The Real Deal New York

Penthouse at Cabrini Medical conversion to ask $33M

Sellout at Chetrit and Bistricer's Gramercy Square would net $754M
July 02, 2015 04:50PM

Prices at Joseph Chetrit and David Bistricer’s residential conversion of the fomer Cabrini Medical Center in Gramercy Park have been revealed, with the project’s most expensive unit asking $33 million.

A sellout at the four-building, 223-unit development, known as Gramercy Square, would net $754 million. The developers — the Chetrit Group and Bistricer’s Clipper Equity — acquired the property from Memorial Sloan-Kettering Cancer Center for $150 million in 2013, with condo units expected to hit the market this summer.

Asking prices at the project’s largest building, a 140-unit property at 215 East 19th Street, start at $1.2 million for a 640-square-foot studio and range up to $33 million for a 7,120-square-foot penthouse that also features 5,380 square feet of outdoor space, according to Curbed.

Eight full-floor apartments at 220 East 20th Street will start at $5.4 million for a 2,247-square-foot, three-bedroom unit, and peak at $8.25 million for a four-bedroom, 3,528-square-foot penthouse with a 2,503-square-foot terrace.

Prices at the 54-unit 225 East 19th Street will range from $885,000 for a 543-square-foot studio to $7.5 million for a three-bedroom, 2,684-square-foot penthouse featuring 1,432 square feet of outdoor space.

Another 54-unit building at 230 East 20th Street will have asks starting at $1.3 million for a 638-square-foot, one-bedroom apartment and ranging up to $11.95 million for a four-bedroom, 4,495-square-foot penthouse featuring a 2,697-square-foot terrace.

Renderings for Gramercy Square were released earlier this year. [Curbed] — Rey Mashayekhi