After some early PriceChoppage, 13 of 31 condos at recent conversion 36 Gramercy Park East have sold, which helps bump up developer Maurice Mann's record post-Apthorp. Ten of the 13 sales were to market-rate renters at insider prices of around $1,686/square foot, but none of the rent-stabilized tenants were willing to take the plunge at that price. Apthorp insider buyers are getting around $1,150/square foot, which might put some of Mann's newly-earned points back in the Apthorp's column. [WSJ] UPDATE: Representatives of 36 Gramercy Park East would like us to note that the correct average for the 10 tenant buyers is, in fact, $1,818/foot.
Filed under: