Built in 1964 and converted to co-ops in 1984, the 21-story Parker Gramercy combines the convenience of a downtown Manhattan neighborhood with the value of living just outside some of New York's priciest areas. "It's near Union Square, but it's not right on top of it, and it's close to the Village and Chelsea. The location is a big selling point, and what you can get for the price," says Compass broker Michael Engstrom, who has sold several units in the building. "If you go south of 14th Street, all of a sudden, you're paying 10 to 15 percent more because you're in the Village. It offers a better value than even a block or two away."
Comparatively low maintenance charges and the lack of a flip tax also pique many buyers' interest in the 430-unit building. "Maintenance is really low. That's always a big feature that people comment on," says Engstrom. "And when you go to sell it, you could be saving a substantial amount of money."
Prospective buyers considering a home at Parker Gramercy may discover that in late 2020, the co-op had to contend with a hoarder, which resulted in a bedbug issue — neither of which is all that uncommon in large New York City residential buildings. Engstrom, who has completed at least five deals in the building since that time, says that the matter has been resolved, while also noting legislation that requires co-ops to disclose a unit's bedbug history to buyers.
“People generally don’t have any complaints about the building,” says Engstrom. “And people do tend to stay for quite a while.”
Studios to three-bedrooms, some with a small terrace
Homes in Parker Gramercy include studios, one- and two-bedrooms and a few three-bedrooms. Studios measure up to 525 square feet and list for up to $684,000. Engstrom says that the apartments tend to be larger than what buyers find in new construction and that the closets are roomy. One-bedroom units up to 900 square feet sell for as much as $1.7 million. Two-bedroom apartments can be as large as 1,250 square feet and list for up to $2.4 million, and three-bedroom homes measuring as much as 1,600 square feet ask for up to $2.7 million. Select units include small terraces, and many have been renovated with updated finishes and fixtures.
Around-the-clock concierge and door attendant, a garage and even a tailor
Amenities at Parker Gramercy include a 24-hour door attendant, concierge, super and an on-site tailor and valet on weekdays. The building has a laundry room and an attached parking garage (available for an additional fee). The co-op is pet-friendly. Pied-a-terres and co-purchasing are permitted. The building has two entrances, one on 15th Street and another on 16th Street.
A convenient neighborhood near shopping, entertainment and two campuses
The Parker Gramercy's location is convenient to many shopping, dining and entertainment options. Westside Market is two blocks east, and the Union Square Greenmarket, open four days a week, can be reached in five minutes on foot. Union Square also offers a park, playground and a popular seasonal holiday market. Parsons School of Design and The New School are two blocks south at 13th Street and Fifth Avenue, and New York University's main campus is in Greenwich Village. The surrounding neighborhoods of Chelsea, the West Village and Greenwich Village are popular nightlife destinations.
Excellent public transit options and connection to New Jersey
Numerous subway lines are within a two-block radius of the co-op, including the F and M at 14th Street and Sixth Avenue, the 1, 2 and 3 at 14th Street and Seventh Avenue and the 4, 5, 6, N, Q, R, W and L at Union Square. The PATH train to New Jersey stops at 14th Street and Sixth Avenue. The West Side Highway, which provides access to points uptown, downtown and New Jersey via the Holland Tunnel, can be accessed at 14th Street. Newark Liberty International Airport and Laguardia Airport can be reached in about 40 minutes by car.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
4/ 10
Biker's Paradise
Bike Score®
91/ 100
Walker's Paradise
Walk Score®
100/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Union Square Park
4 min walk
Dog Park
Picnic Area
Trails
Chelsea Green
9 min walk
Picnic Area
Playground
Waterpark
Jackson Square
10 min walk
Picnic Area
NYC AIDS Memorial Park at St Vincent's Triangle
10 min walk
Picnic Area
Madison Square Park
10 min walk
Dog Park
Picnic Area
Playground
Washington Square Park
10 min walk
Dog Park
Picnic Area
Playground
McCarthy Square
11 min walk
Picnic Area
Christopher Park
11 min walk
Picnic Area
Dr. Gertrude B. Kelly Playground
11 min walk
Basketball
Playground
Schools
Source:
GreatSchools:
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Disclaimer: Please note that this building may not be in these schools' attendance zones.
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