50 Gramercy Park North
50 Gramercy Park North / 2 Lexington Avenue, New York, NY 10010
BBL 1008770018 · BIN 1017990
- Year built
- 1924
- Type
- Cooperative
- Floors
- 17
- Land
- Ground lease; the building sits on leased land
- The Roebling Research Desk's building record
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Pied-à-terre
- Permitted
- Pets
- Pets permitted; species and limits not stated
- Washer/dryer
- Permitted
- Doorman
- Full-time doorman
- Financing
- Purchase not contingent on financing; offering plan imposes no resale financing cap / minimum down payment. No stated maximum loan-to-value.
- Subletting
- Permitted, subject only to the Board's right of first refusal — no board approval of subtenants (condominium-rules structure; sponsor expressly markets units for investment/rental).
- Land
- Ground-leasehold: the cooperative owns a leasehold interest, NOT the fee (fee owned by Goldman/Empire Associates Realty Co.). Ground lease, as extendable, expires September 30, 2102; plan flags shares as a "wasting asset."
- Tax status
- Real estate taxes paid by the cooperative under the ground lease; per Sponsor's tax counsel ~50% of total RE taxes attributable to the building (potentially shareholder-deductible) and ~40% attributable to the land (not deductible). No 421-a/J-51 abatement stated.
- Managing agent
- GP Hotel Management LLC
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Reported and subject to confirmation. Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2006–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,591
- floor-adjusted, 1 sale
- Listing discount
- 12.4%
- Recorded sales
- 46
- On record
- 2006–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 50 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.
50 Gramercy Park North is a structurally rare cooperative-with-condominium-rules hybrid atop the Gramercy Park Hotel — converted 2004 by Ian Schrager and Aby Rosen with British minimalist John Pawson residential interiors. That conversion is best read through the Pawson / Schnabel design contrast, the architect's serene residential interiors set dramatically against Schnabel's eclectic hotel public spaces. The drama continues at the scale of the rooms, where 18-foot ceilings define many of the apartments. And the most coveted asset is the one shared with only a handful of addresses in the city: a key to Gramercy Park, Manhattan's only private park, established by Samuel Ruggles in the 1830s.
The hotel occupies the site of the former homes of Stanford White, agnostic political leader Robert Ingersoll, and George Templeton Strong (lawyer-diarist).
Architecture and building operations
The hotel "occupies the site of the former homes" of White, Ingersoll, and Strong. Pawson's residential design contrasts dramatically with Schnabel's eclectic hotel interiors. Many apartments feature 18-foot ceilings. Each residence comes with a key to Gramercy Park, Manhattan's only private park, established by Samuel Ruggles in the 1830s. Structured as a coop with condo rules.
Operations: 24-hour doorman/concierge; housekeeping; room service; butler/valet; restaurant signing privileges at Maialino and Rose Bar (per pre-2020 arrangement; verify current arrangement post-MCR reopening); David Barton fitness/spa access; pet walking; personal shopping; catering/event planning; individual storage; valet parking with car wash.
Policy framework
- Type: Cooperative with condominium rules hybrid
- Pets: Allowed
- Pied-à-terre: Permitted (rare structural flexibility for Gramercy)
- Investors: Permitted
- LLC, trust, foreign: All permitted
- Subletting: Permitted under condo-rules framework
- Min down / flip tax: Depends on individual unit and structural era; verify with current managing agent
Application and transaction fees
Fees below are from building management's published schedule, as of September 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
Purchase
11 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Background Check FeePer applicant | Paid by Buyer | When With the application | Amount $100 per applicant/occupant | Refundable Non-refundable |
| Credit Check FeePer applicant | Paid by Buyer | When With the application | Amount $75 per applicant/occupant | Refundable Non-refundable |
| Messenger Fees | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
| Move In Fee | Paid by Buyer | When With the application | Amount $1,000 | Refundable Non-refundable |
| Move Out Fee | Paid by Shareholder | When With the application | Amount $1,000 | Refundable Non-refundable |
| Recognition Agreement FeeConditional | Paid by Buyer | When At closing | Amount $300 (if applicable) | Refundable Non-refundable |
| Managing Agent's FeeConditional | Paid by Shareholder | When At closing | Amount $900 (If Seller is an Individual) $1000 (If Seller is an Estate) | Refundable Not stated |
| N.Y. State Transfer Tax StampsPer share | Paid by Shareholder | When At closing | Amount $0.05 per share | Refundable Non-refundable |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move In Deposit | Paid by Buyer | When With the application | Amount $2,500 | Refundable Refundable |
| Move Out Deposit | Paid by Shareholder | When With the application | Amount $2,500 | Refundable Refundable |
Sublet
8 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move Out Fee | Paid by Shareholder | When With the application | Amount $1,000 | Refundable Non-refundable |
| Application Processing Fee | Paid by Subtenant | When With the application | Amount $500 | Refundable Non-refundable |
| Background Check FeePer applicant | Paid by Subtenant | When With the application | Amount $100 per applicant/occupant | Refundable Non-refundable |
| Credit Check FeePer applicant | Paid by Subtenant | When With the application | Amount $75 per applicant/occupant | Refundable Non-refundable |
