34 Gramercy Park East (The Gramercy)
34 Gramercy Park East, New York, NY 10003
- Year built
- 1883
- Type
- Cooperative
- Units
- 47
- Floors
- 9
- Financing
- Up to 50% financeable (50% minimum down).
- Subletting
- Not permitted — an owner-occupancy building.
- Pied-à-terre
- Permitted.
- Washer / dryer
- Permitted in-unit.
- Pets
- Permitted, subject to Board approval.
- Co-purchasing
- Permitted. Parents purchasing for children not permitted.
- Guarantors
- Permitted.
- Managing agent
- Orsid New York
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2003–2025
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 2BR · combo median
- $2.1M
- Recent range
- $985K – $3M
- Listing discount
- 8.4%
- Recorded transfers
- 48
The Gramercy is NYC's oldest continuously operating cooperative — built 1883 by George W. DaCunha for Charles A. Gerlach. (The Rembrandt on West 57th Street, completed 1881, was the first cooperative ever but was demolished; 34 Gramercy is the oldest extant.)
Everything proceeds from the 1883 founding-cooperative pedigree — Gerlach "famously decided not to charge more for higher floors to avoid creating class divisions" (public records), and the building opened with three apartments per floor, Otis elevators, and an upscale restaurant, all radical for 1883; the original hydraulic elevator, converted to electric in the 1990s, "is considered one of the oldest in operation in New York City, if not the United States." Wrapping that history is the Queen Anne architectural composition that Willensky and White (A.I.A. Guide to New York City) called "a craggy, mysterious red brick and red terra-cotta pile" with "some of the city's most spectacular Queen Anne architecture." And uniquely, ownership confers the coveted key to Gramercy Park — Manhattan's only private park.
Notable residents: James Cagney, Margaret Hamilton (the Wicked Witch of the West), Jimmy Fallon, Cara Delevingne (purchased her unit from Jimmy Fallon for $11.8M in 2022; listed at $11M October 2025).
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $5,962/yr
- Per unit / month range
- $0 – $11
Facade safety — Local Law 11
Safe to live in today — but the last inspection flagged repairs that are due on a deadline, so facade work and its cost are coming. Whether that’s a real concern depends on the scope, the timing, and how the building plans to pay for it — reserves or an assessment — which is exactly what we’d dig into 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 →Management & transfer contacts
- Flip tax
- 3% of purchase price (shareholder, at closing)
- Sublet policy
- Not Allowed
- Pied-à-terre
- Allowed (case by case)
- Notable fees
- Transfer Agent Fee $850 ($1,100 if remote closing); max financing 50%; app processing $700; move-in/out $500 each
Recent sales
Recent transfers 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 | vs. Ask |
|---|---|---|---|---|
| May 15, 2025 | 8B | 1 BR · 1.5 BA | $2,150,000 | -8.5% |
| May 12, 2025 | 3BR | 2 BR · 1.5 BA | $2,100,000 | +0.2% |
| Nov 26, 2024 | 7C | 3 BR · 2 BA | $1,930,000 | -19.6% |
| Jun 20, 2024 | 1B | 1 BR · 1 BA | $985,000 | -8.4% |
| Jun 18, 2024 | 4B | 2 BR · 1 BA | $1,730,000 | -3.8% |
| Apr 27, 2023 | 7AR | 2 BR · 2 BA | $2,150,000 | -13.8% |
| Apr 26, 2022 | 8AF | 2 BR · 2 BA | $3,150,000 | +0.0% |
| Aug 17, 2021 | 6BF | 1 BR · 1 BA | $1,600,000 | +0.0% |
Market read. $/sf is measured on the latest sales with reliable square footage (2018): a median $1,737/sf across 1 sale. The building has traded as recently as 2025. 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 1-00876-0018) 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.
What to know if you’re buying
The 1883 founding-cooperative pedigree is structurally unique. Oldest continuously operating coop in NYC.
The DaCunha Queen Anne architectural pedigree and the Willensky & White reading are real institutional context.
The key to Gramercy Park is a real institutional amenity advantage.
The 1883 original hydraulic elevator (converted to electric 1990s) is structurally distinctive.
The cultural resident roster — Cagney, Hamilton, Fallon, Delevingne — supports premium positioning.
The 50% min down with permitted pied-à-terre is structurally calibrated for the institutional buyer.
Comparable buildings
- 50 Gramercy Park North — Lyons 1925 / Schrager 2004; immediate Gramercy Park trophy peer
- 15 Gramercy Park South (National Arts Club) — Calvert Vaux conversion 1884; nearby Gramercy peer
- One Madison (23 East 22nd Street) — CetraRuddy 2013; nearby Flatiron peer
- The Whitman (21 East 26th Street) — Mitchell 2013; nearby NoMad peer
- The Flatiron Building (175 Fifth) — Burnham 1902 / Sofield 2026; nearby Flatiron trophy peer
The Roebling Team at The Gramercy
Corey Cohen · The Roebling Team at Compass 646.939.7375 · c.cohen@compass.com
Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); NYC Department of Finance recorded transfers; publicly recorded NYC building data.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
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