20 Exchange Place Apartments

I like living here!
Great doormen, fair management, responsive when repairs are needed.
2 main issues I have:
–There is, roughly, 1 laundry room for every 10 floors. HOWEVER, for Floors 28 – 54, there is onl 1 laundry room and it gets very busy. It’s chaotic. Beware of this if you move to an apt in floors 28 – 54.
–The gym needs new equipment and a remodeling/​redecorating. Some equipment is very old (look at the dumbbells if you visit, some of the handles are so chaffed they’re down to the metal) and there could be more machines for chest exercises.
–apts in higher floors tend to have rusty water come out. In my apt, it is about 30% of the time. It’s brief, but disconcerting. I order distilled water vs. drink the tap water.
I have lived here for many years = it’s a good building! I’d love to see these kinks get worked out… especially the laundy room and gym situation…
Hope this helps!

I lived here for a year, and that was definitely enough. The good: It’s a beautiful building, no doubt about that (although you can’t see it from inside), and the doormen and staff are great, but are just not supported by the new management. We were on a high floor, and I think roaches are too lazy to crawl that far.
The bad: The new management is horrible, and there are some flaws with the renovation that are problematic. It was a cheap job where they cut corners and along with cheap finishes, there are resulting problems. Our bathroom exhaust vent blew IN to our apartment. From other apartments. From their kitchens, and yes, from their bathrooms. So, unfortunately, we knew that every Saturday morning at about 10, we had a neighbor who DESTROYED his or her bathroom (I can’t bring myself to believe it was a her). And by extension, ours too. Pretty gross. We asked that it be fixed repeatedly, and after insisting repeatedly that they had fixed it, which they had not, their solution was to put a flat piece of magnet over the vent, which meant that it only blew 20% of the smell of someone else’s toilet back into our apartment. Not great. And it of course didn’t work to exhaust from our bathroom either. This most likely happens on upper floors because of stack effect in the vent stacks and an underpowered fan on the roof. So from the upper floors, you get great views, and the smell of your neighbor’s sh*t. As previously mentioned, there was no outdoor space for the entire year we were there. The gym was horribly maintained, the majority of the machines were regularly broken. The fact that so many people have dogs means that the entire street — exchange place — reeks of urine, and the bleach that the doormen try to clean it up with. And then, to top it off, the new management company only sees dollar signs. The building used to be priced competitively with the rest of the market, rents have recently gone through the roof. You’ll definitely find better value elsewhere.
The company that USED to manage the building was called MetroLoft NYC. They were very good to work with and have some other buildings around. That might be a better place to look, but definitely check the reviews and do your homework, you never know who’s running these places from year to year. Beware of this one!

Incompetent and deceptive management. Small, crummy apartments. Disheveled Building. Avoid like a Biblical Plague.

I have been living there for 2 years and I must say I’m really happy here. The building staff is very friendly and attentive. The apartment seems like a good deal in comparison to what most of my friends are paying for smaller apartments. I haven’t had any issues with the management company so far. They have an onsite office which is very convenient and have quickly dealt with any complaints.
LOVE, LOVE, LOVE the new renovation of the lounge. I never stepped foot in the old one which was dark and horribly decorated, but this one is actually an inviting, open living room type of space and a cool place to watch TV, work on your laptop and meet some of your neighbors!

Just an amazing place to live. Management and doormen are on point.
Lived here 4 years and here is the jist:
1) never seen a cockroach
2) doormen are super funny and friendly. They stopped me the first time I set foot into the building (good thing) and verify the identities of anybody who walks in. They somehow remember who is a frequent friend.
3) Building management (have spoken with Monique) has been awesome to deal with and speak with
4) Every time something has needed repairs, a handyman or maintenance person comes almost immediately
5) Amenities are nice and multiple floors with W+D
I have convinced one of my friends to move in this building and she loves it

The building is nice and all but the doormen are awful. Every time I walk in the door the pounce like dogs and ask where I’m going, I LIVE HERE. They do the same to guests and my roommates. Feels like I’m walking into a police precinct every time i go home.

