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18 Gramercy Park Sets Neighborhood Pricing Record

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The blockbuster $42 million sale at 18 Gramercy Park hasn't hit public record yet. But other units in the former hotel and Salvation Army property's condo conversion are starting to close, and?this is probably no big surprise to anyone?they're record-setters, too. Two apartments in the building have closed, according to the new weekly market report from CityRealty, and they went for $15,273,750 (for the 4,207-square-foot #5) and $16,877,493 (for the also-4,207-square-foot #9). Those numbers break down to $3,630/square foot for #5 and $4,011/square foot for #9. The previous neighborhood record, set in June 2012, was $3,259, according to the CityRealty stats. Boom! Given that the team behind 15 Central Park West?developers Arthur and William Lie Zeckendorf and architect Robert A.M. Stern?is behind this project, though, these numbers are just to be expected.
· 18 Gramercy Park coverage [Curbed]

18 Gramercy Park

18 Gramercy Park South, New York, NY 10003