Gramercy House

we considering buying in Gramercy House and were discouraged (we own two properties, so we weren't the most liquid buyers in the world). When we interviewed residents, though, they all seemed to say that the building was well run.

ali r.
DG Neary Realty

thanks

Moved into this building recently. Coop Board was lovely during sale process. Building VERY well run, terrific super--Jose, great desk staff. Roof deck is gorgeous and under-used, as is ground-level garden. It is quiet, but very dog- and child- friendly. Very clean and well maintained public areas. Nice sense of community for such a large building. Building was recently proposed for historic designation. No bed bugs, but the building recently sent around a letter and article about it-- management seems to be on top of things, as is its responsibility

live in building for 20 years. I've recently been looking for apartments and have to say that Gramercy House is one of the cleanest, well maintained buildings I've seen in my extensive search. I really am tempted to stay put where I am. The apartments are well proportioned, the garden is beautiful and there is a real sense of community in the building. Hope this helps

well, i did buy in the building and couldn't be happier. board process was terrific.
the building is really well run. super and all of the staff are fantastic. tenants are very friendly and polite.

I cannot currently come up with the 40% down to buy in this building, but if anyone has leads on how to rent from an owner, please advise! Thanks!

I just bought in this building- I couldn't agree more with what everyone else has said on the building's staff being incredibly friendly and well run. However I would like to update my kitchen and bath... they have some agreement where if you even want to CONSIDER retiling or anything in the bathroom, you have to redo ALL the plumbing to the risers in the bathroom... as the fixtures are over 80 years old, I think it's time, but what I thought was going to be a cosmetic and not terribly expensive job is turning into a nightmare. Have any other owners in Gramercy House been through this process? Also, the building charges a non-refundable "alteration fee" of $2500 to do all this work --- is this reasonable?? And If it costs me a fortune to redo the bath and kitchen, is it worth it in terms of resale? (We bought a 1BR for under 600k and do not plan to sell in the near future, our timeline is probably closer to 7-10 years) Any insight here would be greatly appreciated!!

You have to redo the risers, or replace all of the plumbing back to the risers? The latter is normal in any building more than several decades old. Alteration fees also are normal in coops -- no idea is $2500 is typical.

No renovation that you do today will be worth much in terms of resale 7-10 years from now.

Hi Purple32: how did your bathroom-renovation project turn out? Did you have to end up paying a fortune because you had to replace all of the plumbing back to the risers?

I'm thinking of buying into this building and would love any insider information. Thank you!

Can anyone share any more info on the alteration fee? That seems ridiculous. Couldn't you just do it and say you were renovating something else?

So what are you going to do? Tell them you are changing the closet doors and have a plumber and tile guys show up to do it?