What types of apartments are available in Gramercy Park?

Gramercy Park offers a mix of prewar co-ops, converted townhouses, and a small number of luxury condos. The neighborhood is known for large prewar apartments with original details — herringbone floors, high ceilings, and classical facades. The few buildings facing the private Gramercy Park command significant premiums.

Who has access to Gramercy Park?

Gramercy Park is Manhattan's only private park, accessible only to residents of the approximately 383 buildings and townhouses surrounding it. Keyholders include residential tenants and owners of qualifying buildings. The Gramercy Park Hotel and the National Arts Club (on Gramercy Park South) also have limited key access.

What is the average price for an apartment near Gramercy Park?

Apartments with park-facing views or key access in the Gramercy Park Historic District typically run $1,500–$2,500 per square foot. Standard Gramercy and Kip's Bay apartments (without park access) average $800–$1,400 per square foot — among the more accessible entry points to a prime Manhattan address.

Is Gramercy Park a good neighborhood to buy in NYC?

Gramercy Park offers excellent value compared to the West Village, Tribeca, or Billionaires' Row. It's a quiet, residential neighborhood with strong commuter access via the 4/5/6/L lines, close to Union Square, the Flatiron District, and Midtown. Price appreciation has been steady but below the peak luxury neighborhoods.

Are there new condo buildings in Gramercy Park?

New development in Gramercy Park is very limited due to the historic district designation and built-out nature of the neighborhood. Most available inventory is in prewar buildings. The few new condos that have been developed tend to be boutique conversions of older commercial or residential buildings, typically with fewer than 20 units.

MANHATTAN NEIGHBORHOOD GUIDE

Gramercy Apartments for Sale: Park-Key Co-ops & Luxury Condos

Gramercy Park anchors one of Manhattan’s most private and architecturally protected enclaves — co-op-dominated, park-key-driven, and structurally constrained in new supply.

By Anthony Guerriero, Manhattan Miami Real Estate | Updated May 2026

Gramercy is one of Manhattan’s most architecturally cohesive and supply-constrained neighborhoods, anchored by the only private residential park in the city. Buyers target Gramercy for park-key co-ops, landmark townhouses, pre-war character, and a quiet residential posture distinct from the surrounding density of Union Square, Flatiron, and Murray Hill. From $800K co-ops on Irving Place to $15M+ park-fronting residences, Gramercy is a building-specific market where park-key access and historic district protections define pricing. See all Manhattan apartments for sale or request a confidential consultation.

GRAMERCY PARK

Gramercy Park Real Estate Map

Gramercy sits between East 14th and East 23rd Streets, bounded by Third Avenue on the east and Park Avenue South / Irving Place on the west — with the Irving Place corridor defining the southern west edge through the Gramercy Park frontage.

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Gramercy at a Glance

Boundaries14th to 23rd St, Park Ave South to Third Ave

ZIP Codes10003, 10010

Inventory MixPre-war co-ops (~65%), condos, townhouses

Median Sale Price~$1.55M

Avg Price / Sq Ft~$1,475

Distinguishing FeaturePrivate park-key access (15–20 buildings)

Gramercy Market Overview

Inventory. Gramercy is a low-inventory, building-specific market. The luxury depth comes from a small set of park-key co-ops, landmark conversions, and select new-development condominiums rather than a large, uniform stock base. Pricing can shift meaningfully depending on park-key access, historic district location, ceiling height, views, and building reputation.

Park-key premium. Residences in buildings with Gramercy Park key access trade at a structural premium. The scarcity is absolute — only 15–20 addresses hold keys, and new entrants are not possible. This creates a pricing floor and consistent demand from buyers who value privacy, exclusivity, and architectural heritage.

Co-op vs. condo dynamics. Gramercy’s co-op-heavy inventory creates friction for certain buyer types. International purchasers, pied-à-terre buyers, and investors typically focus on the limited condo inventory at Gramercy Square, 200 East 21st Street, and select boutique conversions. Long-term residency buyers can navigate co-op board approval for park-key access.

