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Rare Ownership Opportunity on Gramercy Park Comes to Market
Colliers has been retained to sell 100% ownership interest in the cooperative at 38 Gramercy Park North, a 21,400-square-foot residential property with 9,750 square feet of additional development rights on Gramercy Park in Midtown South.
The non-landmarked property, asking $50 million, offers conversion potential for high-end, luxury condominiums or conversion to a single-family, mansion residence. The Colliers New York Capital Markets team, led by Peter Nicoletti, Zach Redding and Dylan Kane, has been tapped to lead the sale.
38 Gramercy Park North is reportedly one of the only development opportunities on Gramercy Park in decades. The corner property is made up of 36 residential units and two commercial units.
“The opportunity to own exclusive real estate like 38 Gramercy Park North comes along once in a generation,” said Redding. “The property offers keys to Gramercy Park, corner exposure with unobstructed park views, and a blank canvas for an iconic development.”
- ◦Sale/Acquisition

