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Active - Apartment for sale
123 Washington Street, New York, NY
Facts & features
Why you’ll love it
- Renovated
- Pool
Presenting a unique investment opportunity to acquire three full floors on the 27th, 28th and 29th floors of a luxury doorman condominium building, encompassing 24 units of studio and one-bedroom apartments (8 apartments per floor). Each floor features a combination of five one-bedrooms and three studios, each with one bathroom. The one-bedroom units vary in size from 600 to over 900 square feet, while the studios span from 400 to 465 square feet. Each unit offers stunning panoramic vistas of the city skyline and/or the Hudson River. All units are equipped with modern kitchens with dishwashers, and in-unit washers and dryers.The three floors possess an exclusive distinction as the "Master Unit" within the condo declaration, affording a remarkable advantage - the ability to engage in highly profitable short-term rentals spanning 30 days or more, all without the need for condominium board approval.At present, all twenty-four condos are under a master lease agreement with a corporate/furnished housing company that functions as the master tenant. Under the terms of the lease, the master tenant assumes responsibility for all customary tenant-associated expenses such as internet and electricity. Moreover, they fully furnish, manage, and sublease these apartments to their clients for stays lasting 30 nights or more.The investment opportunity offers flexibility, as it can be obtained either with the existing master lease arrangement or delivered vacant, also creating the added flexibility of combining units without requiring any additional building authorization.123 Washington Street features premier amenities renovated in 2023 including a stunning outdoor roof deck and lounge on the 58th floor, screening room, resident lounge, game room with pool table, fitness center with outdoor space, and full concierge services.
Listed by: Nickolai Parker • (212) 729-1231 • Douglas Elliman Real Estate
Co-listed by: Fredrik Eklund • feklund@elliman.com • Douglas Elliman Real Estate
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Affordability
$388,601/mo
- Mortgage$121,357
- Property tax$232,932
- HOA fee
- Homeowners insurance
Beycome estimates only. Actual amounts and terms vary by lender and location.
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About Financial District
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Flood & climate risk
FEMA Flood Zone AE
In a FEMA Special Flood Hazard Area — flood insurance is typically required with a federally-backed mortgage.
More details
Base flood elevation: 10 ft. Source: FEMA National Flood Hazard Layer. Confirm on the FEMA Flood Map.
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Disclaimer
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided.
