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Manhattan
Gramercy Park
"Stable" is the word most often used to describe Gramercy's real estate. And if area homeowners aren't lucky (read: rich) enough to own a key to Gramercy Park -- Manhattan's only private park -- then at least they can congratulate themselves on making a wise investment.
Gramercy, which sits within striking distance of more happening downtown nabes as well as Midtown, has everything from charming brownstones to boxy post-war behemoths. To the north, large rental buildings draw a vanilla crowd of recent college grads; prices rise the closer you get to the park but fall as you head east toward the Queens-Midtown Tunnel. The ornate single-family homes along the park are among the city's finest addresses. However, like elsewhere in Manhattan, new construction is challenging the status quo. At 50 Gramercy Park North, Ian Schrager's condos at the Gramercy Park Hotel, modern luxury and hotel conveniences are offered -- along with that coveted park key -- and prices, naturally, reach more than $3,000 a square foot. Elsewhere in the neighborhood, more attainable new construction can be found on a decidedly unsexy block of 23rd St. between First and Second avenues: Gramercy -- a 207-unit condo designed, inside and out, by Phillipe Starck -- offers modern apartments for about $1,200 a square foot.GRAMERCY
$1.7 MILLION
June 26, 2008 -
Bedrooms: 2 Bathrooms: 2 Square feet: 1,224 Common charges: $456 -- You'll feel like anything but a prisoner in this Second Avenue duplex condo that was "fully renovated" in 2007...more >
GRAMERCY PARK
$6.975 MILLION
June 26, 2008 -
When Ian Schrager recently remade the Gramercy Park Hotel, he knew that plenty of people would want to live there. So he created the condo residences at 50 Gramercy Park North, where you'll...more >
NEW YORKERS DEAL WITH THE CRUNCH
May 15, 2008 -
FEEL THE CRUNCH In recent years, New York real estate could for the most part be summed up thusly: Person buys apartment, person sees apartment's value go through the roof, person sells...more >
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