1 Lexington Avenue (49 Gramercy Park North)
1 Lexington Avenue, New York, NY 10010
BBL 1008770022 · BIN 1017991
- Year built
- 1910
- Type
- Cooperative
- Units
- 27
- Floors
- 12
- Landmark status
- Requires confirmation
- City records and our profile differ. Confirm with building management.
- Pied-à-terre
- Not permitted
- Dogs and cats
- Permitted with conditions
- Washer/dryer
- Permitted
- Maximum financing
- 65% of the purchase price
- Flip tax
- Tiered or formula; see fees
- Doorman
- Full-time doorman
1 Lexington Avenue (49 Gramercy Park North) sales history: 35 recorded transfers
Every recorded sale at this building, 2004–2025
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 3BR median, 2023–2025
- $2.5M
- 2 qualifying sales
- Recent range
- $2M – $5.9M
- Listing discount
- 6.7%
- Recorded transfers
- 35
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 1 Lexington Avenue (49 Gramercy Park North) would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
1 Lexington Avenue is one of the small handful of full-service prewar cooperatives that actually front Gramercy Park — and that distinction is the entire point. Gramercy Park is private and locked, and only the roughly three dozen buildings around its perimeter confer a key. This building sits at the park's northeast corner, where Lexington Avenue is born at East 21st Street, on the site of the former home of Cyrus West Field, who laid the first transatlantic cable. Herbert Lucas designed the building in 1910, and it is widely read as the sister of 24 Gramercy Park South, which Lucas designed in a closely related idiom — the two share a portico-and-balcony vocabulary that gives the park's edge much of its early-twentieth-century dignity.
What buyers respond to here is a combination that is genuinely scarce: a park key, a refined neo-Renaissance facade inside a protected historic district, and apartments that began life as very large prewar layouts. Because the building opened with only twelve apartments and was later reconfigured to twenty-seven, the unit mix is generous in scale and idiosyncratic in plan, with a high proportion of duplexes and apartments retaining wood-burning fireplaces and windowed kitchens. This is not a building of identical white-brick lines; it is a building of distinct, often grand, individually shaped homes.
The address has long attracted creative and culinary New York. Residents have included Uma Thurman, Winona Ryder, and the restaurateur Danny Meyer, whose Union Square and Madison Square ventures helped define the surrounding neighborhood's modern dining culture. That gravitational pull toward a discreet, established clientele is consistent with the building's posture — quiet, full-service, and serious about the park it overlooks.
Architecture and unit composition
Lucas's design is a careful exercise in early-twentieth-century classicism. A two-story stone base anchors the building; above it, deep red-brown brick is laid in Flemish bond, with voluted stone keystones over the windows and carved fruit garlands above a colonnaded, balustraded Tuscan portico. Cast-iron balconies ride on stone console brackets, and a high cast-iron perimeter fence completes the composition at street level. The whole reads as a townhouse-scaled apartment house — the architecture of a private home, multiplied.
Inside, the apartments reflect the building's reconfiguration history. The original twelve apartments were exceptionally large; the present twenty-seven include many duplexes and layouts that retain prewar bones — high ceilings, wood-burning fireplaces, separate service areas, and windowed kitchens. Park-facing residences look directly onto Gramercy's planes and London plane trees; rear and side exposures gain quiet and light over the protected low-rise blocks of the historic district.
Building operations
The cooperative runs as a full-service building: a full-time doorman and concierge, an attended wood-paneled elevator with an operator, a marble lobby, a live-in resident manager, central laundry, and bicycle storage. The board permits financing up to 65% of the purchase price and applies a 2% flip tax to shareholders who sell within five years of acquiring their apartment. Pets are welcome and in-unit washer/dryers are permitted; pieds-à-terre are not allowed, consistent with the building's primary-residence character. The building's location inside the Gramercy Park Historic District means exterior work is subject to Landmarks review, which protects the facade and the streetwall but adds process to any visible alteration.
Application and transaction fees
Fees below are from building management's published schedule, as of August 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
- Terms
- 2% of purchase price (all sellers who sell their apartment within 5 years from their date of purchase)
- Paid by
- Seller
Source: building management's published schedule, as of August 2026
Purchase
10 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeeConditional | Paid by Buyer | When With the application | Amount $600 or $1,000 (Trust Purchase - if permitted by Corporation) | Refundable Not stated |
| Application Processing Fee for Co-applicant or GuarantorPer applicant | Paid by Buyer | When With the application | Amount $250 per Co-applicant/ Guarantor | Refundable Not stated |
| Move in Fee | Paid by Buyer | When With the application | Amount $1,000 | Refundable Non-refundable |
| Lead Based Paint Disclosure Fee | Paid by Seller | When With the application | Amount $75 | Refundable Not stated |
| Move out Fee | Paid by Seller | When With the application | Amount $1,000 | Refundable Non-refundable |
| Financing FeeConditional | Paid by Buyer | When At closing | Amount $300 (if financing) | Refundable Not stated |
| Closing FeePer share | Paid by Seller | When At closing | Amount $800 ($850 without a Broker) plus $0.05 per Share | Refundable Not stated |
| Sale by an Estate or Trust - Closing FeePer share | Paid by Seller | When At closing | Amount $1,000 plus $0.05 per share | Refundable Not stated |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move In Deposit | Paid by Buyer | When With the application | Amount $5,000 | Refundable Refundable |
| Move Out Deposit | Paid by Seller | When With the application | Amount $5,000 | Refundable Refundable |
Refinance
1 item
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Shareholder | When With the application | Amount $400 | Refundable Not stated |
Ownership transfer
1 item
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Transfer Fee | Paid by Shareholder | When With the application | Amount Contact Transfer Agent for fee schedule | Refundable Not stated |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Financing and purchase requirements
- Maximum financing
- 65% of the purchase priceSource: building management's published schedule, as of August 2026
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Not verified
- Pied-à-terre ownership
- Not permittedSource: The Roebling Team's building profile
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Pets and in-unit washer/dryer
- Dogs and cats
- Permitted with conditionsDogs and cats are allowed.Source: building management's published schedule, as of August 2026
- In-unit washer/dryer
- PermittedSource: The Roebling Team's building profile
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $914 per room a monthMedian of 3 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: The Roebling Team's building profile
- Live-in superintendent
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
- Amenities noted
- Bike storage, laundry roomSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $27,979/yr
- Per unit / month range
- $0 – $83
- Modeled exposure split equally across 28 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. A filed Safe grade is not a guarantee of current condition: owners still maintain the facade and, where required, observe parapets each year. Future inspection timing (Local Law 49 of 2025 changed the cycle framework from October 1, 2026), repair and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City data last refreshed October 2026.
