145 East 15th Street (Gramercy Arms)
145 East 15th Street, New York, NY 10003
BBL 1008710039 · BIN 1017803
- Year built
- 1959
- Type
- Cooperative
- Units
- 248
- Floors
- 16
- Amenities
- 24-hour doorman and concierge, live-in resident manager with union staff, renovated lobby and first-floor sitting area, central laundry (card system), bike room by license, private storage lockers, planted garden, and the on-site attended garage with direct building access
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Pied-à-terre
- Permitted
- Pets
- Pets permitted with conditions; species not stated
- Maximum financing
- 80% of the purchase price
- Flip tax
- Tiered or formula; see fees
- Doorman
- Full-time doorman
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 1BR median, 2023–2026
- $790K
- 11 qualifying sales
- Recent range
- $540K – $2.2M
- Listing discount
- 2.7%
- Recorded transfers
- 256
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Gramercy Arms 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.
Gramercy Arms is a 248-apartment cooperative between Union Square and Gramercy Park. Two hundred and forty-eight apartments across sixteen floors support a staffed lobby, a live-in resident manager, a union crew, a laundry, a bike room, storage lockers and a 56-space garage — a service package to compare with the specific facilities and charges of nearby alternatives.
It is also unusually well documented. The 1984 offering plan, the house rules and recent audited financial statements are on file with us, and together they answer questions that market lore usually gets wrong here. The plan was an eviction plan, not a non-eviction plan. That designation alone does not establish current occupancy: eligible elderly and disabled non-purchasing tenants could keep statutory protections under eviction plans, so review the current unsold-share, tenancy and occupancy schedules. The aggregate share count — 95,716 shares, allocated across 248 apartments in the 1984 plan — is the same in the most recent audit. An unchanged total does not show whether shares moved between apartments through combinations or amendments, so confirm the shares allocated to the specific apartment before computing maintenance or the per-share flip tax.
The underlying debt and operating assessment are separate parts of the financial review. The underlying mortgage is $9,000,000, interest-only, fixed at 2.75 percent and not due until November 1, 2031 — roughly $36,000 per apartment as a simple average, not an allocation of each apartment’s obligation. Assess the interest-only structure and 2031 refinancing against the full financials and the buyer’s own holding period. Against it, real estate taxes run close to half of the operating budget, and the building has carried an ongoing operating assessment on top of carrying charges for several years, running on the order of eleven percent of the carrying-charge line. A buyer comparing monthly costs to a Gramercy condominium needs to add the assessment to the maintenance and then remember that the maintenance already covers taxes, staff and heat.
The last structural point is the ground floor. The 1984 plan allocated shares to a Professional Unit and to additional Professional Apartments — the doctors' and dentists' offices that were standard in post-war buildings of this vintage. That inventory has been converting: a 2026 alteration filing with the Department of Buildings covers the renovation of an existing medical office unit into a residential unit, with a certificate-of-occupancy change. Anyone buying a low-floor line should ask the managing agent which professional units remain and what the corridor traffic looks like.
Architecture and unit composition
The building is a white-brick post-war apartment house of the type that reshaped Third Avenue after the elevated railway came down in the mid-1950s. It rises sixteen floors on a 103-foot East 15th Street frontage and runs nearly the full depth of the block along Third Avenue, with balconies on many lines, a canopied and planted East 15th Street entrance, and a driveway feeding the garage below. The architect is not documented in any public record we can verify, and we do not attribute the design.
Interior lettering runs deep — lines A through U and beyond, with a high count of small and mid-size apartments. The Department of Buildings record is a running history of combinations: 1R and 1S in 2003, 3U and 3T in 2010, 8U and 8T in 2008, 15P and 15R in 2017, 16S and 16T in 2013, 12J and 12K, 4D and 4E. Combining across the T–U and P–R pairs recurs in the filing record, which is what a buyer looking for a real three-bedroom in this building should be planning for rather than searching for; any combination still needs board approval under the current alteration rules. Post-war proportions here mean defined foyers, through-wall air-conditioning sleeves (window units are prohibited by the house rules), and an 80 percent floor-covering requirement in every room but the kitchen, baths, closets and foyer.
Building operations
Staffing is full-service and unionized — the cooperative contributes to the Building Service 32BJ pension fund under a collective bargaining agreement, and payroll runs about a fifth of the operating budget. The lobby is attended around the clock, the resident manager lives in the building, and residents deposit a set of keys with the superintendent for emergency access as a condition of the house rules.
