Zeckendorfs’ 18 Gramercy Park units, hitting the market this fall, will ask $9M to $42M

July 11, 2012 12:30PM

Informal marketing is now underway at 18 Gramercy Park, the new Zeckendorf brothers development on Gramercy Park South. Sales at the property are slated to launch in September when an onsite model apartment opens, the Wall Street Journal reported.

The 17-story building will have 16 condominiums, ranging from $9.25 million for a two-bedroom to $42 million for a duplex penthouse that has two outdoor pools, four terraces and five bedrooms.

The Zeckendorfs paid $60 million for the site, formerly the Parkside Evangeline — a Salvation Army residence for women. They went into contract for the purchase in 2007 and, following a lawsuit and a period of weak market conditions, the deal closed in 2010.

The Zeckendorfs have enlisted the help of Robert A.M. Stern for the architectural design. The developers will also be working with Eyal Ofer, an Israeli billionaire with real estate interests. All three parties came together previously for the development of 15 Central Park West. [WSJ]