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10/01/2005
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| [Real Estate] |
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| Apartments bordering New York’s Gramercy Park are not only highly coveted, they are nearly impossible to procure. |
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Apartments bordering New York’s Gramercy Park are not only highly coveted, they
are nearly impossible to procure. Hotelier Ian Schrager’s latest residential
project, 50 Gramercy Park North, offers a rare opportunity to live in the
historic neighborhood and become a key holder to the only private park in
Manhattan.
The 23-unit building, converted from an annex attached to the
Gramercy Park Hotel (also owned by Schrager), will employ the concept of the
service apartment—a lifestyle model that has proven popular in Asia and Europe.
Though the hotel and residences are separate entities, the hotel will provide
services and amenities to the owners of 50 Gramercy Park. “We’re creating a new
genre of living,” says Schrager. “It’s not just an apartment with room service.
It’s catering to every whim owners might have—from watching a pet to going
shopping for them. The level and intensity of the hotel service make living here
effortless.”
 “I own up to being a minimalist,” says John Pawson, archi-tect of 50
Gramercy Park North. Pawson also designed the interiors of this 11th- floor
residence. (Click image to enlarge)
Schrager tapped English architect John Pawson to create the
airy, modern living spaces, all of which have colossal north/south windows with
180-degree views of the city. No two units are the same; each has a range of
bedrooms and varies in size from 2,000 square feet upward. “You shouldn’t be
able to lose when you’re working on a building on Gramercy Park,” says Pawson,
the high priest of minimalist living. “But it’s easy to mess it up.
Architecturally, it’s more what you don’t do than what you do.” Natural
materials were used throughout the space: Floors are white oak and kitchens
(mindfully designed as gathering places) are covered in cherry wood. Pawson also
custom designed many of the unit’s fixtures. “It’s a very handsome building,” he
says.
“We wanted to make something that would let the light of New York do
all the work,” says Schrager, who estimates that construction on the property
will conclude in January 2006, with the renovation of the hotel to be finished
in April 2006. Units are priced between $5 million and $16 million, and
though the sales office opened just this past April, only a handful of units
remain unclaimed.
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