This Facade Repair Included Cherubs and Winged Lions

Written by Bill Morris on September 06, 2017

Gramercy Park, Manhattan

Restoration of ornate Gramercy Park condo wins awards.

Here's how one co-op rewrote its governing documents, and how you can keep scammers from stealing your home.

The Rutherford Rewrites Its Governing Documents

Written by Lisa Prevost on February 24, 2017

Gramercy Park

A co-op uses shareholder input to bring its bylaws and proprietary lease up to date.

How the Rutherford Rewrote Its Future

Written by Lisa Prevost on February 03, 2017

Gramercy Park

Updating governing documents can keep co-ops out of trouble – and court.

Dealing with the Deluge of Deliveries

Written by Paula Chin on January 24, 2017

Gramercy Park

Some co-op and condo boards manage to turn a nuisance into an opportunity.

A “Psychological Incentive” to Cut Water Use

Written by Marianne Schaefer on November 16, 2016

Gramercy Park

Co-op’s itemized maintenance bills break out cost of water.

There comes a time when a board needs to intervene with aging shareholders.

More old buildings fall to make way for more new condos.

The seven-story condo building on the site of the long-gone Christ Lutheran Church on East 19th Street is being billed as “affordable luxury.” What, exactly, does this only-in-New-York real estate oxymoron mean? It means that the lowest-priced of the seven full-floor apartments can be had for just $3 million. All apartments will have an outdoor space, and the penthouse comes with a private terrace. A “townhouse-style” duplex on the ground floor, with private back yard, is asking a bit more than $4 million.

“Affordable for the neighborhood,” as Curbed put it, “but maybe not for the average New Yorker.”

Maybe not?

Designed by Brent M. Porter Architects and developed by Yosi Cohen, the building will be clad in beige Kolumba bricks imported from Denmark, a departure from the ornate brickwork found throughout the neighborhood. Renderings of the stark exterior drew mixed reactions from Curbed readers. “Neo-Brutalism?” asked one. “It’s a lovely Soviet bunker!” said another.

What do you expect for a paltry $3 million?

Tamir Shemesh, who's heading the building's sales team for The Corcoran Group, says he prefers the term "Accessible Luxury." "$3 million is still a big price tag," he says, "though unfortunately in New York real estate today, it's not."

Paul Vercesi has been living in his apartment on Gramercy Park for more than half a century and is now president of the co-op’s board of directors. After all those years, he thought that he knew everything there was to know about the 81-unit post-war building and its systems. Then one day he got a watery surprise.

A doctor who used a ground-floor apartment as his office decided to move out. When the new shareholder started renovating the space, she discovered an outmoded water-cooled air conditioner inside a closet. 

1 2

Ask the Experts

learn more

Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

Source Guide

see the guide

Looking for a vendor?