From June to September of 2013, crowds were flocking to the Guggenheim for a chance to stare up at the famous rotunda, recast as an enormous volume filled with shifting artificial and natural light. Titled Aten Reign, the show cemented installation artist James Turrell‘s reputation as a major cultural force in New York City. But now that the fanfare has died down, the Flagstaff, Arizona-based artist and his wife have sold their apartment at 26 Gramercy Park South for $2.1 million, according to city records released today.
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Get ready for another blockbuster sale. Following in the footsteps of Hilton who just sold off the Waldorf Astoria Hotel to Chinese Insurance Company Anbang for $1.95 billion, Aby Rosen and Michael Fuchs have put their prized Gramercy Park Hotel on the market. Crain‘s reports that the 186-room, 18-story hotel located at 2 Lexington Avenue could sell for an impressive $260 million.
The hotel was renovated back in 2006 for $200 million and then encountered several bumps during the recession which led its owners to default on a mortgage loan—and the eventual restructuring of debt after buying then-partner Ian Schrager’s share in the property. Now, Rosen and Fuchs are banking on the strength of the Manhattan hotel market, which has historically seen a discount when it comes to Downtown properties. If the hotel is to sell at more than its valued $260 million, on a per-room basis, it will garner a trading price greater than higher than the $1.4 million per suite seen in the Waldorf deal.
According to Crain’s, the owners are also considering other options like refinancing of the hotel or selling off just a percentage of ownership. Eastdil Secured is marketing the building to potential investors.
The listing says it best: “Left Bank meets East side of Gramercy Park.” This beautiful apartment at 34 Gramercy Park East offers a modern take on nineteenth century Paris, as well as keys to the private Gramercy Park– the best of both worlds for New York-based Francophiles.
Located in the 1883-built, landmarked Queen Anne building known as “the Gramercy” (the oldest co-op in New York), this two-bedroom home features ten windows with north, east, and west facing exposures, as well as the perfect combination of historic details and modern touches.
If you’re looking for a pied-a-terre in the coveted historic Gramercy Park, you’re in luck. An adorable one-bedroom penthouse at 206 East 18th Street has just popped up on the market, and it’s the perfect setting for anything from dinner parties to book club. This charming pad won us over with a lovely skylit living room, so we had to take a look inside to see what else it has in store.
With a prime location overlooking Gramercy Park, accessible solely to those with keys, the 183-year-old Renaissance revival Gramercy Park Hotel was built on the site of infamous architect Stanford White’s home (which had replaced the house where novelist Edith Wharton was born) nearly 90 years ago. The neighborhood, the park, and the hotel date as far back as the 1830s, when more than 60 swampy lots were allocated to developers looking to lure downtown city folks to a new “uptown” community. In time, those lots were transformed into what is now 39 dwellings surrounding a leafy park reserved for a select few lucky enough to live in luxurious homes framing the two-acre park between 20th and 21st Streets at Irving Place. But it wasn’t until 1925 that the stately hotel opened its doors at 2 Lexington Avenue. By 1930, it was extended westward along the park frontage on 21st street, and today it is one of the city’s most coveted quarters.
New York has a lot of old buildings. Perhaps surprisingly, many of those buildings are actually houses (yes, like real houses). These remnants of the early Dutch farming days can be spotted throughout the five boroughs, as can churches, apartments and “skyscrapers” from earlier times. We’ve rounded up some of the city’s oldest structures. Test your knowledge and see how many you’re familiar with ahead. And while you’re at it, make plans to visit one of these historic landmarks the next time you’re out and about.
Hot off the sale of their Soho loft, fashion designer Derek Lam and his partner Jan-Hendrik Schlottmann just closed on a $4.8 million 3BR/3.5BA pad at 50 Gramercy Park North, according to city records filed this afternoon.
The home, which was listed by Kirk and Paige at Douglas Elliman, boasts a 40-foot expanse of floor-to-ceiling windows that give the home a decidedly modern California aesthetic that is very much in the vein of a Neutra icon. Though the current decor is quite subdued, if Lam’s F/W’15 line is any indication of his preferred palette, we expect that this new space will be accented with plenty of rich blues, greens, and a bit of orange.