200E20th (CetraRuddy Architecture)
The stretch of Gramercy between Second and Third Avenues, just east of its iconic namesake park has experienced a surge of new condo developments over the past 15 years. Notable projects include the transformation of Cabrini Medical Center into Gramercy Square, the redevelopment of 250 East 21st Street (formerly Edison Gramercy), and 200 East 21st Street. The latest addition to this vibrant area is 200e20th, a handsome 85,000-square-foot project developed by the Tidhar Group and designed by CetraRuddy Architecture.
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Rising from the southeast corner of Third Avenue and East 20th Street, the 19-story tower stands out with a unique curved glass corner and a stunning facade. While many surrounding new buildings suffer from a cookie-cutter appearance, partly due to increasingly outdated zoning laws, the tower breaks from the blocky zoning envelope with a curved glass corner and an opulent bronze-colored skin with chamfered spandrels. A smattering of setbacks beginning on the 14th floor yields several outdoor terraces. There will also be a line of balconies running up the rear of the building
Although the development adheres to a strict height limit of 210 feet and is substantially hemmed in by nearby, similar-height structures, upper-floor units will have treetop views of Gramercy Park and city landmarks such as the Metropolitan Life Building, the New York Life Building, and the Empire State Building.
Although the development adheres to a strict height limit of 210 feet and is substantially hemmed in by nearby, similar-height structures, upper-floor units will have treetop views of Gramercy Park and city landmarks such as the Metropolitan Life Building, the New York Life Building, and the Empire State Building.
Facade installation (Credit Misma)
The building has just launched sales on its 52 one- to three-bedroom condominium residences, accompanied by over 4,000 square feet of indoor and outdoor amenities. According to the sales team, led by Douglas Elliman Development Marketing, the homes exude modern design and timeless sophistication, boasting floor-to-ceiling windows and carefully curated finishes.
Resident amenities include a full-time doorman, concierge, fitness center, pet spa, children’s playroom, and communal outdoor terraces on the second floor and rooftop. Additionally, there will be bike storage and 2,730 square feet of ground-floor retail space.
200E20th, #15B (Douglas Elliman Real Estate)
The offering plan was accepted in July 2023, calling for a $140 million sellout, which averages to $2.69 million per unit. The median asking price for a Gramercy condo is currently $2.695 million or $1,937 per square foot. Sponsor units naturally command higher prices. Just one block north, sponsor sales at the 2019-finished 200 East 21st Street averaged $2,034/ft², and one block east, 250 East 21st Street saw most of its units sell for over $2,250/ft².
200 East 20th Street is a half-block away from the private Gramercy Park and within walking distance to Union Square and the 6 train on 23rd Street. The neighborhood's appeal will be further influenced by upcoming projects like The Science Park and Research Campus (SPARC) in Kips Bay, the anticipated closure of Mount Sinai Beth Israel Hospital in July 2024, and the ongoing overhaul of East River Park to address sea level rise and storm surges.
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