< All Press

The Fancy New Building On Gramercy Park Is Already Half Sold

Contracts were signed on six apartments at under-construction 18 Gramercy Park last week, all above $14.5 million, according to The Olshan Luxury Market Report.

The 16-unit luxury condominium is being developed by Zeckendorf Realty, which is the same company behind 15 Central Park West and 515 Park Avenue.

The building also made news earlier this month when the penthouse sold for $42 million to Houston Rockets owner Leslie Alexander. The duplex penthouse spans 6,300 square feet, with 2,000 square feet of outdoor space, and is the most expensive sale ever recorded south of 59th Street, appraiser Jonathan Miller recently told The Wall Street Journal.

Eight apartments in the building are under contract, all to American buyers, the WSJ reported.

What makes 18 Gramercy Park so great? The building has a famous Gramercy address, boasts large units, a spa and fitness center, and has doormen and concierge services. Buyers also get a highly coveted key to the private park it overlooks.

Each residence in the building takes up a full floor and measures around 4,200 square feet, except for the penthouse apartment, which spans two floors.

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
Joined October 2007