Management & transfer contacts
- Flip tax
- 2% of purchase price, paid by Seller (sales within first 5 years of ownership)
- Policies and fees
- Max financing 65% of purchase price/appraised value
Recent sales
Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Nov 13, 2025 | 1 | 3 BR · 2 BA | $1,995,000 | -6.1% | |
| Nov 7, 2025 | 5A | 5 BR · 4 BA · 3,582 sf | $5,900,000 | $1,647/sf | -21.3% |
| Jul 29, 2025 | 3B | 2 BR · 1.5 BA · 1,400 sf | $3,150,000 | $2,250/sf | -7.2% |
| Jul 17, 2023 | 3 | 3 BR · 2 BA | $3,025,000 | -4.0% | |
| Jun 2, 2022 | 9D | 2 BR · 1 BA | $1,585,000 | -6.2% | |
| Jan 19, 2022 | 3B | 2 BR · 1.5 BA | $2,665,000 | -14.0% | |
| Mar 18, 2019 | 9D | 2 BR · 1 BA | $1,395,000 | -10.0% | |
| Oct 23, 2018 | 5 | 4 BR · 2.5 BA | $7,600,000 | -14.6% |
Market read. Most recent trades (2025) cleared a median $1,949/sf (recorded) across 2 sales. Median listing discount 6.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Apr 13, 2006 | 10 | $1,650,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00877-0022). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.
What would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at 1 Lexington Avenue (49 Gramercy Park North) and nearby.
At the recent median sale of $3.15M (3 transfers in the past 24 months, since October 31, 2024), a buyer putting 35% down would pay about $61,800 to close, or 2.0% of the price.
- Mansion tax: $47,250
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $14,550
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage at the building's 65% financing limit.
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What to know if you’re buying
The park key is the asset. A key to Gramercy Park accompanies ownership, and it is the single feature that separates this building from otherwise comparable prewar co-ops a few blocks away. Value it accordingly.
Underwrite to a primary-residence board. Financing is capped at 65%, pieds-à-terre are not permitted, and the building is plainly oriented toward owners who will live there. Investors and part-time buyers should look elsewhere; primary-residence buyers will find a cooperative that protects exactly that profile.
Budget the flip tax if you may sell early. A 2% flip tax applies to sales within five years of purchase. If your horizon is short, model that cost into your return.
Expect prewar individuality. Layouts vary widely because the building was reconfigured from twelve apartments to twenty-seven. Walk each unit on its own terms — duplexes, fireplaces, and windowed kitchens are common, but no two homes are identical.
Plan around Landmarks. Visible exterior changes require LPC review. The protection is a feature, but it shapes timelines for any work touching the facade or windows.
What to know if you’re selling
Lead with the key and the architecture. The marketing story is the park, the Herbert Lucas facade, and the historic-district setting. These are durable, defensible selling points that do not depend on market timing.
Comp at the apartment level. With twenty-seven heterogeneous units, generic neighborhood averages mislead. Pricing should be built from the building's own recent trades and the closest park-fronting peers, adjusted for floor, exposure, and condition.
Pace for a discerning buyer pool. The natural buyer is a primary-residence purchaser who specifically wants a Gramercy Park key. That pool is smaller but committed; a focused, patient marketing strategy serves the larger duplexes best.
Comparable buildings
If you're considering 1 Lexington Avenue, also evaluate these park-fronting and Gramercy buildings:
- 32 Gramercy Park South (Gramercy Towers) — large postwar (1956) park-fronting co-op with a key
- 34 Gramercy Park East (The Gramercy) — NYC's oldest continuously operating co-op, with the park key
- 36 Gramercy Park East — Gothic-detailed prewar park-fronting condominium
- 44 Gramercy Park North — 1929 Neo-Gothic co-op on the park's north side
- 50 Gramercy Park North — modern park-fronting building with full amenities
- 60 Gramercy Park North — Emery Roth prewar cooperative near the park
More Gramercy buildings
- Zeckendorf Towers, 1 Irving Place — 1987 condominium
- 3 Gramercy Park West — 1846 co-op
- 4 Gramercy Park West — 1846
- 4 Lexington Avenue (Sage House) — 1912 co-op
- 6 Gramercy Park West — condominium
- The Park Gramercy (7 Lexington Avenue) — 1948 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at 1 Lexington Avenue (49 Gramercy Park North)?
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646.939.7375 · c.cohen@compass.com