Earlier this year, closing commenced at 254 Park Avenue South, a neoclassical Beaux Arts building located on the northwest corner of Park Avenue and 20th Street, in the heart of Gramercy.

254 Park Avenue South is a 13-story building with studios, one- and two- bedroom homes. Several one bedrooms have home offices, and select units incorporate a lofted area that looks out to the living and dining areas. Currently, studios range from $690,000 to $740,000, one bedrooms range from $1.3 Million to $1.995 Million and the two bedrooms range form $1.915 Million to $3.8 Million.

This 123 condominium unit pre-war building features 24 Hour concierge, private fitness center, and a 1,400 square foot social lounge equipped with a bar, billiards tables and a poker room.

Many residences feature soaring 14’ ceilings.  Kitchens come completely with Bosch stainless steel cooktops, chef’s oven, integrated dishwasher and a Miele hood. Floors and walls in the master bathrooms are also clad in stone and Kohler bath fixtures and accessories with chrome finishes create contemporary accents.  Bathrooms in most of the larger homes feature a glass enclosed shower with a rain showerhead and separate soaking tub.

In addition to the in-building conveniences, 254 Park Avenue South conveniently located steps from Gramercy Park, Union Square, and Greenwich Village. The neighborhood is also great for foodies with over 200 restaurants within a five-block radius — many owned by celebrity chefs and top rated by Michelin and Zagat — while the fashion-forward can enjoy the stretch of boutiques and shops along Fifth Avenue and the exciting nightlife of the popular neighborhood.

Investment Potential:

As we previously posted, investors looking for a great value may find better options in the city. Those looking for a great space in a great location will definitely be attracted to 254 Park Avenue South. The building seems to be selling well and as expected, these will not last long.