61 Irving Place

The building presents a clean masonry face to Irving Place, anchored by a canopied entrance and a marble-floored lobby — a more polished arrival than its modest size would suggest. Inside, the apartments are known for generous proportions: high ceilings, oversized windows, and the kind of architectural character that the conversion preserved rather than erased. Across roughly 41,000 residential square feet and 32 homes, the building averages comfortable, full-sized layouts — predominantly one- and two-bedroom apartments rather than studios — with line-to-line variation in renovation level typical of a converted cooperative.

The result is a building that lives larger than its eight floors imply: bright, well-proportioned homes a few steps from one of the city's most coveted private parks.

The Gramercy runs as a traditional cooperative with part-time door attendance and a building superintendent. Shared facilities are practical rather than amenity-heavy — an elevator, basement storage, and a central laundry room — which keeps the monthly maintenance efficient. There is no garage or roof deck; the trade is a low carry and a location that delivers the amenities of the neighborhood (the park, the Greenmarket, the restaurants of Irving Place and Union Square) just outside the door.

As a cooperative, purchases clear through a board with a financial package and interview. The building permits financing up to 75% of the purchase price and is pet-friendly with board approval — both meaningful, buyer-relevant facts in the pre-war and converted co-op market. Subletting is allowed under board-defined terms after an initial owner-occupancy period.

With 32 apartments, turnover at The Gramercy is light — a small number of closings in a typical year, skewed toward one- and two-bedroom homes. Pricing is driven by floor, light, line, ceiling height, and renovation depth, and the building's demand profile is steady owner-occupant rather than investor. For an address-specific view of recorded pricing and cadence, the building sales page tracks transfers tied to this BBL.

This is a board-approval cooperative, so plan for a full financial package, an interview, and the 75% financing cap. Underwrite the all-in monthly carry and read the building's financials for reserve health and any planned capital work before you commit. The 75% financing allowance is more flexible than the 50% (or all-cash) postures of some grander Gramercy and Park Avenue co-ops — a real advantage for buyers using a mortgage.

The reasons to buy here are location-first: Irving Place itself, the proximity to Gramercy Park and Union Square, the high-ceilinged homes, and a manageable maintenance. For an owner-occupant who values quiet and walkability over a full amenity stack, the value case is compelling.

The Irving Place address and the Gramercy/Union Square location are the headline; lead with them. The comparable set is recent closings in the building and in the immediate Gramercy and Union Square cooperative cohort, adjusted for floor, light, and renovation. The 75% financing allowance widens the qualified-buyer pool relative to stricter neighbors — a point worth surfacing in marketing.

Presentation is where value is won in a small converted co-op: a renovated, well-staged home that photographs its ceiling height and light consistently outperforms an unrenovated comparable. We price to the building's real ceiling, position the lifestyle accurately, and prepare the board package so a qualified buyer clears review cleanly.

If you're considering 61 Irving Place, also look at these Gramercy and Union Square cooperatives:

• 200 East 21st Street — Gramercy cooperative nearby
• 121 East 22nd Street — full-service Gramercy building
• 117 East 18th Street — pre-war cooperative off Irving Place
• 32 Gramercy Park South — park-block cooperative
• 44 Gramercy Park North — Gramercy Park cooperative

The Roebling Team at Compass specializes in Gramercy, Union Square, and the broader Midtown East cooperative market. We publish this profile because buyers and sellers in small, well-located co-ops deserve building-specific intelligence — the conversion's character, the financing and pet posture, the staffing reality, and where pricing sits against the immediate comparable set.

If you're weighing a purchase or sale at 61 Irving Place, a 30-minute consultation is the right starting point.