38 Gramercy Park East

Roman & Williams is the design architect and SLCE Architects the architect of record. The preliminary zoning diagram puts the bulk of the tower on the Third Avenue end, with setbacks stepping down toward the park on the west to create terraces facing Gramercy Park. A recess in the center of the East 21st Street elevation is expected to be the entrance.

The scheme grew. The first 2023 filings showed an 11-story, 13-unit building on the co-op lot and a separate 14- to 18-story building next door; the companion filing was withdrawn in 2024 and the sites were combined into one 20-story building. The DOB job now shows 59 dwelling units on 138,983 square feet; reporting gives 57. Construction area divided by 57 homes is about 2,440 square feet a home, an allocation of gross area that includes amenities, parking and circulation, not an apartment size.

Listing records describe an attended lobby with concierge, a fitness center, on-site parking, a bike room, storage and private terraces. Unit mix, finishes and the full amenity program have not been published.

• October 31, 2023: DOB new-building job M00951038 filed by SLCE Architects (permit issued April 13, 2026).
• February 2024: 252–258 Third Avenue bought for $72 million.
• 2024–2025: 38 Gramercy Park East cooperative bought for $47 million with air rights and its 11 apartments bought out; $335 million construction loan reported in 2024.
• April 2025 – January 2026: Demolition of six structures; excavation and piling under way by January 2026.
• May 2026: Foundation walls rising; reporting expected the structure above grade by summer.
• Spring 2028: Completion target posted on site.

No offering plan has been found and no prices have been published. Listing records had targeted a second-quarter 2026 sales launch; that date has passed without a launch on record. Until the Attorney General accepts a plan the sponsor cannot sign contracts or take deposits.

Before the plan is accepted. A sponsor may collect expressions of interest under an approved CPS-1 application but may not take deposits. An interest list does not secure a unit. Prices and the unit count can move through amendments.

Park access. Confirm in the offering plan, and with the park's trustees, how many keys the building receives, what they cost each year and whether access transfers with the unit.

Unit count. Reporting says 57 and the DOB job says 59. Schedule A will settle it.

Deposits and contract. New-development contracts typically require 10% to 20% at signing, held in escrow under the plan.

Taxes. In sponsor sales the buyer customarily pays the New York State and New York City transfer taxes, and the mansion tax applies at $1 million and above, at higher rates in New York City at $2 million or more. The calculators below price both.

Temporary certificate of occupancy. Sponsor closings typically occur on a temporary certificate. Ask what the sponsor escrows for open items.

If you're considering 38 Gramercy Park East, also look at these Gramercy condominiums:

• 36 Gramercy Park East — 1910 park-facing building converted to condominiums, next door
• 18 Gramercy Park South — park-facing condominium conversion
• 200E21 (200 East 21st Street) — condominium a block east on East 21st Street
• 200E20th (200 East 20th Street) — condominium nearby
• Celeste Gramercy (150 East 23rd Street) — newer Gramercy condominium
• 121 East 22nd Street — new-construction condominium nearby
• 34 Gramercy Park East (The Gramercy) — park-facing cooperative two doors south, for park-address context