CODA: One-Bedroom Condos in Gramercy Starting Under $1 Million

By CityRealty Staff | From Future New York Friday, August 4, 2017

CODA, exterior and common terrace (Magnum Real Estate / GKV Architects)

CODA literally means the triumphant finale of of a musical piece or movement. But as they say, every end is a new beginning, and the reimagined Gramercy Park condo bearing the musical name presents buyers an exciting opportunity to end renting and own an affordably-priced condo in lower Manhattan at similarly affordable carrying costs. Availabilities in the building begin under a million for a one-bedroom and two-bedrooms start at $1.595 million.

“The biggest thing in America is home ownership, and as interest rates are very low, you could own a unit here and pay the same out-of-pocket costs as your current rent” —Ben Shaoul

Altogether, CODA’s newly-renovated condos are priced at an average of $1,587 per ft² — well below Manhattan’s new construction condo average of $2,248 a foot and even less than Gramercy Park’s $1,647 average. Ben Shaoul, head of Magnum Real Estate Group, spearheaded the overhaul of the 2003 building, seeing an opportunity to bring to market condos priced well below the 2,000-a-foot range. “The biggest thing in America is home ownership, and as interest rates are very low, you could own a unit here and pay the same out-of-pocket costs as your current rent,” Shaoul told the Post in 2004.

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Presently, the building has a one-bedroom condo available for $995K —the lowest asking price in for a one-bed condo in Gramercy. That unit spans a roomy 733 square feet and is located at the southeast corner of the building providing tree-filled views over the avenue. The home has a nearly 19-foot long living area — well-suited for both a dining and entertaining spaces. The open layout is bathed with morning light via operable floor-to-ceiling windows — and like all Coda’s homes, there is a chef’s kitchen, ample closet space, and a washer and dryer.

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Interiors were refined by D’Apostrophe Design and are said to blend clean, modern lines with natural elements to attain aesthetic balance. Kitchens have lacquered white cabinetry complemented by Sub-Zero and Bosch appliances. Residences also feature individual climate control, European Oak flooring and marble baths with Waterworks fixtures.

#3G: One-Bedroom for $995K (Magnum / Corcoran)

Other currently available apartments in CODA:

#8E - 2 bed / 2 bath | 1,235 ft² | $1.89 million

#14B - 2 bed / 2 bath | 1,190 ft² | $1.845 million

#3B - 2 bed / 2 bath | 1,190 ft² | $1.595 million

#17H - 1 bed / 1 bath | 736 ft² | $1.23 million

#10G - 1 bed / 1 bath | 729 ft² | $1.205 million

#4A - 1 bed / 1 bath | 770 ft² | $1.08 million

Coda rises 21 stories from the corner of East 23rd Street and First Avenue and is within walking distance to the nightlife of the East Village, the tech offices of “Silicon Alley,” and the bioscience corridor taking shape along the East River. Its contemporary exterior was conceived by GKV Architects, who are responsible for the beautiful reinvention of the Beekman Hotel & Tower and TEN23 at the opposite end of 23rd Street. CODA is faced with an innovative concrete façade that forms the exterior columns and frames a collage of large windows.

Amenities in the building include a 24-hour attended lobby, live-in super, private fitness room programmed by The Wright Fit, residents’ lounge, private storage, landscaped resident’s terrace with grill, and a fully furnished and landscaped roof deck. The building is one block from the East River esplanade which provides an endless path for jogging and biking and far-reaching views of the city.

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