Construction progress as of August 2025
Away from the subway and close to the morgue, lower Manhattan's far east side is home to a treasure trove of overlooked gems and under-the-radar blocks that might even leave the most jaded Knickerbocker scratching their head. On East 18th Street, just off First Avenue, three landmarked Italianate-style houses stand as some of the neighborhood's oldest survivors. Built in 1853 by descendants of Peter Stuyvesant, the one-legged autocrat who once ruled over his vast Great Bouwerie farm, these brick-faced homes offer a dash of New Orleans charm with their low profiles, deep front yards, and elegant ironwork gracing shallow porches.
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These landmarked 1850s rowhouses at 326-330 East 18th Street were built by descendents of Peter Stuyvesant and are among the oldest in the area
Countering this antebellum charm, across idyllic First Avenue, is the formidable 110-building Stuyvesant Tower-Peter Cooper Village, sporting its signature aesthetic of mid-20th-century monotony. Despite the visual severity, its altruistic values endure. Conceived as a community for returning veterans of World War II, the 11,250-unit complex remains a national park to the threatened species, the middle-class New Yorker. Over the decades, the complex has birthed notable residents like Pulitzer Prize-winner Frank McCourt (Angela's Ashes), New York Times opinion columnist David Brooks, former councilman and 'City of Yes' captain Dan Garodnick, and actor Paul Reiser.
In this puzzling decade of the 21st century, a new upscale condo building is trying to navigate the contradictory realities of New York life, realities fewer of us can afford to be confused by. Even the hospitals of "Bed Pan Alley" aren’t immune, as Mount Sinai Beth Israel Medical Center has shuttered its Gramercy campus. While local conspiracy theorists suspect this has been a real estate land grab from the start, we're pretty sure they're onto something.
Evidently, Manhattan has been ignoring NIMBYs for centuries.
The site of 350 East 18th Street in April 2024
305 First Avenue / 350 East 18th Street (Minrav/SLCE Architects)
As CityRealty is a real estate company, we'll finally get to the point. A small cluster of walk-up buildings at 350 East 18th Street and the southwest corner of First, which most recently held Beth Israel's Karpas Health Information Center has given way to a 13-story condominium building with 54 units. The four-building site was sold to Minrav Development in early 2020, who made quick work reducing the buildings to rubble.
Permits were filed and approved in 2021 to build a slick new condo building designed by SLCE Architects. Initial renderings depicted a contemporary structure channeling the timeless character of an office park. Renderings by ARC Architecture + Design Studio convey a design that is as beautifully confused as the city itself: A concoction of Art Deco, Moderne, and Japanese traditional design (Shoin-zukuri /Shinto chic), neatly packaged into a near zoning envelope.
More recently, the construction shroud has come down, revealing how the finished exterior compares to the artist's renderings. The design appears to hold up and is arguably one of the best-looking contemporary buildings on First Avenue, though there isn’t much competition. A registration site and banners now announce that the building has been named The Florian, a name of Latin origin meaning “flowering” or “flourishing,” and also associated with elegance and cultural heritage, as in Venice’s historic Caffè Florian. Douglas Elliman will lead sales for the one- to three-bedroom condominiums located three avenues east of Gramercy Park.
There will be between two and six residences per floor with the penthouse apartments having large terraces and private hot tubs. Residential amentieis include bike parking, lounge, pet spa, fitness center, resident's storage, and 11 on-site parking space
There will be between two and six residences per floor with the penthouse apartments having large terraces and private hot tubs. Residential amentieis include bike parking, lounge, pet spa, fitness center, resident's storage, and 11 on-site parking space
August 2025 (CityRealty)
"We built a new landmark.
You found it here first." – The Florian
You found it here first." – The Florian
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Besides the penthouses, many homes will have private outdoor space and corner homes will have curved exposures, giving the building a faint resemblance to The Normandy, a streamlined Emery Roth design on the Upper West Side.
The high-end condo market of Gramercy has been booming as of late as 200E20th several blocks west is over 70% sold, and nearby 250 East 21st Street quickly sold out of sponsor units in early 2024. The next large batch of apartments will likely come from the redevelopment of Beth Israel Hospital whose blocks of buildings fronting Stuyvesant Square sit eerily quiet since the hospital's closure.
In addition to easy access other medical facilities up First Avenue, the site is close to countless restaurants and bars in the East Village, Stuyvesant Square Park, and the charming fountain and park at the heart of Stuyvesant Town. The nearby East River waterfront is undergoing coastal resiliency improvements and has already debuted some of the upgraded parkland. The First Avenue L train station is a short walk south, with several crosstown and uptown bus routes nearby, plus a new ferry landing at East 20th Street on the East River.
In addition to easy access other medical facilities up First Avenue, the site is close to countless restaurants and bars in the East Village, Stuyvesant Square Park, and the charming fountain and park at the heart of Stuyvesant Town. The nearby East River waterfront is undergoing coastal resiliency improvements and has already debuted some of the upgraded parkland. The First Avenue L train station is a short walk south, with several crosstown and uptown bus routes nearby, plus a new ferry landing at East 20th Street on the East River.
Nearby Gramercy-Kips Bay Listings
240 East 24th Street, #4B (Corcoran Group)
Coda Condominium, #3H (Brown Harris Stevens Residential Sales LLC)
Tempo, #19B (Cooper & Cooper Real Estate LLC)
Hendrix House, #11A (ONE REALTY GLOBAL CORP)
The Boutique at Gramercy Square, #6
$5,995,000
Gramercy Park | Condominium | 4 Bedrooms, 4.5 Baths | 3,378 ft2
The Boutique at Gramercy Square, #6 (Douglas Elliman Real Estate)
200E20th, #PHA (Douglas Elliman Real Estate)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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