to The Real Deal. Listing broker Patrick Walsh told The Real Deal that a buyer can close with the existing master lease in place for immediate income, or take the units back vacant, a level of flexibility aimed at both income-focused investors and developers thinking about consolidating units.
Hotel history and legal tangle
The three floors sit inside a tower developed by the Moinian Group that opened in 2010 and combines hotel rooms with 223 condo residences, according to 123 Washington Street. The building's hotel operator later became involved in litigation. LuxUrban disclosed a June 2025 settlement with the property owner in an SEC filing that stated the lease was deemed terminated and the company agreed to surrender possession as part of a roughly $3.4 million agreement, as detailed in LuxUrban’s 8-K.
Why investors might bite
Walsh told The Real Deal that occupancy ran at about 94 percent last year, a strong signal of demand for furnished, extended-stay product in Lower Manhattan. Combined with hotel-style perks like a rooftop lounge, concierge and gym, the three-floor block lines up as either a ready-made hospitality income stream or a blank canvas for unit recombination.
The offering is being pitched to buyers who want scale and immediate revenue, with listing materials and MLS information directing prospective investors to the broker contact details. With the master-lease structure still available, buyers are effectively choosing between stabilized income in the near term and a vacant-unit repositioning strategy down the line.
