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Penthouse at Gramercy Park sold for $17 mil

A freehold, 5,533 sq ft penthouse at Gramercy Park in prime District 10 fetched the highest sale price of $17 million ($3,073 psf).

Located in the South Tower, the property is one of 4 penthouses in the 170,000 sq ft Gramercy Park, and the second penthouse in the development sold so far.

The 174-unit freehold luxury condominium was developed by listed property giant City Developments (CDL) and comprises 2 towers with 87 units each. The project obtained its Temporary Occupation Permit last year.

Units in North Tower were sold at an average of $2,600 psf, and so far 86% of the units have been snapped up. All the 2-bedroom- plus-study units have been sold. Phase 2 of Gramercy Park, 47% of the units in the South Tower have been sold, at a higher average price of $2,800 psf.

– 21 July 2017

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