| Move In Fee | Paid by Subtenant | When With the application | Amount $1,000 | Refundable Non-refundable |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move Out Deposit | Paid by Shareholder | When With the application | Amount $2,500 | Refundable Refundable |
| Move In Deposit | Paid by Subtenant | When With the application | Amount $2,500 | Refundable Refundable |
Sublet renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Sublease Renewal Fee | Paid by Subtenant | When With the application | Amount $500 | Refundable Non-refundable |
Refinance
3 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Credit Check FeeRequired | Paid by Shareholder | When With the application | Amount $100 per shareholder | Refundable Non-refundable |
| Messenger Fees | Paid by Shareholder | When With the application | Amount $35 | Refundable Non-refundable |
| Refinance Processing Fee | Paid by Shareholder | When With the application | Amount $500 | Refundable Non-refundable |
Ownership transfer
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Background Check FeePer applicant | Paid by Buyer | When With the application | Amount $100 per applicant/occupant | Refundable Non-refundable |
| Credit Report FeePer applicantRequired | Paid by Buyer | When With the application | Amount $75 per applicant/occupant | Refundable Non-refundable |
| Messenger Fee | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Financing and purchase requirements
- Guarantors
- PermittedSource: building management's published schedule, as of September 2026
- Co-purchasing
- PermittedSource: building management's published schedule, as of September 2026
- Parent buying for an employed child
- PermittedSource: building management's published schedule, as of September 2026
- Parent buying for a student child
- PermittedSource: building management's published schedule, as of September 2026
- Purchase or lease by a corporation
- PermittedSource: building management's published schedule, as of September 2026
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditions1 year termSource: building management's published schedule, as of September 2026
- Pied-à-terre ownership
- PermittedSource: building management's published schedule, as of September 2026
- Short-term rentals
- Not permittedSource: building management's published schedule, as of September 2026
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Pets and in-unit washer/dryer
- Pets
- Pets permitted; species and limits not statedSource: building management's published schedule, as of September 2026
- In-unit washer/dryer
- PermittedSource: building management's published schedule, as of September 2026
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: The Roebling Team's building profile
- Valet
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of Buildings elevator records
- Amenities noted
- Fitness room, spa, garageSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $64,374/yr
- Per unit / month range
- $0 – $233
- Modeled exposure split equally across 23 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →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, with repairs due by the deadline stated in the filing. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City data last refreshed September 2026.
Recent sales
Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Aug 25, 2026 | 12B | 2 BR · 2.5 BA · 2,032 sf | $3,085,000 | $1,518/sf | -5.1% |
| Oct 15, 2019 | 3B | 3 BR · 2.5 BA · 2,729 sf | $4,500,000 | $1,649/sf | -24.4% |
| Aug 13, 2019 | 2B | 2 BR · 2.5 BA · 2,318 sf | $2,950,000 | $1,273/sf | -34.4% |
| Jun 28, 2019 | 3A | 3 BR · 3.5 BA · 2,151 sf | $3,675,000 | $1,709/sf | +0.0% |
| Jun 26, 2019 | 11 | 4 BR · 4.5 BA · 3,917 sf | $7,800,000 | $1,991/sf | -12.4% |
| Feb 13, 2019 | PH | 5 BR · 3.5 BA · 4,200 sf | $6,400,000 | $1,524/sf | -19.9% |
| Aug 22, 2018 | 12A | 2 BR · 2.5 BA · 1,848 sf | $3,400,000 | $1,840/sf | -13.9% |
| Jun 12, 2018 | 16A | 3 BR · 2,988 sf | $8,900,000 | $2,979/sf | -18.3% |
Market read. Most recent trades (2026 to date) cleared a median $1,591/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 12.4% 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 1-00877-0018; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. 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 would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at 50 Gramercy Park North and nearby.
Buying here? Co-op closing costs typically run 2 to 3% of the price. See NYC co-op and condo closing costs, line by line.
Keep up with 50 Gramercy Park North and its market
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What to know if you’re buying
The cooperative-with-condominium-rules hybrid structure is structurally rare in Manhattan. Maximum flexibility for pied-à-terre, LLC, foreign, trust buyers.
The 18-foot ceilings in many apartments are structurally distinguishing.
The MCR Hotels 2023 acquisition and planned 2025 reopening will restore the hotel-services arrangement.
The historical site context — Stanford White, Robert Ingersoll, George Templeton Strong — is real cultural-history credential.
Comparable buildings
- 34 Gramercy Park East (The Gramercy) — DaCunha 1883; immediate Gramercy Park trophy peer
- One Madison (23 East 22nd Street) — CetraRuddy 2013; nearby Flatiron / Gramercy peer
- The Whitman (21 East 26th) — Mitchell 2013; nearby NoMad peer
- 15 Union Square West — Kellum / Chen 2008; nearby Union Square peer
- The Flatiron Building (175 Fifth) — Burnham 1902 / Sofield 2026; nearby Flatiron trophy peer
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.
More Gramercy buildings
- 44 Gramercy Park North — 1930 co-op by Schwartz & Gross
- 45 Gramercy Park North — 1927 co-op
- 48 Gramercy Park North — 1858 co-op
- 60 Gramercy Park North — 1928 co-op by Emery Roth
- 61 Irving Place — 1950 co-op
- 81 Irving Place — 1929 co-op by George F. Pelham
The neighborhood
For the full corridor — architecture, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at 50 Gramercy Park North?
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646.939.7375 · c.cohen@compass.com