Gramercy Stark

I'm not sure all of those would be the reasons to avoid. The M-L and the methadone clinic are both non-events. I've lived in the neighborhood for twenty or so years. Really, no issue in the last ten or so years. Also, keep in mind that a given neighborhood, while it is definitely starting to matter again, definitely does not matter as much as it did 10 years ago.

McDonalds, that's another issue. It does seem kind of odd to buy a ubertrendy apartment (sort of an oxymoron on E. 23rd to begin with) overlooking a McDonalds.

My spouse and I walk by here every day and we were just thinking that McD's was not going to move back in (not clear where the space is?). The CVS is clearly returning though.

I didn't realize the ML was there, and the methodone clinic, as far as I knew, is several blocks up. My biggest concern would be the noise level on 23rd. Personally, if I had the money to afford a place like that, I would look elsewhere.

I seems that this building will be another victim of the fringe condo craziness... anybody thinking of buying in it now?

Going to be a very tough sell in this market.

Gramercy Park section has always been nice an exclusive. If you can hey do it.

Entertaining to look back just 8 months ago and see the rationalizations bubble fever causes. The meth clinic is not a problem!

The location is awful. 23rd street is really noisy, and that area is pretty grimy. Plus, who wants to live in a building that has a McDonalds? I guess that's NYC's definition of "luxury" living.

The current pricing on this building is waaaaaay out of wack with the market. Did you see the $1.5M 660 sqft one bedroom?????

The developers/owners are in big trouble on this bubble property - I count approximately 20 two bedrooms that were never sold.

-fire sale to come in 09. I cant wait for the Q4 08 numbers to come out and give people a reality check!

I went to this open house today to see the penthouse apartment. What an utter disappointment.

The kitchen was more or less laughable, built for people who dont expect to live there full time. There square footage and structure of rooms are questionable. The lack of storage in the apartment was frustrating.

The only positive I saw was, my expectation on location was so bad that I ended up being positively surprised because it was somewhat quiet this afternoon.

I was somewhat frustrated that I wasted cab fair. That's how bad it was.

For 2.7, I was expecting a lot more.

^ you are viewing a 2.7million dollar unit and cab fare bothers you? go figure... lol

This place was one of those where the whole presentation was off-putting and didn't bode well.

For starters, using Gramercy Park as a come-on, when the place is at 1st and 23rd, as if they're marketing to morons.

Then in the ad for PH4D, they spell their big selling point's name two different ways, both of them incorrect.

Just be glad you didn't pay the original ask of $3.670,000. How would you feel if you bought one of the other PH's and now the sponsor has undercut your value in a serious way.

Another example of conceited, barely literate brokers spewing misinformation.. i also saw a PH overlooking the oh-so-sad nearby Hospital, which they were portraying as the best 3 bedroom PH in Manhattan.
Not clear why they always think that they are dealing with morons, as NWT said.. unless the problem stems from the view point
Let me simmer in their own broth.. and walk away, maybe leaving a seriously low ball

Clearly no basis for pricing the apartment. 3.7 or 2.7 both equally randomly expensive.

"Another example of conceited, barely literate brokers spewing misinformation." I have to admit, the broker the worst I've experienced. Good feedback to the owner would be to move elsewhere.

Well the basis on the big penthouses is what was paid for both.

PH4B and PH4D are identical. PH4b could be seen as more desirable with a south and west terrace vs Ph4d which is north and east.
Ph4b has a contract date of January '07, the height of lunacy, and closed for 3,321,718 in April of '08.

PH4D is either an attempted flip, an investment gone wrong or whatever as it was bought in April '09 for 2,363,188.
I suspect it's current ask of 2,750,000 is to leave a little wiggle room to cover the ill advised purchase, taxes paid, and brokerage.
Currently offered for rent at $9,999 with no apparant takers would suggest even 2 million is too much (200 times monthly rent).

It really is a pretty bad location, calling this gramercy park is laughable.

Still it is a brand new building, and given all the negative aspects as outlined by others on the thread, I'd have to think if the floorplans are reasonably accurate, this apt could rent for $8000 per month. And based on that I wouldn't pay a dime over $1,600,000 for it.

I live here and this building is overpriced and filled with bad neighbors. I guess that is what you would expect from investors who bought at the height and are now desperate to rent it to anybody. The building is overran with 20 somethings looking to turn the building into their personal frat house. So if you don't mind marijuana odors filling the building on most weekends and drunks talking to your kids in the elevator, then this is the place for you. Oh and of course the 24hr McDonald's and CVS would especially appeal to all those that enjoy late night company.

On a positive note, this building is well managed and the staff do amazing work to keep everyone happy.

Had a friend look at a unit for rent here and ran the hell away.

BTW, made a mistake on that PH purchase. Though the transaction amount says $2,363,188. The mansion tax paid on this property corresponds to a sale price of $2,126,869.

Shshhshshady..