48 Gramercy Park North
48 Gramercy Park North, New York, NY 10010
Gramercy Park
BBL 1008770025 · BIN 1017992
- Year built
- 1858
- Type
- Cooperative
- Units
- 5
- Landmark
- Designated
Every recorded sale at this building, 2007–2022
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- Listing discount
- 9.2%
- Recorded transfers
- 7
48 Gramercy Park North is what most buyers picture when they imagine living directly on Gramercy Park and almost never find available: an 1858 Italianate brownstone, on the park, divided into a mere five cooperative apartments, each with the coveted key. Where the park's larger co-ops offer scale and full service, this building offers the opposite — intimacy, age, and the sense of owning a piece of a private house on Manhattan's only gated square. It is one of the oldest structures on the park, built in the same mid-nineteenth-century wave that gave Gramercy its character, and it retains the Italianate proportions and a historic cast-iron veranda that mark the era.
The building's pedigree runs deep. It was once home to Edward Hewitt, a grandson of the industrialist Peter Cooper — a thread connecting the address to the founding families who shaped Gramercy and Cooper Union nearby. Today, with only five apartments, the building functions as a small, closely held cooperative where ownership is genuinely scarce: an apartment here comes available only every several years, and the comp set is effectively the building itself plus the handful of other small park-fronting houses.
For a buyer, the value proposition is precise. You are not buying amenities or a doorman lobby; you are buying a key to Gramercy Park, a brownstone-scaled home with twelve-foot ceilings and original detail, and the rarity of an address that simply does not turn over. That is a very particular taste — and for the buyer who has it, there are few real alternatives.
Architecture and unit composition
The building is a classic 1858 Italianate brownstone — tall parlor-floor proportions, generous window heights, and a cast-iron veranda that ties it to the celebrated ironwork found elsewhere on the park's perimeter. Inside, the five apartments reflect a careful subdivision of a mid-nineteenth-century house rather than a purpose-built apartment plan. Ceilings reach roughly twelve feet on the principal floors; apartments retain period scale, and individual units have been modernized over the years with updated kitchens and baths while keeping the brownstone's bones. Several apartments include private outdoor space — a small terrace or access to the building's rear garden area — a genuine rarity directly on the park.
Building operations
At five units, the cooperative operates at a boutique, low-overhead scale: an elevator, a virtual doorman system rather than a full-time staff, central laundry, and private basement storage. The building is pet-friendly, and pieds-à-terre have historically been welcomed — a more relaxed posture than the larger, primary-residence-focused co-ops on the park, and a reflection of the building's small, flexible ownership. Because 48 Gramercy Park North sits inside the Gramercy Park Historic District, any visible exterior work is subject to Landmarks review, which protects the brownstone facade and the veranda.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 emissions caps apply. No regulatory capital pressure from this law specifically, current or 2030.
See full Local Law 97 analysis →Management & transfer contacts
- Sublet policy
- Allowed; sublet fee $1,000/year; subtenant app $600
- Notable fees
- Co-op (row house, pet friendly). Max financing 75%. Buyer app $650; credit $150; move-in/out $500 deposit; refinance $350
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 | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Mar 4, 2022 | 2 | 2 BR · 2 BA | $3,450,000 | -9.2% | |
| Sep 27, 2013 | 1A | 420 sf | $405,000 | $964/sf | -5.6% |
| Jun 12, 2007 | 1BC | 1 BR | $1,100,000 | -12.0% |
Market read. $/sf is measured on the latest sales with reliable square footage (2013): a median $964/sf across 1 sale. The building has traded as recently as 2022.
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 1-00877-0025) 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 on co-ops is not officially recorded, figures shown are approximate.
What to know if you’re buying
The key and the brownstone are the whole proposition. You are buying a Gramercy Park key and a piece of an 1858 house — not amenities or staff. Value the building for what it is: rare, intimate, and historic.
Plan around scarcity. Five units means availability is genuinely infrequent. If an apartment that fits comes to market, treat it as a rare window.
Expect boutique operations. A virtual doorman and self-managed scale keep carrying costs efficient but mean less staffing than a full-service building. Confirm the building's reserves and any planned capital work for a small co-op.
Outdoor space is the in-building differentiator. Apartments with a terrace or garden access carry a meaningful premium here. If private outdoor space matters to you, prioritize those layouts.
Landmarks protection shapes alterations. The facade and veranda are protected; visible exterior work requires LPC review.
What to know if you’re selling
Market the rarity and the history. A five-unit 1858 brownstone on Gramercy Park with the key is close to unique. Lead with scarcity, the Italianate architecture, and the Hewitt-era lineage.
Price from first principles. With almost no in-building comps, pricing must be built from the park-fronting premium, the apartment's condition and outdoor space, and the handful of small-house trades around the park — not from broader Gramercy averages.
Pace for the right buyer. The natural buyer specifically wants a small, historic, park-fronting home. That pool is narrow but motivated; a patient, targeted approach serves the sale best.
Comparable buildings
If you're considering 48 Gramercy Park North, 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
- 34 Gramercy Park East (The Gramercy) — NYC's oldest continuously operating co-op, with the park key
- 36 Gramercy Park East — prewar park-fronting co-op
- 44 Gramercy Park North — 1929 Neo-Gothic co-op on the park's north side
- 45 Gramercy Park North — park-fronting co-op nearby
- 60 Gramercy Park North — Emery Roth prewar cooperative near the park
The neighborhood
For the full corridor — architecture, schools, 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.
Considering a move at 48 Gramercy Park North?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 48 Gramercy Park North 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.