W Downtown swaps Corcoran for Marketing Directors

Development changes sales team for the fourth time since 2008
By Hayley Kaplan | September 09, 2013 01:46PM

The Moinian Group has once again switched up its marketing strategy at the W Downtown, this time swapping Richard Nassimi’s team at the Corcoran Group for the Marketing Directors.

The Marketing Directors today relisted 10 sponsor units at the condominium tower at 123 Washington Street in the Financial District, with prices ranging from a $3.07 million two-bedroom to a $1.74 million one-bedroom. Nassimi is still listing rental units at the W ranging from a $7,500 a month two-bedroom to a $4,300 a month studio. The building’s hyped $40 million combination penthouse was listed as no longer available last week, according to StreetEasy.

Nassimi declined to comment. However, he told The Real Deal in April that the W would be sold out by the end of 2013 due to the high amount of interest in the building. The Marketing Directors referred requests for comment to the Moinian Group, which did not respond to inquiries by press time.

When the 223-unit building initially launched sales in March 2008, then-superstar broker Michael Shvo marketed its units. In 2010, the Moinian Group replaced Shvo (who had sued Moinian that year for $3.7 million in allegedly unpaid expenses and fees) with an in-house sales team led by senior managing director Jacqueline Bayer. Corcoran, led by Nassimi, started marketing the building in January 2012, as The Real Deal previously reported.

It is unclear how many sponsor units are still available at the building, but as of April, 60 of the units had closed, as The Real Deal reported at the time.