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56 Crosby Street, #3A (Brown Harris Stevens) 56 Crosby Street, #3A (Brown Harris Stevens)
As residential conversions are being discussed and enacted all over New York City, the Financial District is often cited as a success story for the residential conversions that took place in the years following the 9/11 attacks. The Downtown Club at 20 West Street was an early entrant, having been converted from an athletic club to a condominium in 2006.

The Art Deco building was designed by Starrett & Van Vleck, the team behind iconic department stores Lord & Taylor and Saks Fifth Avenue, and constructed as the clubhouse for the Downtown Athletic Club. It featured an Olympic-sized swimming pool, bowling alleys, basketball, squash, and handball courts, and private hotel rooms on top. The Downtown Athletic Club famously issued the Heisman Trophy for excellence in college football, and the presentation took place in the building for many years. The building was declared a New York City Landmark in 2000.
20 West Street was restored to its original glory amidst the residential conversion. It still counts a gym among its amenities, and additional offerings include a spa area, media room, and roof terrace. The surrounding area has also gotten a boost in recent years between newly opened restaurants, the Financial District's first Whole Foods opening up the street at One Wall Street, and the South Battery Park City Resiliency Project.

However, the conversion resulted in some awkwardly shaped apartments with unusual floor plans and limited light. Six units in the building were among nearly 400 listings that experienced price reductions from June 17-23, 2025.

In this article:

Carlton Regency South, 137 East 36th Street
Carlton Regency South, 137 East 36th Street Murray Hill
1388 Lexington Avenue
1388 Lexington Avenue Carnegie Hill
150 East 93rd Street
150 East 93rd Street Carnegie Hill
212W93, 212 West 93rd Street
212W93, 212 West 93rd Street Broadway Corridor
14 West 87th Street
14 West 87th Street Central Park West

Downtown Club, #5C (Weichert Properties)

Last week's price cuts also included a Soho loft featured the film adaptation of The Devil Wears Prada. A pivotal scene in the movie played out there, but the apartment at 56 Crosby Street has an impressive history off-screen as well as on. Appropriately enough for a film set in the fashion world, the building got its start as a department store. It then spent several decades as a storage warehouse before it was converted to condos in 1999.

Residence #3A's first owners were the founders of concept design store The Apartment, and opted to customize many details of their new home. Features like a masonry encasing for the fireplace, a rounded baseboard for displaying art, and free-floating bookcases took shape among original details like brick walls, Corinthian columns, soaring ceilings, and oversized windows. The condo was listed for $8.95 million in March 2025, and a price reduction brings it down to $7.95 million.

56 Crosby Street, #3A (Brown Harris Stevens Residential Sales LLC)
Notable listings may be found below, along with a full chart of last week's reductions. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.



Select Listings with Price Improvements


535 West End Avenue, #PH (Douglas Elliman Real Estate)

20 West 12th Street, #TH (Brown Harris Stevens Residential Sales LLC)

125 West 15th Street, #TH (Compass)

167 State Street, #TH (Corcoran Group)

The Century, #9MK (Brown Harris Stevens Residential Sales LLC)
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The Apthorp, #6A (Douglas Elliman Real Estate)

The Eldorado, #12G2 (Douglas Elliman Real Estate)

176 Duane Street, #4 (Douglas Elliman Real Estate)

The Plaza, #1807 (Corcoran Group)

279 Central Park West, #5B (Brown Harris Stevens Residential Sales LLC)

77 Greenwich Street, #31A (Christies International Real Estate Group LLC)

212W93, #5B (Douglas Elliman Real Estate)

481 West 145th Street, #TH (Serhant)

14 West 87th Street, #6 (Hauseit LLC)

The Ardsley, #2I (Douglas Elliman Real Estate)

150 East 93rd Street, #PHE (Douglas Elliman Real Estate)

610 West 110th Street, #5C (Compass)

Lofts on Lex, #D1 (Compass)

Atrium at Chelsea, #14A (Corcoran Group)

Carlton Regency South, #2/C (Corcoran Group)

1388 Lexington Avenue, #2R (The Agency Brokerage)

The Remsen, #9C (Compass)

Castle Village, #95 (Corcoran Group)

Would you like to tour any of these properties?
Just complete the info below.
  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?