Curbed commenters were spot on (aren't they always?) when they guessed that the Zeckendorfs are the hidden faces behind the $60 million purchase of the Salvation Army's former ladies' dorm at 18 Gramercy Park South. Today the Post's Lois Weiss unveils the details of the long-awaited condo conversion of the 17-story pre-war tower on the private park, and it's going to be an absolute blockbuster. William Lie and Arthur Zeckendorf have brought along their buddy, architect Robert A.M. Stern, to handle the renovation of the Parkside Evangeline. Yep, the 15 Central Park West Fun Time Band is getting back together. For profit! How shallow.
There will be 15 full-floor residences and two duplexes. The full-floor apartments will be just over 4,500 square feet each, and buyers will get Gramercy Park keys, 'natch. Anyone want to take an early guess at asking prices? Better question: Will all these new park key-holders make the mayor angry? We have a feeling the buyers will meet all the appropriate income requirement to keep Arlene and the trustees happy.
· 18 Gramercy finds Salvation [NYP]
· Salvation Army Sells Gramercy Park Building for $60 Million [Curbed]