50 Lexington Avenue (Gramercy North)
50 Lexington Avenue, New York, NY 10010
BBL 1008800019 · BIN 1018071
- Year built
- 1987
- Type
- Condop
- Units
- 184
- Floors
- 26
- Landmark
- No
- Pets
- Permitted
- Subletting
- Permitted with management approval, from day one of ownership
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 1BR median
- $865K
- Recent range
- $555K – $1.6M
- Listing discount
- 3.3%
- Recorded transfers
- 234
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Gramercy 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 Lexington Avenue — marketed as Gramercy North — is one of the more usefully flexible ownership structures in the Gramercy-to-Kips Bay seam. The building was completed in 1987 as a 26-story postmodern tower at the southwest corner of Lexington Avenue and East 24th Street, a block from Baruch College and within easy reach of Gramercy Park, Madison Square, and the Flatiron corridor to the west.
Its defining feature for buyers is the condop structure. The building is owned by a cooperative corporation, and apartments transfer as co-op shares, but the governing documents give the building condominium-style flexibility: subletting is permitted with management approval from the first day of ownership, pieds-à-terre are allowed, and parent purchases and gifting are accommodated. In practice this produces a building that reads and prices like a co-op — with the lower carrying costs and share-based ownership that implies — while removing most of the transactional friction that makes traditional Gramercy cooperatives difficult for investors, part-time residents, and non-traditional buyers.
That combination is unusual in the neighborhood. The classic Gramercy and Stuyvesant Square cooperatives are pre-war buildings with strict boards, restrictive sublet policies, and high down-payment requirements. 50 Lexington sits in a different lane: a large, amenity-rich 1980s tower with an accommodating policy framework, priced for buyers who want ownership and building services without the pre-war co-op admission process.
Architecture and unit composition
The approximately 184 residences distribute across 26 stories. The building is a characteristic 1980s postmodern masonry tower — stepped setbacks toward the top, corner bay windows that pull light and view into the living spaces, and a notable number of apartments with private balconies, a genuine amenity in this part of Manhattan.
The unit mix runs from studios and one-bedrooms through larger two- and three-bedroom layouts on the upper floors. Higher floors capture open city views, and the setback massing means many units above the mid-rise line have outdoor space. Interiors are 1980s new-construction in bones; renovation quality varies apartment to apartment, and finish level is a primary driver of pricing spread within the building.
Building operations
50 Lexington operates as a full-service building: 24-hour doorman, a live-in resident manager, an indoor swimming pool, sauna, fitness center, a landscaped 360-degree roof deck noted locally for its Fourth of July fireworks sightlines, central laundry, and private and bicycle storage. The lobby, elevators, and common areas have been renovated over the building's occupancy. Pets are permitted.
Because the building is a condop, carrying costs are structured as cooperative maintenance and are generally moderate for a full-amenity building of this size and vintage. Financing is permitted up to 80 percent — more generous than the 20-to-30-percent-down posture typical of Gramercy pre-war co-ops. Buyers should confirm the current maintenance schedule, any assessments, and the reserve position during due diligence.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $89,377/yr
- Per unit / month range
- $0 – $40
- Modeled exposure split equally across 185 units (the city tax-lot count). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
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 record last verified September 2026.
Management & transfer contacts
- Flip tax
- None (cond-op has no flip tax)
- Sublet policy
- Allowed; sublease fee = 20% of annual maintenance. Short-term rentals/AirBnB not allowed; subtenants cannot have pets
- Pied-à-terre
- Allowed (co-purchasing/corporate allowed)
- Notable fees
- Cond-op (185 units, Flatiron). Max financing 80%. Buyer capital contribution = 3 months maintenance; app $450; credit $100; interview $200; admin $1,000; move-in/out $750 + $1,500 deposit; transfer fee $700-750/apt
Recent sales
Because apartments transfer as cooperative shares, the building is best read on a price-per-room basis rather than strictly per square foot. Recent closings have run in a moderate range for the corridor, with pricing driven by floor, exposure, outdoor space, and — heavily — renovation condition. Apartments trade below the trophy Gramercy pre-war co-ops on a per-room basis, reflecting the building's 1980s vintage and its position at the neighborhood's western edge rather than on Gramercy Park itself.
