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Gramercy Park Hotel, 50 Gramercy Park North

between Park Avenue South & Lexington Avenue   |    Gramercy Park

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Key Details

  • Condop
  • Built in 1924
  • 23 Apartments
  • 17 Floors
  • Size From # avail
  • 2 Beds $4,275,000 1
  • 3 Beds $8,250,000 2
  • 4 Beds $9,000,000 1
  • Last updated Nov 17, 2017
  • View apartments for sale
$2,196 Avg. Price / Ft2
$91 Avg. Price / Ft2
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Overview

89

Gramercy Park Hotel, 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
    How was this building rated?

    In late 2004, numerous older hotel properties in the city in prime locations began to be converted to luxury condominium apartments to take advantage of a very, very strong market for such units.

    Some of these projects involved total conversion such as the former Intercontinental Hotels on Central Park South and on Lexington Avenue at 48th Street and the former Stanhope Hotel on Fifth Avenue at 81st Street; others involved partial conversions such as this property and the Plaza and St. Regis Hotels on Fifth Avenue; and demolition, such as the Mayflower Hotel, whose lot is now occupied by 15 Central Park West.

    This property was erected by Bing & Bing as the Gramercy Park Hotel at 2 Lexington Avenue in 1925 and was designed by Robert T. Lyons.

    It replaced a house belonging to Stanford White, the famous architect that had replaced a house in which Edith Wharton, the novelist, was born. In 1930, Thompson & Churchill designed an expansion along 21st Street.

    Overlooking Gramercy Park, which is private and locked and open only to residents of buildings facing it, the property has an interesting history as the residence of famous writers such as S. J. Perelman, Edmund Wilson and Mary McCarthy, and as the site of Humphrey Bogart's wedding in 1926 and of a several-month-stay shortly after it opened by Joseph P. Kennedy and his family including the 11-year-old John F. Kennedy, Jr. Babe Ruth often drank at the hotel's bar.

    The developers of this project are Ian Schrager, a founding partner of Studio 54, the legendary disco, and subsequently of the Morgans Hotel Group, and Aby Rosen, a real estate investor whose portfolio includes the Seagram's and Lever House buildings on Park Avenue.

    The residential section of the project, which includes about 180 hotel rooms, has 23 condominium apartments, many with 18-foot-high ceilings, and a key to the park.

    The apartments ranged in price initially from about $3.75 million to $20 million and were designed...

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    Apts For sale AT 50 Gramercy Park North (4)

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    Apts For rent AT 50 Gramercy Park North (1)

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    Nearby Subway Stations

    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

    Carter Horsley's Review

    Gramercy Park Hotel, 50 Gramercy Park North Carter Horsley's Building Review
    "In late 2004, numerous older hotel properties in the city in prime locations began to be converted to luxury condominium apartments to take advantage of a very, very strong market for such units." Read Carter's Full Review

    The pros & cons

    Pros
    • Overlooks Gramercy Park
    • Extravagant hotel lobby
    • Close to Subway
    • Fireplaces
    • Includes key to Gramercy Park
    • High ceilings
    • Doorman
    • Full service building
    • Concierge
    • Few units
    • Rooftop club
    Cons
    • Some nightlife noise from very popular hotel
    • No balconies
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    Famous Residents at Gramercy Park Hotel, 50 Gramercy Park North

     

    Pricing Comparison of Similar Buildings

    View Detailed Comparison

    Gramercy Park Hotel, 50 Gramercy Park North - 10 year Sales History

    View Full Sales History
     

    Gramercy Park Hotel, 50 Gramercy Park North Alternate Address

    • 2 Lexington Ave

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    In the Neighborhood: What’s Available & Sales Stats

    Not enough data available to generate chart.
    • 202 Available for Sale
    • $2,065 Avg. Price / Ft2
    • $3,074,701 Avg. Price
    • $2,137,500 Median Price
    1. Most Expensive 18 Gramercy Park South Apt PH | $46,500,000
      Price / ft2 $7,347
    2. Least Expensive The Foundry Apt 7D | $525,000
    Not enough data available to generate chart.
    • 52 Available for Rent
    • $73 Avg. Price / Ft2
    • $6,458 Avg. Price
    • $4,725 Median Price
    1. Most Expensive Gramercy Park Hotel Apt 15AB | $29,000
      Price / ft2 $91
    2. Least Expensive The Foundry Apt 3E | $2,450

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    cityrealty insider access Interested in
    off-market listings at
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