50 Gramercy Park North
50 Gramercy Park North / 2 Lexington Avenue, New York, NY 10010
- Year built
- 1924
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. The structural identity rests on three features.
First, the Pawson / Schnabel design contrast — Pawson's residential interiors contrast dramatically with Schnabel's eclectic hotel public spaces. Second, the 18-foot ceilings in many apartments. Third, the 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).
Recent sales
11A and full-floor units have traded in $10-25M range; PH ascend to $40M+ asking historically. Activity slowed during 2020-2024 GPH closure; reopening should restore liquidity.
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
The Roebling Team at 50 Gramercy Park North
Corey Cohen · The Roebling Team at Compass 646.939.7375 · c.cohen@compass.com
Sources: Wikipedia (Gramercy Park Hotel); 6sqft ("From Swamps to Swank"); Corcoran building page 60402; CityRealty; NYC Department of Finance recorded transfers.