The condop structure is a pricing factor in both directions. It broadens the buyer pool — investors and part-time residents who are shut out of stricter co-ops can transact here — which supports demand and liquidity. At the same time, some buyers seeking a traditional pre-war Gramercy co-op will look elsewhere. The net effect is a building that tends to sell efficiently to the buyers it fits.
Recent transfers 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 |
|---|---|---|---|---|---|
| Jun 8, 2026 | 12D | 1 BR · 2 BA · 760 sf | $800,000 | $1,053/sf | -3.0% |
| May 13, 2026 | 18E | 2 BR · 2 BA | $1,230,000 | -1.6% | |
| Apr 29, 2026 | 22C | 2 BR · 2 BA · 900 sf | $1,200,000 | $1,333/sf | -4.0% |
| Apr 10, 2026 | 16E | 1 BR · 2 BA · 952 sf | $865,000 | $909/sf | +2.4% |
| Nov 21, 2025 | 8D | 1 BR · 2 BA · 850 sf | $1,095,000 | $1,288/sf | -4.7% |
| Sep 12, 2025 | 2A | 1 BA | $555,000 | -3.5% | |
| Jun 26, 2024 | 17H | 1 BR · 1.5 BA · 750 sf | $925,000 | $1,233/sf | -5.1% |
| May 13, 2024 | 15G | 1 BR · 1 BA | $725,000 | -3.3% |
Market read. Most recent trades (2026) cleared a median $1,070/sf (floor-adjusted) across 3 sales. 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 2.6% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Oct 15, 2003 | 15E | $595,000 |
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 1-00880-0019). 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 on co-ops is not officially recorded, figures shown are approximate.
Closed rents at Gramercy North, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 2 | $3,897 |
| 1 bedroom | 8 | $4,347 |
| 2 bedroom | 4 | $5,747 |
Also $85 per sq ft per year (8 leases that report square footage). 15 closed sublet leases, October 2023 to September 2026. Most recent lease September 2026. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
At the recent median sale of $1.09M (6 transfers since 2024), a buyer putting 25% down would pay about $23,606 to close, or 2.2% of the price.
- Mansion tax: $10,950
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $12,656
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Understand the condop structure. You are buying cooperative shares, but with condominium-style flexibility — day-one subletting with management approval, pieds-à-terre, and parent purchases permitted. This is materially more accommodating than a traditional Gramercy co-op and is the building's central selling point.
Financing is generous for a co-op. Up to 80 percent financing is permitted, versus the 20-to-30-percent-down requirement common at pre-war cooperatives.
Condition drives price. Renovation quality is the largest single pricing variable within the building. Inspect finishes, kitchens, baths, and mechanicals carefully and price against genuinely comparable condition.
Confirm carrying costs and reserves. Review the current maintenance schedule, any active assessments, the reserve position, and recent capital projects. Model the full monthly carry.
Run the numbers on transfer costs. Confirm any flip tax and closing-cost structure at offer stage, and run pricing through the Mansion Tax Calculator where applicable.
What to know if you’re selling
Lead with the flexibility. The condop structure is the building's differentiator. Marketing should foreground day-one subletting, pied-à-terre allowance, and financing terms — the features that separate this building from stricter neighboring co-ops.
Condition is your leverage. Because renovation quality drives pricing spread, presentation and staging materially affect outcome. A well-prepared apartment stands out in the building's inventory.
Price per room against the right comps. Comparable analysis should weight floor, exposure, outdoor space, and condition — not just room count.
Comparable buildings
If you're considering 50 Lexington Avenue, also evaluate:
- 210 East 15th Street (Parc Fifteen) — 1964 white-brick cooperative on Stuyvesant Square; full-service, generous sublet policy
- Madison Green — full-amenity condominium at the Flatiron edge
- 45 East 22nd Street — modern Gramercy/Flatiron condominium tower
- Gramercy Park — the broader corridor's pre-war cooperative tradition
More Flatiron buildings
- 45 East 30th Street (Park South Lofts) — 1922 condominium
- Madison Square Park Tower at 45 East 22nd Street — condominium by Hill West Architects
- 49 East 21st Street — 1913 condominium
- 50 West 15th Street — 2008 condominium by FXCollaborative (Fox & Fowle / FXFOWLE)
- 55 West 17th Street — 2017 condominium by Morris Adjmi Architects
- 58 West 15th Street — 1920 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Flatiron — read The Roebling Team Guide to Flatiron.
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.
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 Gramercy North?
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