20 West Street in Manhattan’s Financial District was historically the home of the Downtown Athletic Club, prior to being converted to residential condos in 2005. The condo conversion happened after the Downtown Athletic Club declared bankruptcy in 2002, following depressed commercial activity in the area after 9/11. Today, the building is home to 283 luxury condo apartments and has a reputation for being great for investors as well as folks looking for a pied-a-terre residence.
The apartments at the Downtown Club have all been renovated and feature luxurious interiors and high-end fixtures. Each apartment has high ceilings, ample closets, marble bathrooms, and gourmet kitchens with stainless steel appliances, high ceilings. Apartments on upper floors also enjoy stunning views of the Lower Manhattan skyline and New York harbor.
The Downtown Club has plenty of amenities for residents to enjoy. It all begins with the white-glove doorman and valet & concierge services. There’s also a modern fitness center equipped with strength-training and cardio machines, a yoga studio, two landscaped roof decks, a tenants’ lounge, and a billiards room. 20 West Street is also conveniently located near numerous subways, with the 1, 2, 3, 4, 5, R, and W all less than a 5-minute walk from the property.
A lot of investors own apartments in the building as there is a very investor-friendly leasing policy, and the building generally offers reasonable cap rates. On the other hand, prospective buyers who are looking for a more tight-knit community within the building might be better off checking out nearby condos like 88 Greenwich Street.Read more