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Key Details
Property Type Condop
Sub Type condop
Listing Status Active
Purchase Type For Sale
Subdivision Gramercy Park
MLS Listing ID RLS20039033
Full Baths 1
HOA Fees $1,625/mo
HOA Y/N Yes
Year Built 1951
Property Sub-Type condop
Property Description
Welcome to Residence 5E at Park Gramercy, a rare opportunity to acquire a turnkey studio in a highly desirable, investor-friendly building in the heart of Gramercy.
Unlike many Manhattan co-ops, this building allows immediate subletting after purchase, offering flexibility for investors seeking rental income from day one or buyers looking for a future primary residence with income potential.
This well-proportioned studio features soaring beamed ceilings, hardwood floors, and a thoughtfully designed raised platform that maximizes functionality—ideal for efficient living and strong rental appeal. The kitchen is outfitted with stainless steel appliances, granite countertops, and slate flooring, while the layout includes three closets and a separate dressing area, a rare and valuable feature for tenants.
Gramercy Park continues to be one of Manhattan's most sought-after rental markets, driven by its central location, charming streets, and proximity to top dining, shopping, and multiple subway lines—ensuring consistent tenant demand and long-term value stability.
Residents of Park Gramercy enjoy full-service amenities including a 24-hour doorman, landscaped roof deck, bike storage, and additional storage, enhancing both tenant experience and rental competitiveness.
Whether you're building a portfolio or securing a flexible pied-à-terre with income potential, Residence 5E presents a compelling opportunity in a location that consistently performs.
Location
Interior
Interior Features Granite Counters
Heating Central
Cooling Other
Flooring Hardwood
Furnishings Unfurnished
Fireplace No
Appliance Dishwasher, Range, Stainless Steel Appliance(s)
Laundry Building Washer Dryer Install Allowed, Common On Floor, Common Area
Exterior
Exterior Feature Building Roof Deck
View Y/N Yes
View City
Private Pool No
Building
Dwelling Type High Rise
Story 12
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 0877-0067-00007-000-000005E
Ownership Condop
Monthly Total Fees $1, 625
Special Listing Condition Standard
Pets Allowed Building Yes, Cats OK, Dogs OK
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716