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The New York Times

For $18 Million, a Gramercy Park View With a Coveted Key

By: Vivian Marino
Published: 6/28/2015Source: The New York Times

Featuring Tamir Shemesh's sale at 995 Fifth Avenue.

A full-floor aerie on the 15th floor of 18 Gramercy Park, a former Salvation Army rooming house for single women that was converted in 2012 into upscale condominiums by Zeckendorf Development and Global Holdings, with interiors designed by Robert A. M. Stern Architects, sold for $18,000,000 and was the most expensive closed sale of the week, according to city records.

 

The sponsor apartment, No. 15, which has monthly carrying costs of $12,000.96, had been marketed both alone, for $17.85 million initially and then raised to $19 million, and as a duplex with No. 16, the mirror unit directly above, for $37,650,000. No. 16 remains on the market for $19.15 million — one of three remaining sponsor units in the building, at East 20th Street.

 

Unit No. 15, with four bedrooms, five bathrooms and a powder room spread over 4,207 square feet, has direct elevator access that opens onto a foyer leading to a 35-foot-long gallery. Its nearly 40-foot corner living room overlooks Gramercy Park, to which the new owner will have access: One of the building’s myriad amenities is a coveted key to the private park.

Jill Mangone, the director of sales for Zeckendorf Marketing, handled the sale for the sponsor; the buyer, identified in city documents as Gregory Scott Clark, was represented by Susan Greenfield of Brown Harris Stevens.

The runner-up this past week, at $14,500,000, is a rambling, 10-room apartment at 995 Fifth Avenue, a condop building formerly known as the Stanhope Hotel, just opposite the Museum of Modern Art at East 81st Street.

The monthly maintenance for the 4,358-square-foot unit, No. 10S, which has treetop views of Central Park, is $18,840. The asking price was $15 million.

The residence has five bedrooms, each with an en-suite bath, and a powder room, and occupies half the 10th floor, on the south end of the building, according to Tamir Shemesh of the Corcoran Group, who represented the seller, whose identity was shielded by the limited liability company LBN 995 Fifth Avenue. Shelley L. Kaplan of Brown Harris Stevens brought the purchaser, listed as the Reggie Place Revocable Trust.

Mr. Shemesh said the buyer, whom he described as being local, paid all cash for the apartment and planned to use it as a primary residence. “This is the highest price for a half-a-floor unit in the building,” he added.

The 1926 building was designed by Rosario Candela and converted in 2007 to 26 luxury condop apartments by the Extell Development Company. (The building cannot technically be a condominium because the land underneath is not owned by the current developer; the land lease is for 150 years.)

Big Ticket includes closed sales from the previous week, ending Wednesday.

 

Copyright © 2015 The New York Times Company. Reprinted with Permission. 

Fred R. Conrad/The New York Times. 

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