Gramercy Apartments for Sale | NYC Condos Near Gramercy Park

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Apartments with Gramercy Park key access command significant premiums—often 15-25% above comparable units without key privileges.

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Gramercy Overview

Gramercy is Manhattan's most serene residential enclave—a neighborhood defined by its exclusive private park, historic architecture, and village-like character in the heart of the city.

The tranquil, tree-filled neighborhood is on Manhattan's eastside, and it's bordered by 23rd Street to the North, 1st Avenue to the East, 14th Street to the South, and Irving Place and Park Avenue South to the West.

Gramercy's character is shaped by Gramercy Park itself—the only private park in Manhattan—and the elegant townhouses and pre-war buildings that surround it. The neighborhood attracts residents who value quiet streets, architectural beauty, and a sense of community rare in New York City.

Key facts about Gramercy:

• Population: approximately 30,000 residents
• Median household income: ~$120,000
• Median apartment sale price: ~$1.3 million (2025)
• Walk Score: 98 (Walker's Paradise)
• Historic designation: Gramercy Park Historic District

Who Should Live in Gramercy?

Gramercy Park: Manhattan's Only Private Park

Gramercy is known for its beautiful greenspaces, including one of the city's most exclusive parks, Gramercy Park. To get a key to this park, you have to live in one of the 63 lots surrounding the park. There are only about 400 keys in circulation.

If you are lucky enough to get a key, you'll be treated to a beautifully landscaped park with unique sculptures. The park features:

• Statue of Edwin Booth — The 19th-century actor, founder of The Players club
• Original gas-lit lampposts — Among the last in Manhattan
• Historic plantings — Mature trees and seasonal gardens
• Bird sanctuary — One of Manhattan's best spots for birdwatching

The Gramercy Park Key

The Gramercy Park key is one of New York's most coveted amenities:

Buildings with Gramercy Park key access include: 18 Gramercy Park South, 50 Gramercy Park North, 34 Gramercy Park East, 36 Gramercy Park East, The Gramercy Park Hotel residences, and select others.

Gramercy History & Architecture

Gramercy was developed in the 1830s by Samuel Ruggles, who drained the former swamp (from the Dutch "Krom Moerasje" meaning "little crooked swamp") and created the private park modeled on London squares.

Historic District

The Gramercy Park Historic District was designated in 1966, protecting the architectural character of the blocks surrounding the park. The district includes:

Notable Historic Buildings

• The Players Club (16 Gramercy Park S) — Edwin Booth's 1888 club for theater professionals
• National Arts Club (15 Gramercy Park S) — Samuel Tilden's former residence, now arts organization
• The Brotherhood Synagogue (28 Gramercy Park S) — Former Quaker meeting house
• Pete's Tavern (129 E 18th St) — NYC's oldest continuously operating bar (1864)

Neighborhoods Within Gramercy

Gramercy Park Proper: The blocks immediately surrounding the park, with the most prestigious addresses and park key access. Predominantly pre-war co-ops and historic townhouses.

Irving Place Corridor: The stretch from 14th to 20th Street along Irving Place. Home to Pete's Tavern, Washington Irving's former residence (disputed), and neighborhood restaurants.

Gramercy East: The area between Third Avenue and First Avenue, more commercial with newer development. Home to Gramercy Square and other recent condos.

Stuyvesant Square Area: The southwestern edge near the park of the same name. More affordable than park-adjacent blocks, with good housing stock.

Attrazioni di Gramercy

Parks & Green Spaces

If you can't get a key to Gramercy Park, there are still plenty of greenspaces to relax in throughout Gramercy:

• Stuyvesant Square — A lovely little park with fountains and brightly colored flowers in spring, divided by Second Avenue
• East River Esplanade — Head to the eastern edge of Gramercy and take a walk along the East River
• Union Square — Just blocks south, major park with farmers market

Acquisti

Gramercy also has lots of local shops that have been around for years:

• City Opera Thrift Shop — If you want to go thrifting, check out this shop which benefits the NYC Opera
• Bash & Bow — A carefully chosen selection of letterpress cards, women's clothes, and accessories
• Gramercy Project — A clothing store that has pieces from top retailers
• Bedford Cheese Shop — Seasonal cheeses along with freshly-baked bread and charcuteries

Cultural Institutions

• The Players Club — Historic theater club, limited public access
• National Arts Club — Art exhibitions, public events
• School of Visual Arts — Art school with galleries
• Gramercy Theatre — Live music venue

Gramercy Restaurants and Bars

Gramercy is filled with small, lowkey restaurants and bars that attract patrons from all around the city.

