National Arts Club apartments on Gramercy Park to hit the rental market

June 30, 2011 12:42PM

Dianne Bernhard, acting president of the National Arts Club, at 15 Gramercy Park South

The highly coveted National Arts Club apartments at 15 Gramercy Park South are set to hit the rental market for the first time.

Dianne Bernhard, the acting National Arts Club president who replaced former president O. Aldon James following a string of embarrassing accusations against him, told Real Estate Weekly that 10 vacant apartments in the historic building are being readied for new tenants. The new tenants would pay market rates determined by an appraiser and the club’s executive committee, Bernhard said.

“If the apartments are renovated right and have a view of the park, there’s no reason why they shouldn’t rent for $90 to $100 a foot,” said Brett Solomon, an agent at Town Residential who specializes in the Gramercy Park neighborhood. Meanwhile, James pays $13,712 per year for the apartment he still has in the club.

There are a total of 35 apartments of varying sizes in the building, but it is unclear which ones will be up for grabs.

Former residents of the building include Samuel Tilden, the 25th governor of New York, Shakespearean actor Edwin Both, actor John Barrymore and circus legend Alfred Ringling; currently, actresses Julia Roberts and Kate Hudson both have homes there.

“Everyone will want to look at them, but the people who will really want to rent them will be those with a true appreciation for the history of New York,” Solomon said. “Priced right, and renovated well, I expect they’ll only last three or four days on the market.” [REW]