18 Gramercy Park South
18 Gramercy Park South, New York, NY 10003
Gramercy Park
BBL 1008757503 · BIN 1017936
- Year built
- 1927
- Type
- Condominium
- Units
- 16
- Floors
- 19
- Landmark
- Designated
Every recorded sale at this building, 2013–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $3,601
- Listing discount
- 4.3%
- Recorded sales
- 26
- On record
- 2013–2025
18 Gramercy Park South is the rarest thing on the park's perimeter: a genuinely new luxury condominium on a block defined by century-old cooperatives. The building's bones date to 1927, when Murgatroyd & Ogden designed it as a hotel; for decades it served as the Salvation Army's Parkside Evangeline, a women's residence housing some three hundred people. When the Salvation Army sold the building in 2010, the Zeckendorfs — the developers behind 15 Central Park West — saw what almost no one else could: a full nineteen-story frame fronting Gramercy Park, available for a complete reimagining as for-sale condominiums.
The conversion, completed in 2012–2013, paired the Zeckendorfs with Robert A.M. Stern Architects, the same partnership that produced one of the most successful luxury buildings of the modern era. Stern's classical, prewar-revival idiom suits the park exactly: the building presents as if it had always belonged among the historic-district co-ops, while delivering the open layouts, modern systems, and condominium flexibility that the surrounding cooperatives cannot. With only sixteen apartments across nineteen floors — many of them full-floor, plus a three-level maisonette with a private passage and a duplex penthouse — the building is among the most exclusive small condominiums in the neighborhood.
What 18 Gramercy Park South offers that its co-op neighbors cannot is the combination of a park key with condominium ownership: no board interview, financing flexibility, pied-à-terre and investment use under the declaration, and a far simpler resale process. On a block where almost every door requires a cooperative board's approval, that distinction is decisive for international buyers, part-time New Yorkers, and anyone who values transactional simplicity.
Architecture and unit composition
Robert A.M. Stern Architects worked within the 1927 frame to produce a building that reads as classical and permanent. The apartments are large and light-filled, most of them full-floor, with four exposures capturing both the park and the downtown skyline. Finishes were specified at the top of the 2012-era new-construction market: marble showers, white-oak floors, and integrated high-end appliances. The signature residences — a three-level maisonette with its own private passage and a duplex penthouse spanning roughly 6,300 square feet — are among the largest condominium homes ever offered directly on Gramercy Park.
Because the unit count is so low relative to the building's height, ceilings, room proportions, and privacy are exceptional. Park-facing rooms look directly across to Gramercy's gated greenery; upper floors gain skyline and open-sky exposures over the protected low-rise historic district.
Building operations
The condominium is full-service: a 24-hour porter, a full-time concierge and staff, two rooftop porches, a club room, and a spa and wellness suite. As a condominium, the building offers the flexibility its co-op neighbors do not — there is no board package or interview, financing is at the buyer's discretion subject to the declaration, and the building permits pieds-à-terre, investment ownership, and subletting. Pets are permitted. The Zeckendorfs marketed the building with the Gramercy Park key as a central amenity, even covering buyers' first year of park access at launch. Because the building sits inside the Gramercy Park Historic District, exterior work is subject to Landmarks review.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $60,320/yr
- Per unit / month range
- $0 – $314
Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Recent sales
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Apr 30, 2025 | 3 | 4 BR · 4,207 sf | $15,150,000 | $3,601/sf | off-mkt |
| Sep 13, 2022 | 10 | 4 BR · 5.5 BA · 4,207 sf | $16,375,000 | $3,892/sf | -9.0% |
| Sep 27, 2021 | 15 | 4 BR · 5.5 BA · 4,207 sf | $17,000,000 | $4,041/sf | -5.6% |
| Aug 19, 2021 | 7 | 4 BR · 5.5 BA · 4,207 sf | $13,500,000 | $3,209/sf | +0.0% |
| Jul 27, 2017 | 16 | 4 BR · 4,207 sf | $15,750,000 | $3,744/sf | -17.8% |
| Sep 9, 2016 | 3 | 4 BR · 4,207 sf | $13,000,000 | $3,090/sf | -11.6% |
| Nov 3, 2015 | 10 | 4 BR · 4,207 sf | $17,768,462 | $4,224/sf | +0.1% |
| Nov 3, 2015 | 10 | 4 BR · 4,207 sf | $17,768,463 | $4,224/sf | +0.1% |
Market read. Most recent trades (2025) cleared a median $3,601/sf across 1 sale. Median listing discount 4.3% 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.
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 1-00875-7503) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.
What to know if you’re buying
This is the park key without the board. The building's defining advantage is a Gramercy Park key paired with condominium ownership — no cooperative interview, financing flexibility, and permitted pied-à-terre and investment use. For buyers who want the park but not a co-op board, there is essentially no substitute on the block.
Inventory is scarce by design. Sixteen apartments means resales are infrequent. If a unit that fits your brief comes available, treat it as a rare opportunity rather than one of many.
Underwrite full carrying cost. Common charges and property taxes on full-floor and duplex residences are substantial. Model the complete monthly carry — charges, taxes, insurance, and utilities — before committing.
Mansion-tax cliffs apply. At this building's price points, multiple mansion-tax thresholds routinely come into play. Run pricing through the Mansion Tax Calculator.
The architecture is a Stern signature. The classical, prewar-revival design is the building's identity. Buyers who value that idiom — the same language that made 15 Central Park West — will find it executed at intimate scale here.
What to know if you’re selling
Market the rarity directly. A new, Stern-designed, sixteen-unit condominium on Gramercy Park with a park key is close to unique. The scarcity itself is the headline.
Reach an international and flexible-buyer pool. The natural buyer often values condominium flexibility — global purchasers, part-time New Yorkers, and buyers financing or buying through entities. Marketing should reach that audience, not only the local co-op-oriented pool.
Price at the apartment level. With so few comparable homes, pricing must be built from the building's own trades and the closest large park-fronting residences, adjusted for floor, exposure, and condition.
Closings are condo-fast. Expect roughly 30–45 days from contract to closing, with none of the cooperative board's timeline risk.
Comparable buildings
If you're considering 18 Gramercy Park South, also evaluate these park-fronting and Gramercy options:
- 1 Lexington Avenue — Herbert Lucas 1910 prewar co-op on the park's northeast corner, with the key
- 32 Gramercy Park South (Gramercy Towers) — large park-fronting co-op with a key
- 34 Gramercy Park East (The Gramercy) — NYC's oldest continuously operating co-op, with the park key
- 50 Gramercy Park North — modern park-fronting building with full amenities and a key
- Celeste Gramercy (150 East 23rd Street) — newer Gramercy condominium nearby
- Madison Square Park Tower at 45 East 22nd Street — modern luxury condominium a few blocks north
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
Considering a move at 18 Gramercy Park South?
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