Buyers moving into the W Downtown

August 12, 2010 12:15PM

Jacqueline Finkelstein-Bayer of the Moinian Group and the W New York Downtown

Move-ins at the W New York Downtown Hotel & Residences are slated for Sunday, according to the New York Post. The 58-story building at 123 Washington Street in the Financial District
— which has 223 condos — sits atop a 217-room hotel operated by Starwood’s W
brand, which opened Tuesday. The Moinian Group, the building’s developer, initially put the condos on the market in 2007, pre-construction. But in the down market, Moinian put sales on hold and waited until the building was further built and the economy had “recovered,” the Post said. “We felt we had an exceptional product, and we decided to hold back because we wanted to preserve our pricing,” said Jacqueline Finkelstein-Bayer, senior managing director at the Moinian Group, who is handling sales. The pricing was set at around $2,100 per square foot. Since coming back on the market in January, the W has closed two condos — a one-bedroom and a two-bedroom — for a total of more than $4 million, the Post reported. The Moinian Group says it has $100 million worth of units in contract. [Post]