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Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail condominium situated in The Downtown Club at 20 West Street. The property runs block through to Washington Street, and is between Morris Street and Battery Place in Manhattan’s Financial District.  The asking price is $6,995,000, which represents a 5% in place return.

The condominium unit contains approximately 4,293 square feet on the ground floor with 5,245 square feet on the lower level and 1,000 square feet of outdoor space.  It is occupied by The Learning Experience, a child care center with over 200 locations in the United States, providing an investor with steady income and great long-term rental potential.  The unit has a 421G tax benefit which started July 1, 2007 and runs for 14 years.

20 West Street, also known as The Downtown Club, is a historic high rise completed in 1930. One of Manhattan’s most distinctive art deco skyscrapers, it was designated as an official New York City landmark in 2009.

The property is centrally located near every major subway line and is only steps away from Battery Park and the Hudson Waterfront.  It benefits from its proximity to Battery Park City, South Street Seaport, the Staten Island Ferry and the World Financial Center.  It is only four blocks from World Financial Plaza/Brookfield Place, which will encompass more than eight million square feet of premier office space, a European-style marketplace, and world class shopping and dining.

For more information on this listing, contact Massey Knakal Partner James P. Nelson or Director of Sales Nick Petkoff at 212.696.2500.

Click here for listing details

Neighborhoods: Financial District