34 Gramercy Park East (The Gramercy)
34 Gramercy Park East, New York, NY 10003
- Year built
- 1883
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.)
The structural identity rests on three features. First, the 1883 founding-cooperative pedigree — Gerlach "famously decided not to charge more for higher floors to avoid creating class divisions" (CityRealty). At opening it offered three apartments per floor, Otis elevators, and an upscale restaurant — 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." Second, the Queen Anne architectural composition — Willensky and White (A.I.A. Guide to New York City) called it "a craggy, mysterious red brick and red terra-cotta pile" with "some of the city's most spectacular Queen Anne architecture." Third, 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).
Recent sales
- ~$1,576/sf recent CityRealty average
- October 2025: Cara Delevingne listed her unit at $11M (purchased 2022 from Jimmy Fallon for $11.8M)
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: CityRealty (building 4850); Tom Miller, Daytonian in Manhattan, March 2019; Corcoran building page; NYC Landmarks Preservation Commission Gramercy Park Historic District designation report; NYC Department of Finance recorded transfers.