The Most Expensive Townhouses of Gramercy Park

Posted February 27th, 2019 by Matthew Lesser

For many New Yorkers, the famous Gramercy Park is a mystery. As one of just three private parks in New York state, the gated enclave in the heart of Manhattan remains accessible only to those with a key.

Yet even more elusive, and arguably more unique, are the private terraces and gardens of the townhouses that surround it. While a reservation at the Gramercy Park Hotel or a well-chosen Airbnb can earn any visitor a glimpse behind the gate, the balconies and backyards (yes, backyards!) of Gramercy Park homes are the ultimate “invitation only” outdoor space.

As one might expect, an address alongside Julia Roberts, Uma Thurman and Jimmy Fallon on these shaded streets rarely becomes available, but recent years have seen some of the neighborhood’s most extravagant and historic homes hit the market, including 343 E 18th Street, a 20’-wide, fully renovated and designed home by famed architect Morris Adjmi, which we sold for $7,600,000 last year.

The most recent townhouse to sell directly on the park, 4 Gramercy Park West, which went for $23,094,000 ($2,235 per square foot) in 2017, was the first with a “Gramercy Park” address to sell in eight years, following 23 Gramercy Park in 2009. While in need of a full renovation, 4 Gramercy Park West commanded a much higher price per square foot than Manhattan’s average, due partly to its address and unobstructed Eastern exposures of the park, and likely also to its enduring fame as the “red brick home” from the cover of Bob Dylan’s Highway 61 Revisited album.

Today, the biggest opportunities to own a townhouse in the immediate Gramercy Park District include homes with some of the city’s most impressive amenities and private gardens -- even if passersby may never know about them. Here are the five most interesting currently on the market:

40 Gramercy Park North - Asking $14,950,000 ($2,076 PSF)

At 6 stories tall with angled views of Gramercy Park, this 20.5’-wide mansion is the first home in the last two years with a “Gramercy Park” address to hit the market -- and yes, it comes with a key. It also features more than 7,200 square feet of living space, 6 bedrooms and an elevator.

135 E 15th Street - Asking $14,900,000 ($1,748 PSF)

Newly renovated with elevator access to all floors, this 25’-wide, 8-bedroom, single-family home features 8,500 square feet with massive proportions, multiple entertaining spaces, a roof terrace and private garden.

140 E 19th Street - Asking $15,250,000 ($2,647 PSF)

Located on the aptly named “Block Beautiful”, this 23.5’-wide, four story, single-family home features a spectacular 20’ tall Candela-built living room with floor-to-ceiling windows overlooking a South-facing garden.

214 East 18th Street - Asking $12,900,000 ($2,580 PSF)

Featuring well-preserved period details, gracious ceiling heights and a large garden with relaxed seating areas, this 25’-wide single-family townhouse harkens to the 19th Century heyday that drew architects, artists and writers to the block.

5. East 17th Street – Coming Soon

A 15’-wide, five-story, legal two-family townhouse featuring an inviting, renovated red-brick Italianate façade with stoop entry, and a large, landscaped garden will soon be available, featuring a lower triplex, floor through apartment and two artists studios above. All units are free-market.

The limited inventory and desirability of this centrally located neighborhood have driven property prices up 35% over the last 5 years, with an average sale price of $13 million. Our transactions in Gramercy Park have spanned commercial and residential properties over recent years, including single- and multi-family townhouses with listing prices of up to $14.9 million.


Interested in selling your Gramercy Park townhouse or exploring opportunities to own in this unique district? Get in touch at ml@lesliegarfield.com.

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