Fine Dining

• Maialino — One of the best-known spots in Gramercy, this Italian restaurant is located in the famous Gramercy Park Hotel, which often hosts launch parties for top fashion brands. Maialino offers a bird's eye view of Gramercy Park, and their authentic Italian food is just as amazing as their location. If you can't decide which dish you'd like, try their tasting menu.
• Gramercy Tavern — Another local favorite. They serve contemporary American cuisine made with seasonal ingredients. They have two dining rooms available: the Tavern, which serves casual a la carte fare, and the Dining Room, which has a fix-priced tasting menu. Whichever room you choose, you're guaranteed to get a delicious meal.

Neighborhood Favorites

• Casa Mono — Mario Batali's Spanish tapas
• ABC Kitchen — Jean-Georges Vongerichten, farm-to-table
• Craft — Tom Colicchio's original
• 15 East — Sushi omakase

Bars & Cocktails

• Ampersand — If you want to try some of the best handcrafted cocktails in Gramercy, head here. This chic bar has an extensive menu filled with unique drinks, like the Hot One, which has jalapeno-infused tequila blanco. They also have a menu of small plates to enjoy while you're sipping on your drink.
• Pete's Tavern — NYC's oldest continuously operating bar (1864), where O. Henry allegedly wrote "The Gift of the Magi"
• Dear Irving — Speakeasy-style cocktails
• Rose Bar — Gramercy Park Hotel, glamorous scene

Coffee & Casual

• Irving Farm Coffee Roasters — Local coffee institution
• 71 Irving Place — Cozy neighborhood café
• Friend of a Farmer — Brunch destination

Education & Schools

Public Schools:

• PS 40 Augustus Saint-Gaudens
• PS 116 Mary Lindley Murray
• Baruch College Campus High School (highly ranked)

Private Schools:

• Friends Seminary (nearby)
• Grace Church School (nearby)
• Xavier High School (nearby)

Universities:

• Baruch College — CUNY campus at Lexington and 24th
• School of Visual Arts — Art and design programs
• NYU — Nearby

Trasporti

Gramercy has excellent transit access:

Subway:

• 6 train at 23rd Street
• L train at Third Avenue/14th Street
• N/R/W trains at 23rd Street
• 4/5/6 trains at 14th Street-Union Square (nearby)

Bus:

• M1, M2, M3, M15, M23 routes

Commute Times:

• Midtown: 10–15 minutes
• Financial District: 20 minutes
• Brooklyn (Downtown): 25 minutes

Gramercy Real Estate Market

Tipi di proprietà

Pre-war Co-ops: The dominant housing type in Gramercy. Classic buildings with doormen, high ceilings, and original details. Many buildings surrounding the park have strict board requirements and Gramercy Park key privileges.

Boutique Condos: Newer construction and conversions offering modern amenities. Buildings like Gramercy Square (4-building development) and 200 East 21st Street provide condo alternatives in a co-op-heavy market.

Gramercy Square Development: The largest recent development, comprising four buildings (The Tower, The Prewar, The Modern, The Boutique) on the former Cabrini Medical Center site. Mix of new construction and converted landmark buildings.

Historic Townhouses: Limited inventory of single-family townhouses, primarily on the blocks surrounding the park. Extremely rare and command premium prices.

Market Dynamics

Gramercy's market is characterized by:

• Park key premium: Buildings with Gramercy Park access command 15-25% premiums
• Co-op dominance: Board approval required in most buildings
• Stable values: Less volatile than trendier neighborhoods
• Limited new construction: Historic district restricts development

Considerazioni sugli investimenti

• Strong rental demand: Professionals and families
• Appreciation stability: Blue-chip neighborhood
• Limited inventory: Scarcity supports values
• Co-op restrictions: Many buildings restrict subletting and pied-à-terre use

Learn more about co-ops vs. condos →

Signature Buildings

18 Gramercy Park South

A landmark pre-war cooperative directly on Gramercy Park, 18 Gramercy Park South offers classic pre-war architecture with coveted park key access. The building's location on the south side of the park provides excellent light and direct park views.

Piazza Gramercy

A four-building development on the site of the former Cabrini Medical Center, Gramercy Square is Gramercy's largest recent development. The project includes The Tower (new construction), The Prewar (converted landmark), The Modern, and The Boutique.

36 Gramercy Park East (Gramercy by Starck)

Designed by Philippe Starck, this Queen Anne-style landmark building was converted to condominiums with interiors by the famed designer. The building offers Gramercy Park key access and distinctive design.

