- Luxury Building Releases Custom Home to Market

NEW YORK, May 21, 2013 /PRNewswire/ -- The Residences at W New York - Downtown (http://123-washington.com), the only W residence in New York City and one of Manhattan's premier luxury condominiums, announced today that it has put its duplex "mega penthouse" on the market. Situated on the building's top two floors, the approximately 12,000 square-foot residence is priced at $40 million and includes a $2 million architectural design and construction credit from the sponsor, which allows the purchaser to customize the home to meet their exact taste and needs. The home, which is located on the 55th and 56th floors, boasts the greatest ceiling heights in the building.

"This is a unique opportunity for a purchaser or investor, whether from here in the United States or abroad, to put their own imprint on the building by designing the residence of their dreams – and one unlike any other that currently exists in downtown New York City," says Richard Nassimi, Corcoran's director of sales at The Residences. "The penthouse's placement is level to the top floors of the newly constructed Freedom Towers so, in addition to enviable 360 degree views of the city, from the Hudson River to the Statue of Liberty and points North, it allows the buyer to be a part of history in the making. In fact, the mega penthouse is the most expensive residence ever to be offered for sale in the Financial District."

Lower Manhattan is also currently the fastest growing residential neighborhood in New York City. Larry Silverstein, the venerable developer leading the World Trade Center redevelopment, has dubbed it the "new Rockefeller Center" (http://www.wtc.com/news/silverstein--wtc-will-be-the-new-rockefeller-center\) saying, "The impact and transformation will be similar to what Rockefeller Center did in 1930 for Manhattan's West Side."

According to Nassimi, the release of the mega penthouse is in reaction to these unmet demands in the current marketplace. "Many owners request permission to combine units to create the kind of spacious home they desire in the kind of trophy building they want to live in," says Nassimi. "We are getting more and more requests for residences with the space and views that our mega penthouse offers."

For more information on the mega penthouse, or on The Residences at W New York - Downtown, contact Richard Nassimi at 212.385.1100.

About The Residences at W New York - Downtown

Offering lifestyle living at its most sophisticated, The Residences at W New York - Downtown, a Moinian Group development, is the first globally branded luxury hotel and condominium of its size and scale in Downtown New York. Residents enjoy exclusive benefits including preferred room rates at Starwood Hotels & Resorts Worldwide, Inc. and a-la-carte hotel amenities such as maid and 24-hour in-residence dining (the latter, from BLT Bar & Grill Restaurant, located on-site). Situated at 123 Washington Street, The Residences at W New York - Downtown offers a 421-A tax abatement which provides relief on property taxes for 10 years.

The glass-clad building was designed by internationally recognized Gwathmey Siegel & Associate Architects and offers panoramic views of the Hudson River, the Statue of Liberty and points North, including many iconic Lower Manhattan buildings. It is just steps from world-class retailers, fine and casual dining and public transportation.

SOURCE W New York Downtown