Stay away from this place. If you’re fortunate enough to read these reviews before signing the lease, congrats, you’ve dodged a bullet.
I haven’t even moved in yet and already I’m getting lied to by management. When I signed the lease in March (for a May move in date), I was told construction on the roof deck/​lounge would be completed by May. How convenient, right? Turns out (and if you continue reading, clearly I’m not the only one), I was grossly misled. Looks like current tenants aren’t even being told that the rooftop will remain closed this summer before resigning, and prospective tenants are being told the rooftop will be open when they arrive when that’s not the case.
Oh, but don’t even try to contact them about it. It becomes a case of he said, she said, because management will deny ever telling you that the roof deck would be available during your time at 20 exchange. Essentially, there’s nothing you can do. Thanks for signing with us!
If this hasn’t convinced you, please take the time to read the rest of the comments from people who’ve actually lived there. I certainly wish I had :(

I have lived here for almost 3 years. To be fair, it WAS a well-​run building under the old management company, before I renewed my lease. NOW, with First Service, the place has gone down the tubes. Don’t be fooled by the pretty architecture, and staged apartment photos, living here ain’t so great.
The corporate management under staffs the front desk, leaving the guys who work here (who are great) overwhelmed with mail and packages, and ungrateful residents constantly bombarding them with various requests. They (apparently) want to put in a restaurant downstairs, and increase the overall occupancy, but I can’t imagine how much more foot-​traffic this place can withstand before it’s like Grand Central Terminal.
Under the old management company, when Sandy hit, residents were offered a discounted month’s rent without us even asking for it. Compare that to the new management company which will not discount rent, despite the roof deck being unavailable for the last year!
All in all, I implore you to avoid signing a lease here or anywhere run by First Service.
PS the washer machines are expensive, and need to be replaced, but they probably won’t end up doing that despite the insane rent increases they’re proposing.
PPS the stairwells always reek of cigarette smoke

I’ve lived here 5+ years and love this building, especially the doormen and maintenance crew. They are the best!
A warning however: the outdoor space was closed all summer due to construction last year and will be closed again this summer.
The management company, First Service Residential, neglected to mention this in advance of resigning my lease and, worse, continues to pitch outdoor space as an amenity to prospective tenants.
Likewise, the shared lounge space was closed in February for renovations and remains closed two months later and construction of a new mailbox vestibule in the lobby has been going on for at least 6 months.
In summary, five stars for the building itself and the day-​to-​day staff (doormen, et al), but two for the management company.
[UPDATE: the terrace and lounge reopened for Memorial Day.]

I had a really lovely time living here for the first few years, but wanted to update that I got MURDERED with fees when I asked to break a lease because I was pregnant and needed a 2-​bedroom. 4 years of being a great customer means nothing, I guess. Thanks for charging me like $ 9K to move when I was pregnant and couldn’t work, that was really great.

Well, looks like I have a choice between a 5.3% increase for a one year lease or a 13% for a two year lease.
Now let’s compare to the overall market:
Looks like on average two bedrooms increased 1.1% across Manhattan, including the more upscale areas. So, First Service Residential (the awful management company that took over) is basically trying to gouge for 3x the average increase in Manhattan.
Let’s factor in that one of the ‘bedrooms’ in my apartment is a home office and does not have a window (violating NYC Administrative Code § 27 – 2004, –2076, –2058; MDL § 1−4−18)).
That means that, the expectation is someone will be paying over $ 2,000 for a bedroom without a window.
Hrmmm…doesn’t seem very attractive now does it? Also factor in that we still don’t have a terrace… because they closed it due to city codes.
So, let’s take a look at what we do have?
Well, we have a laundry room (so does everyone else)
We have doormen (so does every other building down here)
We have a «historic building» (who cares?)
We have random parties in our lobby that management makes money off of while tenants suffer.
The only real selling point is that this building is dog friendly (except not everyone has a dog and they started charging hefty fees for dog owners)
And as you can see by the management responses, you have a company that basically thinks the customer is always wrong and they are always right. Would you feel comfortable being forced to put up with that?
I can safely say that this is not a good deal, look elsewhere.

