Downtown sales start.

Luxury condominium sales are to begin at The Downtown Club, an Art Deco landmarked building at 20 West St. that formerly served as the headquarters of the Downtown Athletic Club and the home of the mythic Heisman Trophy.

Under development by The Moinian Group, the 288 studio, one-bedroom and penthouse residences, some with home offices and lofts, are priced from $475,000 to over $1.65 million. Occupancy is scheduled for late summer/early fall.

"This is a rare opportunity for someone to own a Manhattan residence for under $500,000," said Joseph Moinian, CEO of The Moinian Group.

This is the firm's first condominium development in the downtown market where it is the largest private property owner and has converted many commercial buildings to rental apartments.

"Not only are we giving prospective buyers the opportunity to 'live where the Heisman lived,' but the space itself is quite luxurious, yet affordable," said Richard Cantor, principal of Cantor & Pecorella, the exclusive marketing and sales firm. I

The most unique amenity of The Downtown Club will be The Trophy Club, an "extreme" 12,000 s/f spa and health club on two contiguous floors with a landscaped sun deck.

Other special Trophy Club features include a professional 20-seat screening room where residents can hold movie nights and special events; a two-level lounge with a bar (BYOB), billiard table and wireless Internet access.

On weekdays, complimentary continental breakfast will be served on the upper level of the lounge, which overlooks the health club.

Moinian is currently in negotiation with a prime restaurant tenant for the ground-floor retail space.