Sale at 32 Gramercy Park #13F

It comes with a key to park, are you comparing it to others with park privileges? Also that building seems a little more "white glove" than some of the other buildings in the area.

This building has always had a high maintenace even in the 80's. Right in front of this building a water main exploded in the late 80's early 90's and destroyed several apts, killed a person in the building and it spewed asbestos in the building. The building was considered toxic for years. They got a big payout from (I think) Con Ed to renovate, fix the building, and to compensate the owners for their loss of equity/value. The management used some of the money to renovate the common areas, windows, etc. Slowly but surely they have repaired their value in relation to other similar buildings.

Skippy, if that's true, this was one of the most knowledgeable, insightful, and value added posts i've seen on SE. Also, you're old.

Dwayne.

It is absolutely true. I had forgotten all about that incident. The funny thing is that I lived about 10 blocks away at the time and the explosion seemed to be in another country....only in New York. And no skippy is not old.

I'm not old but I saw the article in the NYT archives. http://www.nytimes.com/2007/07/21/nyregion/21gramercy.html?_r=1&scp=4&sq=32%20gramercy%20park%20south&st=cse

The building has notoriously high maintanence, probably 50-60 higher than it should be. Apartments are priced lower than in similar building because of that. It is probably due to a high underlying mortgage (which may be at an unfavorable rate) and low income from retail on 3rd Ave. A few of their store fronts are empty.

Dwayne Ouch. That hurt. I'm not old, just have a ridiculously good memory. Also I lived just a few blocks away when it occurred