Apartments are a nice size and building is beautiful from the outside. That’s where the 2 stars come from. Beyond that I’ve had all negative experiences with this building. The new management is terrible. They take forever to respond to you and are quite rude. They’ve lied to me multiple times and are quick to dismiss your concerns. Living here, you hear and smell everything that your neighbors are doing. Doormen never buzz you when you have deliveries or guests – they just let them right up. Porters give you excuses for problems instead of solutions. Definitely NOT a luxury building. Management sees you as a dollar sign but doesn’t use your money to fix any problems. This new management has completely ruined what could have been a great building. I will not be renewing my lease. Stay away from any of first residential buildings if you are looking for people who care.

I lived in this building for 3 years before recently moving. I definitely agree with the other reviewers that it has gone drastically downhill since new management (First Service Residential) took over this past summer. Just read Building Manager Monique’s responses to the posts below to get a sense for how management will respond to any complaints/​requests from their tenants — ignoring the actual problem and turning things around against the tenant. These people have no humanity and are widely disliked by most tenants in the building.
Problem have included:
— GQ NBA party held in the building with no notice given to tenants. This included a live concert that made the first 10 floors of the building literally shake with bass — the noise was unbearable and went on until 3am. When I complained to management, they did not acknowledge the problem or apologize, but just said they didn’t have any other events planned at the time
— Laundry machines, gym equipment constantly breaking down and not being replaced; Management finally replaced 3 of the 6 treadmills in the gym, still leaving other machines broken.
— Scaffolding that has been up for the past 4 years — taking away from any ‘landmark’ value this building has
— Roofdeck and lounge closed for construction. The roofdeck has been closed since 2 summers ago and tenants weren’t even notified — including those resigning their leases at the time
— Construction on the 2^nd floor where the room I share a wall with was demolished (I was informed later on the day that it actually started — no advance notice for me to get my dog out of the apartment to avoid extreme noise levels
— When I asked Management to end my lease 3 months early (due to noise levels + difficulty finding a sub-​letter with demolition going on next door) they just said no; I finally found a sub-​letter despite all of this who needed to extend the lease by a month and was also told no

The management company in this building sucks. Who are they to tell me who I can let into my apt? I will not be renewing my lease. Bring back metro loft who actually knew how to run a building.

As a born and raised New Yorker with tons of experience dealing with management companies, I can say only one thing — HORRIBLE. The new management is disrespectful, arrogant and condescending. What was once a jewel of a building in the Financial District is now simply a run of the mill, overpriced dump!
What a shame!

I am very disappointed in my recent experience with the management. As other reviewers have noted, a new management company arrived and have been quite different from the previous ones.
We asked to extend our lease one measly month in order to help us find a new place to live (as — surprise! I am pregnant and we now need a two bed) and they said absolutely not. Also: the outdoor space has been closed all year due to ongoing renovations and façade maintenance. We have been cooped up in the smelly financial district for far too long, another factor in our ultimate decision to move. No shared outdoor space for a building this size? It’s ridiculous.
I understand that the real estate business in New York is cutthroat, but these people are cruel, strict and unfeeling. If you are looking for a building with management that is compassionate, I would look elsewhere.

This past weekend, my family moved to 20 Exchange after trying (for 2 mos) to assign our prior lease elsewhere. The management office at 20 Exchange was refreshingly helpful in helping us find the right apartment and above and beyond flexible as we worked through our prior apartment’s rigidity and inflexible rules.
Special kudos to Christopher Costa for his attentiveness, professionalism and support throughout the process.

