- Year built
- 1924
- Type
- Cooperative
- Floors
- 17
- 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, 2006–2024
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,913
- Listing discount
- 13.1%
- Recorded sales
- 45
- On record
- 2006–2024
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).
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $0 (under cap)
- Per unit / month range
- —
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 before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials 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 →Recent sales
Recent closings 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 |
|---|---|---|---|---|---|
| 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% |
| Sep 13, 2016 | 9B | 3 BR · 2,873 sf | $7,300,000 | $2,541/sf | -2.7% |
Market read. $/sf is measured on the latest sales with reliable square footage (2019): a median $1,913/sf across 3 sales. The building has traded as recently as 2024. Median listing discount 13.1% 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) 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 from recorded condo declarations and offering plans.
What to know if you’re buying
The Schrager / Rosen 2004 conversion is real institutional sponsor context.
The John Pawson British-minimalist residential interiors are real institutional design pedigree.
The Julian Schnabel hotel public spaces produce structurally distinctive ambient context.
The cooperative-with-condominium-rules hybrid structure is structurally rare in Manhattan. Maximum flexibility for pied-à-terre, LLC, foreign, trust buyers.
The key to Gramercy Park is a real institutional amenity advantage.
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.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
Considering a move at 50 Gramercy Park North?
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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.