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In Contract

50 Gramercy Park North, #2A

$2,595,000 ($1,078 per ft2) -5.6% | 2 beds, 3 baths | Approx. 2,407 ft2
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240 days on Market

Key Details

  • Listed: Aug 31, 2023
    Last Price Change: -5.6% ($155,000) on Oct 18
    Days on Market: 240
    Building Type: Condop
    Neighborhood: Gramercy Park (Manhattan)
    Doorman: FT Doorman
    Listing viewed 268 times
Monthly Maintenance: $11,984 ($4.98/ft2)
Est. Monthly Mortgage: $14,331
Total Est. Monthly Carrying Cost: $26,315 ($10.93/ft2)
Note: the above is based on a down payment of 20% ($519,000), which is the minimum amount permitted by the building.

Insider Highlights

  • Prime Location: This large 2 bedroom, 3 bathroom apartment is located in the highly sought-after Gramercy Park neighborhood, with exclusive access to the private Gramercy Park, and is in close proximity to the 4, 5, and 6 subway lines.
  • Luxurious Living Space: The apartment boasts over 2,400 sqft of space, featuring floor to ceiling windows with park views, a fully equipped kitchen with Subzero refrigerator and Miele appliances, and a primary suite with a separate sitting room or office, two walk-in closets, and a spa-like bathroom.
  • Outdoor Amenities: The property includes an expansive 1,000+ sqft private terrace and access to outdoor entertainment spaces.
  • Building Amenities: The building offers a full-time doorman/concierge, onsite parking/valet, lounge, event room, business center, laundry facility, housekeeping service, butler service, personal shopping, pet walking, private storage, and access to the Gramercy Park Hotel's David Barton fitness center.
  • Exclusive Services: Residents can enjoy room service from Danny Meyers renowned trattoria, Maialino.
  • Architectural Significance: The building has a rich history and was designed by acclaimed British architect, John Pawson. It is a co-op building with condo rules, welcoming pied-a-terres and investors.

Description

Wall Street Journal 8/24/2023: “New York’s Famous Gramercy Park Hotel to Reopen After Renovations.” Maialino by Danny Meyer as well. Mint 2 bed on Gramercy Park with expansive 1,000+ sqft private terrace and key to the park. Upon entering over 40 feet of floor to ceiling windows showcase views of Gramercy Park. This large living area offers space for defined dining, living and library areas.

The fully equipped kitchen with Subzero refrigerator, Miele appliances and 5 burner stove opens to a breakfast bar and has park views. As you go down the bedroom wing you pass the powder room and the ensuite second bedroom. At the end of the hall is the sprawling primary suite which has a separate sitting room or ideal office. The tranquil primary bedroom itself has room for an additional sitting area and a door that leads out to the 1,074 sqft private terrace.

Two walk in closets on the way to the spa like bathroom with steam shower, separate soaking tub, water closet and access to the private terrace. The sprawling private terrace has plenty of space for dining under the pergola, sitting area with sofa and chairs for relaxation and cocktails. Washer/dryer in the apartment. Additional $1,072/month outdoor terrace license fee. Two private storage bins. Current monthly assessment for capital improvements of $3,551.

This property was originally built in 1924 by Bing & Bing as the Gramercy Park Hotel at 2 Lexington Avenue and was designed by Robert T. Lyons. 50 Gramercy Park North overlooks Gramercy Park, a private park open only to residents of buildings facing it. An intimate building with just 17 stories and 21 units, residents enjoy a key to Gramercy Park, a 24/7 doorman, close proximity to the 4, 5, and 6 subway lines.

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Apartment Amenities

  • Terrace
  • Washer/Dryer in apt.

Listing Agent (Seller's Representative)

Listing courtesy of Sothebys International Realty

Pricing History

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About 50 Gramercy Park North

89

50 Gramercy Park North has received a CityRealty Rating of 89, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

25
Out of 44
+
29
Out of 36
+
25
Out of 39
+
10
=
89
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Distinguished 6 out of 8 points
Retail Quality:
None 2 out of 5 points
Canopy Entrance:
Attractive 2 out of 3 points
Alterations:
Well Done 1 out of 2 points
Plaza Or Atrium:
None 0 out of 3 points
Contextual Design:
No, but Very Good 3 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Attractively Enclosed 2 out of 2 points
Airconditioners:
Not Allowed 2 out of 2 points
Free Standing:
No 0 out of 2 points
Gargoyles:
None 0 out of 2 points
Garden:
None 0 out of 2 points
Fenestration:
Consistent 1 out of 1 points
Landmark:
Part of Historic District 1 out of 2 points
Unity:
Unified Design 1 out of 1 points
Illumination:
None 0 out of 1 points
Water Element:
None 0 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Outstanding 5 out of 5 points
Distance To Neighborhood Center:
Less than 40 blocks 2 out of 5 points
Views:
Impressive 3 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
Very Little 3 out of 3 points
Protected Views:
Many 2 out of 2 points
Distance To Subway:
Less than 3 Short Blocks 2 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
Less than 3 Short Blocks 2 out of 2 points
Distance To Park:
Less Than 3 Short Blocks 2 out of 2 points
Distance To Water:
More than 6 Short Blocks 0 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
Some 0 out of 1 points

Features Rating: Points Breakdown

Lobby:
Spacious 4 out of 5 points
Units Per Floor:
2 4 out of 5 points
Ceiling:
11-14 Feet 3 out of 4 points
Balconies:
None 0 out of 3 points
Health Club:
Yes 1 out of 2 points
Private Gardens:
Substantial 2 out of 2 points
Storage Rooms:
Considerable 2 out of 2 points
Bay Windows:
None 0 out of 1 points
Fireplaces:
Some 1 out of 1 points
Door Person:
Yes 1 out of 1 points
Concierge:
Yes 1 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
Yes 1 out of 1 points
Driveway:
None 0 out of 1 points
Maids Room:
None 0 out of 1 points
Catering:
Some 1 out of 1 points
Garage:
None 0 out of 1 points
Mixed Use:
Yes 1 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
Some 1 out of 1 points
Prewar:
No 0 out of 1 points
Other Amenities:
Many 2 out of 2 points

Building Amenities

  • Conversion Year: 2006
  • Attended Lobby
  • Concierge
  • FT Doorman
  • Post War
  • Resident Storage
  • Central AC
  • Rooftop Terrace
  • Washer/Dryer in building
  • Elevator
  • Business Center
  • Event Room
  • Lounge
  • Fitness Center
  • Rooftop Terrace
  • On-Site Parking
  • Outdoor Entertainment Space
  • Fireplaces
  • Terraces / Balconies

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Pros
  • Overlooks Gramercy Park
  • Few units
  • Full service building
  • High ceilings
  • Fireplaces
  • Extravagant hotel lobby
  • Rooftop club
  • Concierge
  • Doorman
  • Includes key to Gramercy Park
  • Close to Subway
Cons
  • No balconies
  • Some nightlife noise from very popular hotel
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Subways

  1. 6
at Park Ave 0.09 miles
  1. N
  2. R
at Broadway 0.25 miles
  1. Q
  2. 4
  3. 5
  4. L
at Broadway and 16th 0.31 miles
  1. M
  2. F
at 6th Ave 0.46 miles

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