Manhattan Foreclosures | 2 minute read
Foreclosure of the Week: Financial District Penthouse Up for Grabs at Auction
BY Eliza Theiss | Sep 28, 2018
368-square-foot penthouse condo unit located in the Financial District goes to auction on October 10, with a lien of $451,098. The auction will take place at 2:15 PM at 60 Center Street, New York City.
One of only a handful of Manhattan foreclosures, 20 West St #PH-F was purchased in May 2007 for $465,000. The buyer took out two mortgages at the time of purchase, an acquisition for $372,000 and another for $46,450, for a total finance amount of $418,450. Both mortgages were secured through Washington Mutual Bank, FA and later assigned to U.S. Bank National Association.
A lis pendens was first filed against the property in 2012 by U.S. Bank NA for $418,450. It was renewed in 2018 and remains active, thus leading to the foreclosure of the property. The property is currently set to go to auction on October 10th. It was previously scheduled for auction in December 2017.
A Comps search shows the estimated market value of this property at around $525,000 determined by the sale price of five similar units in the area with nearly the same square footage. Two units in the building, #29F and #16C, have a similar square footage and recently sold for $565,000 and $570,000.
The property is a penthouse unit in the Downtown Club, a 45-story condo tower in the Financial District. Building amenities include a 12,000-square-foot fitness center, sauna rooms, a landscaped common terrace, 24-hour concierge service, 6-day valet service, billiards table, and indoor assigned bike storage.
Disclaimer: As with any auction, we recommend performing thorough due diligence and running your own comps to find out how much the property is worth. Information provided in this article is not, and should not be regarded as investment advice.
Latest Posts
Want to stay on top of the real estate market?
Access comprehensive property data and ownership information with intuitive research tools.
POSTED IN: Manhattan Foreclosures, New York Foreclosures
Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. Reach her at [email protected]
Recent Reports
Locked-In Owners, Mobile Renters: Homeowners Stay Put as Renters Move 3.7x More Across Largest U.S. Cities 
Renters became the primary drivers of long-distance mobility across the largest U.S. cities, moving 3.7 times more than owners in 2024, as high mortgage rates and housing costs kept many homeowners in place.
$4.6M Hudson Yards Maintains Top Spot, Luxury Sales in Malba Set $2.5M Price Record for Queens
Despite prices declining, Hudson Yards remained the most expensive NYC neighborhood, but TriBeCa’s growth closed the gap to under $400,000, while Malba set a new historic price record for Queens at $2.5 million, securing the highest ranking ever for the borough at #5.
2026 Q1 Foreclosure Report: Brooklyn Filings Fall Sharply, Bronx & Staten Island Hit New Peaks
Behind a deceptively mild citywide downtick, borough foreclosure markets pulled into significantly diverging paths as Brooklyn cases were nearly halved and the Bronx hit a new, record high. Meanwhile, Queens remained unchanged, Staten Island surged back up and Manhattan cooled slowly.