I have lived in 20 Exchange since August and only have had amazing things to say about the experience so far. From the beginning when I walked into the space and saw the breathtaking views from the tower apartments I knew I wanted to apply.
I worked with Ruben from the leasing office and he was super helpful and very genuine. I didn’t feel like I was getting hassled or pressured during the whole process. I showed up with all the required paperwork/​documents and soon after was approved. It was an easy $ 95 application fee and there were no other hidden fees along the way.
After getting approved I was transferred over to management to schedule move in and freight elevator time. Everything was made very easy, you could even go online or use an app called building link to schedule your freight elevator for move in! I even used the buildings Concierge service, Abigail Michaels, to schedule a moving truck and help me with the whole moving process.
I was a little nervous because I was only given a 2 hour window for the elevator and had a lot to move but when the day came around i was happy that everything went so smoothly. DOORMEN ARE AMAZING! From the moment I walked in the door and picked up my keys they helped me through the whole process. My furniture company was even a little late and they still accommodated me.
The Maintenance staff is also great and have always granted all of my requests and repairs in 24 hours. I’ve lived in NYC for 12 years and have to say this has been my favorite apartment so far and I wont be leaving any time soon. I recommend 20 Exchange to everyone!!!

Update: I stand by my comments for earlier this year. Since the new management company came aboard this place is no longer the luxury building it once was. Given all the problems the residents now experience you would think they might be just a little accommodating — but that is not the case. They make excuses for everything and many times like to put the blame on the residents. Everyone is getting sick and tired of the excuses and the canned responses.
To make matters worse, the lounge is no longer available, the washing machines are often broken, it’s not as clean as it used to be and there’s no heat in the residential hallways, laundry rooms and other public areas.
So now the rooftop AND the lounge are no longer here for us to use. Mind you we are all paying**** for these accommodations. I NEVER*** would have signed my lease if I was told that these accommodations would not be available to me.
I tried to get someone to take over my lease — but this place has a terrible reputation and I couldn’t get anyone to take it, so I am stuck here until my lease ends.
Don’t rent here.
— — — — — — — — — — — — — — —
My first year living here was great. Then the new management company came without notice and without notifying everyone of the changes that would take place once they were here. We are paying for amenities we are not getting. The rooftop deck is closed for the entire summer. We should have been told that before we signed the lease and. or get it discounted out of our rent. The management company, FS Residential is dismissive and unaccommodating.
This place used to be a great place to live, but It’s all going downhill now. It’s noisy, dirty and there is construction going on all day. The previous management company took much better care of the place. They would vacuum the carpets a few times a week and shampoo them often. Now you go into the elevators or hallways and there are stains all over the floors.
I won’t be signing my lease next year. Not that they will care. I am sure they are doing all that construction so they can jack up the rent next year. All this management company cares about is that you pay the rent.
Not quite the luxury building I signed up for.

I have lived at 20 exchange for 3 years and had a great experience in the past. The new management company FS Residential, however, is a different story. The change happened overnight, with zero warning and now new requirements are in place for everything which are over the top and exorbitant to boot.
Application fees were increased from $ 95 to $ 250, with the excuse that it goes towards a «credit check». If $ 95 were enough in the past… why the $ 150 increase? Application times now take twice as long, from 1 week previously to 2.5 weeks now as FS residential outsources the work to a third party vendor (while charging us for the privilege for them to do not the work). Meanwhile, the third party vendor on-​site management drags their feet to do the most basic of checks like verifying employment (despite the applicant providing 3 payroll stubs as proof as part of the application).
Scheduling a freight elevator to move in is also now a ridiculous process. Previously, you just had to email to book a slot. Now, proof of insurance by the move in company is required, OR if you are moving something yourself — a hefty $ 1,000 check deposit is required, which is absolutely ridiculous.
Rent increases are also high — a 6 — 10% increase year over year.
There are also asbestos signs plastered all over the front door. I’m not sure if I should be worried about that…
I have enjoyed living here in the past, as the doormen are great, the apartments themselves are modern but with the new management company I will not be staying once my lease expires.