The garage is a real business, not a courtesy. Fifty-six spaces are leased to an outside operator under a lease running to November 30, 2030, with stepped minimum rents, percentage rent above a revenue threshold, a real-estate-tax participation capped at five percent a year, and a letter of credit in place of a cash deposit. Garage income has been the building's largest non-carrying-charge revenue line. Shareholders arrange parking directly with the operator; rates are the operator's, not the cooperative's.
The audited records describe the capital position at their reporting dates. The building spent heavily on exterior walls in 2022 and touched the boiler the same year; plumbing work followed in 2023. Reserves stood near $1.9 million at the most recent year-end on file, alongside a tax escrow and an undrawn $1 million credit line. One caveat belongs on the page because it matters at diligence: the cooperative's governing documents do not require reserve accumulation, the statements on file report no commissioned study of the remaining useful lives of building components (confirm whether a later study exists), and the auditors have formally noted the omission of the supplementary information about future major repairs that accounting standards call for. The reserve balance alone does not establish adequacy or distress; reconcile it with current commitments, a capital plan and available funding.
Two items are live. The façade cleared its most recent inspection cycle — after SWARMP ("safe with a repair and maintenance program") findings in the 2008, 2013 and 2019 cycles, the Cycle 9 report filed January 9, 2024 reported the façade SAFE, following the 2022 exterior-wall work. Separately, a building-wide gas infrastructure replacement — new gas piping in the cellar and new valves at every stove in the building — was filed with the Department of Buildings in May 2025 and has been amended through 2026. Gas riser work is disruptive by nature and is frequently assessed. Ask for the scope, the schedule and the funding plan before you sign.
Policy framework
Board package and interview. A full package and an in-person board interview are standard. Run the Co-op Board Qualification Calculator before offering, and expect the board to look at post-closing liquidity and debt-to-income even though the financing ceiling is permissive.
Financing. Up to 80 percent per listing records. Verify the board's current maximum in writing; ceilings move.
Post-closing liquidity. No published requirement. We did not establish the current requirement in the documents reviewed. Obtain the written application instructions and management’s current guidance before bidding; the board evaluates the complete application.
Subletting. Two years of ownership and occupancy first; then one year, extendable one more on a showing of need, then a three-year wait. The annual fee is 18 percent of one month's maintenance. Subtenants are interviewed.
Pied-à-terre, trusts and LLCs. Pieds-à-terre are permitted, and listing records document parent purchases for working children and gifting. Purchases in the name of a trust or an LLC are not addressed in the documents on file and are a board-discretion item everywhere; get the answer from the managing agent in writing before contract.
Flip tax. $11 per share, seller-paid.
Moving and alterations. A $1,000 refundable damage deposit and a $150 non-refundable move fee, one move per building day, weekdays 9 to 5 only. Alterations require a signed alteration agreement and board approval for anything touching plumbing, electrical, walls, ceilings or floors.
Application and transaction fees
Fees below are from building management's published schedule, as of September 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
- $11 per share, payable by the seller, per the audited financial statements on file. Because shares are allocated by apartment, the dollar amount varies by line — at the building's average of roughly 386 shares per apartment, that is on the order of $4,000 to $4,500, and materially more for a large…
Source: The Roebling Team's building profile
Purchase
26 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Additional Processing FeeConditionalPaid to management | Paid by Buyer | When With the application | Amount $200 if there is a 2nd Applicant or Guarantor | Refundable Non-refundable |
| Credit Report FeePer applicantPaid to managementRequired | Paid by Buyer | When With the application | Amount $125 per applicant | Refundable Non-refundable |
| Credit Report Rerun FeeConditional · Per applicantPaid to management | Paid by Buyer | When With the application | Amount $100 per applicant (if required for time due) | Refundable Not stated |
| LL58 Compliance FeePaid to management | Paid by Buyer | When With the application | Amount $500 | Refundable Not stated |
| Move In FeePaid to the building | Paid by Buyer | When With the application | Amount $150 | Refundable Non-refundable |
| Package Resubmission FeeConditionalPaid to management | Paid by Buyer | When With the application | Amount $150 (if applicable) | Refundable Not stated |
| Packing Handling FeePaid to the building | Paid by Buyer | When With the application | Amount $150 | Refundable Non-refundable |
| Processing FeePaid to management | Paid by Buyer | When With the application | Amount $700 | Refundable Non-refundable |
| Rush Package Review FeeConditionalPaid to management | Paid by Buyer | When With the application | Amount $500 (if applicable) | Refundable Not stated |
| Move Out FeePaid to the building | Paid by Seller | When With the application | Amount $150 | Refundable Non-refundable |
| Expedited Closing Fee Expedited Closing FeeConditionalConditions: Within 10 business days of approvalPaid to management | Paid by Buyer | When Before closing | Amount $500 (if applicable) | Refundable Non-refundable |
| Financing FeeConditionalPaid to management | Paid by Buyer | When Before closing | Amount $400, only if purchase is being financed | Refundable Non-refundable |
| Power of Attorney Review FeeConditionalConditions: If ApplicablePaid to management | Paid by Buyer | When Before closing | Amount $500 (if applicable) | Refundable Non-refundable |
| Closing FeePaid to management | Paid by Seller | When Before closing | Amount $850 | Refundable Non-refundable |
| Closing FeeConditionalConditions: Closing in other location; closing by mailPaid to management | Paid by Seller | When Before closing | Amount $1,100 | Refundable Non-refundable |
| Estate Sale feeConditionalPaid to management | Paid by Seller | When Before closing | Amount $500 (if applicable) | Refundable Non-refundable |
| Expedited Closing Fee Expedited Closing FeeConditionalConditions: Within 10 business days of approvalPaid to management | Paid by Seller | When Before closing | Amount $500 (if applicable) | Refundable Non-refundable |
| Power of Attorney Review FeeConditionalConditions: If ApplicablePaid to management | Paid by Seller | When Before closing | Amount $500 (if applicable) | Refundable Non-refundable |
| Additional Closing FeeConditionalConditions: WITHOUT a Bank Attorney PresentPaid to management | Paid by Buyer | When At closing | Amount $500, if applicable | Refundable Non-refundable |
| Estate Transfer Additional Closing FeeConditionalConditions: WITHOUT the attorney presentPaid to management | Paid by Buyer | When At closing | Amount $200, if applicable | Refundable Non-refundable |
| Postponement FeeConditionalConditions: Less than 48 Hours' NoticePaid to management | Paid by Buyer | When At closing | Amount $500, if applicable | Refundable Non-refundable |
| Trust Transfer Additional Closing FeeConditionalConditions: WITHOUT the attorney presentPaid to management | Paid by Buyer | When At closing | Amount $200, if applicable | Refundable Non-refundable |
| Undertaking FeePaid to management | Paid by Buyer | When At closing | Amount $100 | Refundable Not stated |
| Flip TaxPer sharePaid to the building | Paid by Seller | When At closing | Amount $11 per share | Refundable Not stated |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move In DepositPaid to the building | Paid by Buyer | When With the application | Amount $1,000 | Refundable Refundable |
| Move Out DepositPaid to the building | Paid by Seller | When With the application | Amount $1,000 | Refundable Refundable |
Sublet
13 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeePaid to management | Paid by Shareholder | When With the application | Amount $650 | Refundable Non-refundable |
| Package Resubmission FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $150 (if applicable) | Refundable Not stated |
| Rush Package Review FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $500 (if applicable) | Refundable Not stated |
| Additional Processing FeeConditionalPaid to management | Paid by Subtenant | When With the application | Amount $200 if there is a 2nd Applicant or Guarantor | Refundable Non-refundable |
| Credit Report FeePer applicantPaid to managementRequired | Paid by Subtenant | When With the application | Amount $125 per applicant | Refundable Non-refundable |
| Credit Report Rerun FeeConditional · Per applicantPaid to management | Paid by Subtenant | When With the application | Amount $100 per applicant (if required for time due) | Refundable Not stated |
| Move In/Move Out FeePaid to the building | Paid by Subtenant | When With the application | Amount $150 | Refundable Non-refundable |
| Move In/Move Out FeePaid to the building | Paid by Subtenant | When With the application | Amount $1,000 | Refundable Refundable |
| Packing Handling FeePaid to the building | Paid by Subtenant | When With the application | Amount $150 | Refundable Non-refundable |
| Building Sublet FeePaid to the building | Paid by Shareholder | When At closing | Amount 30% surcharge of the shareholder's yearly maintenance | Refundable Not stated |
Sublet renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Building Sublet FeePaid to the building | Paid by Shareholder | When With the application | Amount 30% surcharge of the shareholder's yearly maintenance | Refundable Not stated |
| Package Resubmission FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $150 (if applicable) | Refundable Not stated |
| Processing FeePaid to management | Paid by Shareholder | When With the application | Amount $250 | Refundable Non-refundable |
Refinance
9 items
Management's “less refinance” schedule
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Package Resubmission FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $150 (if applicable) | Refundable Not stated |
| Processing FeePaid to management | Paid by Shareholder | When With the application | Amount $250 | Refundable Non-refundable |
| Rush Package Review FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $500 (if applicable) | Refundable Not stated |
Management's “more refinance” schedule
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Credit Report FeePer applicantPaid to managementRequired | Paid by Shareholder | When With the application | Amount $125 per applicant | Refundable Non-refundable |
| Credit Report Rerun FeeConditional · Per applicantPaid to management | Paid by Shareholder | When With the application | Amount $100 per applicant (if required for time due) | Refundable Not stated |
| Package Handling FeePaid to the building | Paid by Shareholder | When With the application | Amount $150 | Refundable Non-refundable |
| Package Resubmission FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $150 (if applicable) | Refundable Not stated |
| Processing FeePaid to management | Paid by Shareholder | When With the application | Amount $400 | Refundable Non-refundable |
| Rush Package Review FeeConditionalPaid to management | Paid by Shareholder | When With the application | Amount $500 (if applicable) | Refundable Not stated |
Alteration
2 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Alteration Processing FeePaid to management | Paid by Resident | When Upon approval | Amount Decorative $250, Standard $1000, Major $2500. Please confirm with the Alteration Processor for the correct amount | Refundable Non-refundable |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Alteration Security DepositConditionalPaid to the building | Paid by Resident | When Upon approval | Amount $1000 (if applicable) | Refundable Refundable |
Ownership transfer
7 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Credit Report FeePer applicantPaid to management | Paid by Buyer | When With the application | Amount $125 per applicant | Refundable Non-refundable |
| Estate TransferConditionalPaid to management | Paid by Buyer | When With the application | Amount $250 if applicable | Refundable Not stated |
| LL58 Compliance FeePaid to management | Paid by Buyer | When With the application | Amount $500 | Refundable Not stated |
| Name change/spouse add/removalConditionalPaid to management | Paid by Buyer | When With the application | Amount $250 if applicable | Refundable Not stated |
| Transfer into a TrustConditionalPaid to management | Paid by Buyer | When With the application | Amount $500 if applicable | Refundable Not stated |
| Transfer to a Family Member and a Third PartyConditionalPaid to management | Paid by Buyer | When With the application | Amount $500 if applicable | Refundable Not stated |
| Closing Fee for all TransfersPaid to management | Paid by Buyer | When At closing | Amount $850 | 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
- 80% of the purchase priceSource: building management's published schedule, as of September 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
- Permitted with conditionsAfter 2 yrs of ownershipSource: The Roebling Team's building profile
- Wait before a sublet
- 2 yearsSource: The Roebling Team's building profile
- Pied-à-terre ownership
- 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
- Pets
- Pets permitted with conditions; species not statedPermitted with the cooperative's prior written consent, which is revocable; the board reserves the right to limit number and type and may ask to meet the animal as part of the approval process, per the house rules on fileSource: The Roebling Team's building profile
- In-unit washer/dryer
- Not verified
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
- $514 per room a monthMedian of 19 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Maintenance, per square foot
- $2.18 per square foot a monthMedian of 4 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
- Garden, garage, bike storage, 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
- $857/yr
- 2030–2034 annual penalty
- $177,527/yr
- Per unit / month range
- $0 – $60
- Modeled exposure split equally across 248 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 September 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 September 2026.
Recent sales
Gramercy Arms offers full-service living between Union Square and Gramercy Park. The building's product is small-to-mid-size post-war apartments — studios, one-bedrooms and two-bedrooms, with three-bedroom scale available almost exclusively through combinations — to compare with dated, matched pre-war Gramercy Park and newer Third Avenue/East 21st Street sales using consistent room counts or reliable area measures. Compare the following apartment attributes without assuming a fixed ranking: line and exposure (the Third Avenue side is louder than the interior and 15th Street lines), whether the apartment has a balcony, and the depth of the last renovation. Confirm the approvals and completed scope of any combination, then use matched sales and renovation estimates to assess its value; completed work alone does not establish a premium over the separate apartments.
