Gramercy Park in New York City

Gramercy Park in New York CityThough it’s just a short walk east from Union Square, Gramercy feels like another world. This small, elegant neighborhood covers the tree-lined blocks east of Park Avenue South between 14th and 23rd Streets, and seems much more than a few blocks from Union Square’s subway hub, Greenmarket bustle and 24-hour buzz. But it’s that simultaneous closeness and distance -- or that and the wealth of restaurants, nightlife, off-Broadway theater -- that has helped make Gramercy one of Manhattan’s most desirable residential neighborhoods, and made Gramercy condominiums some of the most prized listings in Manhattan real estate.

Part of the reason for the consistent demand for Gramercy apartments, though, is due to their scarcity -- much of Gramercy’s apartment stock is in the iconic 19th-century brownstones and townhouses that line the streets around Gramercy Park itself, and in exclusive pre-war co-ops. But while the keys to Gramercy Park are famously available only to those who own apartments facing Gramercy Park itself, finding Gramercy condos has become notably easier thanks to a boom in new construction condos in Gramercy on the blocks east of the park. The new condominiums of Gramercy lack the classic Gramercy apartment aesthetics -- think modern glass and steel, not classic Gramercy sandstone-and-limestone -- but they share the same thing that makes Gramercy apartment listings among the most popular in NYC real estate. That being a location just steps from Union Square’s center-of-the-universe energy and Gramercy’s revered dining and cultural scenes, and simultaneously seemingly miles from Manhattan’s non-stop hustle.

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