Frequently Asked Questions About Gramercy Apartments

What is the average price of an apartment in Gramercy?

The median sale price for Gramercy apartments is approximately $1.3 million as of 2025. Studios typically range from $700K–$1.2M, one-bedrooms from $1–2.2M, two-bedrooms from $1.8–4.5M, and three-bedrooms from $3–8M. Apartments with Gramercy Park key access command significant premiums.

Is Gramercy a good place to live?

Yes, Gramercy is excellent for those who value quiet, residential streets with historic character. The neighborhood offers tree-lined blocks, proximity to Gramercy Park (and potential key access), excellent restaurants, and easy commuting. The tradeoffs are limited nightlife, high prices for park-adjacent buildings, and strict co-op boards. It's best suited for families, young professionals, and those who prefer a village-like atmosphere in Manhattan.

What are the best buildings in Gramercy?

Park-Adjacent Co-ops: 18 Gramercy Park, 50 Gramercy Park North, 36 Gramercy Park East

New Construction: Gramercy Square, 200 East 21st Street

Full-Service: Tempo, Zeckendorf Towers

What is the Gramercy Park key?

The Gramercy Park key grants access to Manhattan's only private park, a 2-acre green space surrounded by historic buildings. Only residents of the 63 lots immediately surrounding the park are eligible for keys. There are approximately 400 keys in circulation, with an annual fee of around $350. Key access is a significant amenity that commands premium prices in the real estate market.

How does Gramercy compare to nearby neighborhoods?

Is Gramercy safe?

Yes, Gramercy is one of Manhattan's safest neighborhoods. Its residential character, quiet streets, and affluent population contribute to low crime rates. The 13th Precinct (NYPD) covers the area.

Are Gramercy apartments mostly condos or co-ops?

Gramercy is predominantly co-ops, particularly in older and park-adjacent buildings. Pre-war buildings surrounding Gramercy Park are almost exclusively cooperatives with board approval requirements. Newer buildings like Gramercy Square and Tempo are condominiums. The co-op dominance means buyers should be prepared for financial disclosure and board interviews.

What is Gramercy Square?

Gramercy Square is a four-building residential development on the site of the former Cabrini Medical Center, developed by Zeckendorf Development. The project includes The Tower (new construction), The Prewar (converted landmark building), The Modern, and The Boutique. It's Gramercy's largest recent development, offering approximately 230 residences with shared amenities including a private park.

Can I get Gramercy Park key access?

You can only obtain a Gramercy Park key if you live in one of the 63 lots immediately surrounding the park. These include specific buildings on Gramercy Park North, South, East, and West. Some buildings in the Gramercy Square development have negotiated key access for certain units. When buying in Gramercy, verify key eligibility with your broker.

What is the commute from Gramercy to Midtown?

The commute from Gramercy to Midtown takes approximately 10–15 minutes via the 6 train from 23rd Street to Grand Central or via the N/R/W from 23rd Street to Times Square/Herald Square. The neighborhood's central location makes it convenient for Midtown commuters.

Are there good restaurants in Gramercy?

Yes, Gramercy has excellent dining including Gramercy Tavern (contemporary American, one of NYC's best), Maialino (Italian at Gramercy Park Hotel), Casa Mono (Spanish tapas), Craft (Tom Colicchio), and many neighborhood favorites. Pete's Tavern, NYC's oldest continuously operating bar, is also in Gramercy.

What is the history of Gramercy Park?

Gramercy Park was created in 1831 by developer Samuel Ruggles, who drained a swamp and established the private park modeled on London's residential squares. The name derives from the Dutch "Krom Moerasje" meaning "little crooked swamp." The park has remained private for nearly 200 years, with access limited to residents of the surrounding 63 lots.

Surrounding Neighborhoods

Other surrounding neighborhoods are NoMad, East Village, Flatiron, Murray Hill, and Kips Bay.

Ready to Find Your Gramercy Home?

Whether you're searching for a park-adjacent co-op with key access, a boutique condo at Gramercy Square, or a pre-war apartment on Irving Place, our team specializes in Gramercy real estate.

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About the Author

Anthony Guerriero is the founder and principal broker of Manhattan Miami Real Estate, a luxury residential brokerage specializing in Manhattan and Miami. Licensed in New York, Florida, and California, Anthony has over a decade of experience serving buyers in New York's most competitive markets. Manhattan Miami Real Estate is headquartered at 157 Columbus Avenue.

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This page is for informational purposes only. Prices and availability subject to change. Contact Manhattan Miami Real Estate for current listings and market data.