According to New York City records, the median price for an apartment in Manhattan in the month of July was $1,195,000. This price represents a 12.1% increase from last year’s median price of $1,050,000. Not surprisingly, the number of sales increased 107.3%, climbing from 655 to 1,358.
What exactly does $1.195 million get you in Manhattan? Let’s take a look.
Apartment 21-E at Gramercy Park Towers at 205 Third Avenue is a penthouse level Junior 4 with sweeping views of the New York skyline. The 868 square foot apartment offers a full dining alcove, walk through kitchen and a splendid 125 square foot west-facing terrace.
The recently renovated home boasts a gourmet kitchen with custom cabinetry, granite countertops, storage and top-of-the-line stainless steel appliances. The dining alcove (10’6”x9’3”) could easily be converted into a child’s bedroom or home office.
The price of $1.195 million represents a per square foot mark of $1,376.
Gramercy Park Towers is a full service co-op that occupies the entire block front between 18th Street and 19th Street. The building rises 20 floors and contains 316 apartments. Amenities include a common roof deck, bike storage, fitness room, manicured garden and cold storage.
The building enjoys a wonderful location, just to the east of Union Square and to the north of the East Village. While residents can only partake in walking around the perimeter of the actual Gramercy Park, there are several green spaces, including Union Square Park and Stuyvesant Square Park within easy walking distance. Everything else that you might expect in a high traffic residential neighborhood is right at your fingertips.
Apartment 21-E was introduced to the market in October 2020 for $1.45 million. The closed price of $1.195 million represents a 17.6% discount from the original ask.
The property was represented by Katherine Paige and Holly Parker and Elena Ash of Douglas Elliman.