Large corner alcove studio, bright, airy and quiet, with sunny south and east exposure from oversized windows on the 9th floor with treetop views of Gramercy Park. Generous 20 X 13 living room opens to a 9 X 9 alcove that perfectly accommodates a queen bed or large dining table. White kitchen and bathroom, ample closet and storage areas, spacious 6.5 X 8 entry foyer and dressing room leads to the bathroom. The Park Gramercy is a full-service condop in an unbeatable central location, steps from Gramercy Park and the #6 train and across from the Gramercy Park Hotel. The building has a full-time doorman, resident super, a central laundry room, a bicycle storage room, a beautifully planted roof deck and is pet-friendly. The building has a lenient board that welcomes overseas buyers purchasing homes as pied-a-terre or investment and parents buying for children. The approval process, as in a condominium, is the waiver of the right of first refusal with no board interview. This is an investor-friendly building with no term limits on renting and no minimum down-payment requirement for purchasing.
Located from 24th St. to Union Square, and from 5th St. to 1st Ave., this chic neighborhood was once home to Edith Wharton, Theodore Roosevelt, and Eugene O’Neill. The Gramercy neighborhood surrounds the only private park in New York, Gramercy Park, positioned between 20th and 21st streets. One look through Gramercy Park’s high railings will reveal a spacious garden and beautiful statues. One notable statue is of actor Edwin Booth in the role of Hamlet. In 1888, Booth founded the influential Players Club at 16 Gramercy Park. Beyond the Players Club, Gramercy is also home to many great restaurants and shops.
With the recent unprecedented rate cut by the Federal Reserve, banks have been inundated with people looking to take advantage of lower interest rates. Because of the overwhelming demand, we have not yet seen a huge reduction in mortgage rates. While we aren’t there yet, it is likely that we will see a dramatic shift in the upcoming months, which raises the question, “What does a 1 point difference in interest rate do for my bottom line?”Read more