Photo credit: DDReps, courtesy of Compass.
First things first: If you should happen to move into this elegant pre-war residence at 34 Gramercy Park East, we hope you like Jimmy Fallon. Because he owns five apartments in the building (Richard Gere also owns a unit here). Built in 1883, it’s also NYC’s oldest co-op, known for its Aesthetic Movement architecture and stunning lobby with a Tiffany glass ceiling. The $2.495 million asking price for this two-bedroom co-op also gets you Gramercy Park views, and, of course, that mythical key to New York City’s only private park.
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Listing photos by Elizabeth Dooley, Dooley Images; Staging by Jason Saft from StagedToSell LLC
Originally built in 1883, Manhattan’s first co-op at 34 Gramercy Park East was described as “a craggy, mysterious red brick and red terra-cotta pile whose Queen Anne forms are among the city’s most spectacular,” in the 1988 AIA Guide to New York. A rare listing in the nine-unit building has just hit the market for $1,750,000, and it comes with a coveted set of keys to Gramercy Park. The two-bedroom unit features beautiful original moldings, wood floors, a decorative fireplace, and exposed brick accents.
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In 1876, Philadelphia hosted the Centennial International Exhibition, the country’s first official World’s Fair, which brought new technologies and European styles to the forefront. One outcome was a new interest in Aestheticism, especially in New York City. As The Met explains, the “cultural phenomenon” was “the flourishing of an artistic culture and lifestyle” with “an intense interest in collecting and decoration.” And if you want to see a modern-day display of this more-is-more trend, look no further than this opulent co-op at 34 Gramercy Park East. Listed for $2,950,000 (including a coveted key to the Park), the home underwent a recent renovation that looked towards the Aesthetic Movement, restoring period details of the city’s oldest co-op
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Last week, news hit that Richard Gere‘s former Noho apartment in the Silk Building had finally found a renter. It took eight months to get a tenant in to the sprawling live/work space, which was last listed at $20,000/month. Good thing the transaction went through, because the Post is now reporting that the actor turned activist picked up a $2.25 million Gramercy condo. The sale at 34 Gramercy Park East, which comes with a coveted key to the park, actually went through back in July, according to city records, but apparently Gere is extensively renovating the two-bedroom home and has only stopped by a few times since the summer. Sources say that he found out about the apartment through his friend Jimmy Fallon, who owns a whopping five units in the building.
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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.
Tour the $2 million apartment here
The Fallon family’s collection of 34 Gramercy Park East apartments continues to grow. According to the Wall Street Journal, Tonight Show host Jimmy Fallon just purchased a cozy, top-floor studio in the famed residence for $725,000. The small space neighbors his four-bedroom apartment, which he also recently bought for $1.35 million back in April. No word on whether the units will be combined, but either way, the petite pad is pretty nice as is.
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The Rembrandt at 152 West 57th Street between Sixth and Seventh Avenues was built as Manhattan’s first co-op in 1881. Apartment ownership was already in fashion across the pond, particularly in France and Britain, but the concept of a resident-owned building was still an unknown to most of us. Developed by a syndicate led by Jared B. Flagg, a clergyman with an avid interest in real estate, and built by the notable architectural firm of Hubert & Pirsson, the group had come to the conclusion that potential buyers would be drawn to a building where they would have control over expenses. For instance, buying coal and ice in bulk in order to keep prices down, and hiring a full-time communal staff to take care of the owners’ laundry, cooking and the running the elevators.
Built as a brick and brownstone building with terra-cotta trim and jerkin-head gable windows at the top, the unit mix—a result of an interlocking system of staggered floor heights to allow for very tall art studio spaces—included a few duplex apartments with as many as 12 rooms. Original brochure prices reportedly ranged between $4,000 and $5,000, with monthly maintenance as low as $50. Confident in the ultimate success of co-operative living, Mr. Flagg with Hubert & Pirsson continued to develop another six co-op projects that very same year.
The history of co-ops and their rise, fall, and rise again into popularity