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New York & Tri-State  + Downtown New York  + Apartments  | 
38 Gramercy Park North is a 21,400-square-foot residential property on Manhattan's Gramercy Park

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.” 

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Inside The Story

Colliers' Redding

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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