7 units for sale at 50 Gramercy Park North

There are seven units for sale at the 20-unit Gramercy Park North, which is part of the Gramercy Park Hotel. Brokers say the unusually large number of resales in the building reflects the weak economy and a new aversion to ostentatious wealth. One of the units for sale in the building is a 4,235-square-foot duplex on the market for $25 million. The Corcoran Group’s Tim Cass, the unit’s listing agent, said the penthouse has been priced to be competitive with a slightly smaller unit at Palazzo Chupi, at 360 West 11th Street, which, after several price cuts, is on the market for $22 million.