The carrying-cost comparison is the one buyers get wrong. Maintenance here includes real estate taxes, heat, water, staff and the underlying mortgage interest; a condominium's common charges do not include taxes. Add the building's operating assessment to the quoted maintenance before you compare anything. Run the True Monthly Carrying Cost Calculator on the real number.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
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 |
|---|---|---|---|---|---|
| Aug 12, 2026 | 7E | 1 BA · 600 sf | $630,000 | $1,050/sf | -4.5% |
| Jul 2, 2026 | 10T | 1 BR · 1 BA | $1,050,000 | -4.5% | |
| May 15, 2026 | 4C | 1 BA | $565,000 | -5.7% | |
| Feb 10, 2026 | 1F | 2 BR · 1 BA | $750,000 | -25.0% | |
| Dec 30, 2025 | 2C | 1 BA · 525 sf | $540,000 | $1,029/sf | -1.6% |
| Oct 16, 2025 | 8H | 1 BA | $633,999 | -2.5% | |
| Oct 10, 2025 | 8R | 1 BR · 1 BA | $690,000 | -9.8% | |
| Aug 25, 2025 | 7C | 1 BA | $560,000 | -2.6% |
Market read. Most recent trades (2026 to date) cleared a median $1,040/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 2.4% 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 |
|---|---|---|
| Oct 15, 2003 | 1T | $369,000 |
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 1-00871-0039). 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.
Closed rents at Gramercy Arms, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 5 | $3,400 |
| 1 bedroom | 6 | $5,625 |
11 closed sublet leases, October 2023 to September 2026. Most recent lease June 2026. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at Gramercy Arms and nearby.
At the recent median sale of $750K (13 transfers in the past 24 months, since October 21, 2024), a buyer putting 25% down would pay about $11,363 to close, or 1.5% of the price.
- Mansion tax: $0
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $11,363
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
The 80 percent financing ceiling is the headline. If you are choosing between this building and a nearby condominium primarily because of down-payment constraints, price both on the same square footage: the co-op's per-room pricing plus an 80 percent loan against the condominium's terms.
Underwrite the underlying debt and its maturity. The documented $9 million interest-only loan carries a 2.75 percent rate and a November 2031 maturity. It also means the building faces a refinancing at whatever rates prevail in 2031, with no amortization having reduced the principal. Model the current debt service and plausible refinancing scenarios over your intended holding period.
Ask about the assessment and the gas work in the same breath. The operating assessment has been running for years and should be treated as part of the carry, not as a temporary item. The building-wide gas piping and stove-valve replacement filed in 2025 is the kind of project that generates a capital assessment. Get the board's minutes and the current budget through your attorney.
Check what is on your floor. Low floors historically carried professional offices with separately allocated shares, and at least one is being converted back to residential use under a 2026 filing. Corridor traffic, waiting-room noise and elevator use differ meaningfully between a floor with a dental practice and one without.
Third Avenue versus the interior. This is a corner building on a busy avenue with a bus route. Stand in the apartment with the windows open before you decide the exposure is worth the light.
What to know if you’re selling
Lead with the financing ceiling and the underlying loan. Eighty percent financing and a 2.75 percent interest-only underlying mortgage to 2031 are the two facts that separate this building from its competition, and neither one shows up in a photograph. Put them in the first paragraph.
State the assessment plainly. Buyers discover operating assessments at attorney review and reprice. Disclosing it upfront costs you nothing and protects the contract.
Renovated clears; estate condition clears on math. The buyer pool here is deliberate and value-driven. Price an unrenovated apartment against a credible renovation budget rather than against the last renovated comparable. Run the Renovation Cost Calculator before setting the ask.
Remember the seller pays the flip tax. Eleven dollars a share is a real number on a large line or a combination. Build it into your net-proceeds analysis with the Seller Closing Cost Calculator.
Comparable buildings
If you're considering 145 East 15th Street, also evaluate:
- Gramercy Plaza (130 East 18th Street) — 1962 co-op converted in 1984; the closest like-for-like in age, scale and conversion vintage
- 205 Third Avenue — 1964 full-service co-op on the same avenue; the direct alternative
- 333 East 14th Street — 1965 co-op a few blocks south; compare dated sales and apartment attributes
- 200 East 16th Street — 1930 pre-war co-op; the pre-war alternative at the same latitude
- 61 Irving Place — converted mid-century co-op on the quiet block one street west
- Stuyvesant Town / Peter Cooper Village — the neighborhood's other large post-war residential landscape
- 300 East 23rd Street (Tempo) — the new-development condominium alternative nearby
- 250 East 21st Street — 2021 boutique condominium; compare dated sales and services
- 15 Union Square West — loft-scale condominium on the square; the design-led alternative
- 121 East 22nd Street — full-amenity condominium a few blocks north
- 102 East 22nd Street — the other, unrelated Gramercy Arms; a 1928 Art Deco co-op north of the park
More Gramercy buildings
- 132 East 19th Street — 1910 co-op
- 133 East 15th Street — 1900 co-op
- 137 East 15th Street — co-op
- 147 Third Avenue — 1960 co-op
- 149 East 18th Street — co-op
- 150 East 23rd Street — 2019 condominium
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 Gramercy Arms?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com