Loft-like charm and soaring ceilings define this sun-filled Gramercy residence at the iconic Penny Lane Coop. Southern light pours through oversized windows and a Juliet balcony, while the elevated sleeping loft creates separation rarely found in Manhattan studios. Tucked inside one of downtown's most distinctive full-service cooperatives, this home blends character, functionality, and value in a prime location moments from Gramercy, Flatiron, and NoMad.
The residence boasts a fully-equipped kitchen with a dishwasher. A generous foyer features a sizable closet and dining space. The living room, brightened by oversized windows, offers a Southern exposure and includes a quaint Juliet balcony.
Above, a lofted sleeping space with approximately 5 feet of headroom offers a snug and private retreat, accommodating a Queen-size bed, dresser, and additional closet space. While not full standing height, the loft's clever design maximizes floor space below, leaving room for a generous living area and dining setup. Large windows flood the home with natural light, and the unique layout adds both character and functionality.
Both the bathroom and kitchen have been renovated.
Conveniently, washers and dryers are located on each floor, with one just outside this apartment's door.
Amenities include a 24-hour doorman, resident superintendent, four exquisite roof decks, plus a serene Zen Deck.
Optional extras include storage for $100 monthly and bike storage at $50 annually.
Pets are allowed on a case by case basis. Cats only, no dogs.
Direct building access to a parking lot is available for a fee.
Situated a mere two blocks from the 6 train and in proximity to Gramercy Park, owners have the option to sublet after two years for a duration of six years.
This unique Coop, a former ice cream factory, was transformed in 1976 and its unique lobby was designed to evoke the charm of a London street.
Quick Profile
If you take a walk through Kips Bay, which is loosely defined as the area between 23rd street and 34th street and the East River to almost Lexington, you’ll quickly learn it's a hodgepodge of sorts and not as well defined as other neighborhoods in New York City. Some New Yorkers say Kips Bay has an identity crisis because 1st, 2nd, and 3rd avenues are distinctly different from one another as you traverse them. Despite the perceived lack of neighborhood vibe there are others that appreciate its affordability and convenience.
First Avenue is dominated by hospitals and hospital buildings such as NYU Medical Center and Bellevue Hospital to name a few. Second Avenue is a mosaic of convenience stores, fast food joints and nondescript brick buildings. Third Avenue is saturated with small bars and gastropubs and the twenty somethings that patronize them.
No judgement against Kips Bay here. It’s a great neighborhood that is just as much a part of New York City as any other neighborhood. Kips Bay It’s bordered by Murray Hill to the North, Stuyvesant Town and Gramercy Park to the South, and Rose Hill to the West. The neighborhood is partly defined by newer high-rise apartments, brick rowhouses, and former tenement buildings.