Gramercy Park Block Association - Neighborhood News #374 

June 7, 2013
Big Ticket | Park Perks for $15.27 Million  
Suzanne DeChillo/The New York Times 

In a repeat of last week's performance, the exacting renovation and restoration at the historic 18 Gramercy Park South by Zeckendorf Development and Robert A. M. Stern recorded its second closing - No. 5, another floor-through condominium, which sold for $15,273,750 - in a sale that was the most expensive of the week, according to city records.


The previous week's top sale was No. 9, covering the ninth floor, for $16,575,000.


This residence also encompasses 4,207 square feet and provides direct views of idyllic Gramercy Park, the only private park in Manhattan. As a closing gift to all of its buyers, Zeckendorf Development provides a free key to the park for the first year, a unique and popular perk that, although its actual worth is a mere $350, conveys an extra dose of prestige to occupants of Gramercy Park's tallest building. Monthly carrying charges for the apartment, on the fifth floor, are $11,225.31.


The home has a keyed elevator entrance onto a large gallery, and the living room offers 40 feet of frontage on the park. Floors are of white oak, and the windows have marble sills. The master suite has his-and-hers marble baths, and the three other bedrooms all include en-suite baths. The cabinetry in the windowed eat-in kitchen is by Smallbone of Devizes, and the appliances are the usual suspects found in aspirational kitchens: Sub-Zero, Wolf and Miele.

According to representatives of the developer, 8 of the 16 available units, including the $42 million penthouse, are in contract, and 3 more are pending contract. All of the residences, designed with a balance of prewar comfort (spacious rooms and oversize windows) and up-to-the-minute technology, have sold for their full listing price.

The anonymous buyer of No. 5 used a Washington-based limited-liability company, Chai Landing, and the sponsor unit was represented by Zeckendorf Marketing.

Big Ticket includes closed sales from the previous week, ending Wednesday.


A version of this article appeared in print on 06/09/2013, on page RE2 of the NewYork edition with the headline: Park Perks and Views.