Luxury Gramercy Park Residence Sells for $16.5 Million

18 Gramercy Park South, Residence 10, a luxury multi-family property located in the heart of Manhattan’s Gramercy Park neighborhood, has been sold for $16.5 million. The deal, which closed on an undisclosed date, was brokered by an undisclosed team.

The property, which spans 4,207 square feet, boasts three bedrooms, three full bathrooms, and one half bathroom. The residence features a private elevator entrance, a chef’s kitchen with top-of-the-line appliances, and a spacious living room with a fireplace. The master suite includes a large walk-in closet and a luxurious en-suite bathroom with a soaking tub and separate shower.

The sale price of 16.5 million translates to a price per square foot of 3,922, making it one of the most expensive multi-family properties in the Gramercy Park neighborhood. The property was last sold in 2015 for $10.5 million, indicating a significant increase in value over the past six years.

The buyer and seller of the property have not been disclosed, but the sale of 18 Gramercy Park South, Residence 10, is indicative of the strong demand for luxury properties in New York City. Despite the challenges posed by the COVID-19 pandemic, the city’s real estate market has remained resilient, with high-end properties continuing to attract buyers.

The brokers involved in the deal have also not been disclosed, but the sale of 18 Gramercy Park South, Residence 10, underscores the importance of having an experienced and knowledgeable broker when buying or selling a luxury property. With so much money at stake, it is crucial to have a broker who can navigate the complexities of the New York City real estate market and negotiate the best possible deal for their client.

Overall, the sale of 18 Gramercy Park South, Residence 10, is a testament to the enduring appeal of luxury properties in New York City, and the importance of having a skilled broker to guide buyers and sellers through the process.