New development constraints. Historic district restrictions limit new construction. Most recent projects target the perimeter of the historic core rather than the park itself. This supply constraint supports long-term pricing stability in the core Gramercy submarket.

Building-by-building diligence. Gramercy pricing is not uniform. Buyers should compare park-key status, building reputation, monthly carrying costs, board policies, resale history, view exposure, and historic district protections — not only price per square foot.

Price Ranges by Property Type

Property Type	Typical Price Range
Studios	$700K–$1.2M
1-Bedroom	$1M–$2.2M
2-Bedroom	$1.8M–$4.5M
3-Bedroom	$3M–$8M
Park-Key / Penthouse	$6M–$20M+

Apartments with Gramercy Park key access command significant premiums — often 15–25% above comparable units without key privileges. Pricing varies by building, floor, view, outdoor space, and monthly carrying costs.

Notable Gramercy Buildings

Building	Address	Profile
18 Gramercy Park South	18 Gramercy Park S	Robert A.M. Stern landmark co-op, park key
50 Gramercy Park North	50 Gramercy Park N	John Pawson / Ian Schrager, park key
Gramercy Square (The Tower)	215 E 19th St	Woods Bagot new-development, 4-building complex
Gramercy by Starck	36 Gramercy Park E	Philippe Starck design condo
200 East 21st Street	200 E 21st St	Boutique luxury condominium
57 Irving Place	57 Irving Pl	Historic conversion
Zeckendorf Towers	1 Irving Pl	4-tower landmark complex
160 East 22nd Street	160 E 22nd St	Boutique condo
Tempo	300 E 23rd St	Full-service condo, Gramercy edge
Coda	385 First Ave	Full-service condo, Gramercy edge

Gramercy Lifestyle & Character

Park-key exclusivity. Gramercy Park is one of two private residential parks in the United States. Keys are issued only to residents of the 15–20 buildings directly fronting the park. Access is tied to the apartment, not the owner, and keys are physically replaced annually. This structural scarcity drives a measurable pricing premium of 15–25% over comparable non-key inventory.

Historic district protection. The Gramercy Park Historic District preserves Italianate row houses, Greek Revival townhouses, and pre-war co-ops at scale. New development is structurally constrained, limiting supply growth and supporting long-term value.

Co-op dominance. Approximately 65% of Gramercy inventory is cooperative, concentrated in pre-war buildings on Gramercy Park North, South, East, West, and Irving Place. International buyers and pied-à-terre purchasers typically focus on the limited condo inventory.

Family appeal. PS 40 (Augustus St. Gaudens School) is the zoned public elementary and a top-rated family-buyer draw. Friends Seminary sits directly on Stuyvesant Square. The private park, low-traffic streets, and residential character make Gramercy one of downtown Manhattan’s strongest family neighborhoods.

Gramercy vs Adjacent Markets

Gramercy sits at the intersection of several Manhattan submarkets. Buyers comparing Gramercy usually weigh it against three or four neighboring areas with overlapping but distinct profiles.

Gramercy vs Flatiron

Flatiron is broader, more commercial, and more park-adjacent to Madison Square Park. Gramercy is quieter, more residential, and architecturally protected by historic district designation. Gramercy offers park-key exclusivity; Flatiron offers more newer-construction condo inventory and lifestyle retail.

Gramercy vs Murray Hill

Murray Hill is denser, more office-adjacent, and has a larger share of rental conversions and midcentury co-ops. Gramercy commands higher PSF due to park-key buildings, historic district protections, and lower density. Murray Hill offers more accessible pricing and larger layouts for younger buyers.

Gramercy vs Union Square / NoMad

Union Square is transit-rich and retail-heavy but noisier and less residential. NoMad is newer-construction and branded-residence focused. Gramercy offers pre-war character, co-op stability, and a quiet residential posture that neither neighbor matches.