7 LEXINGTON AVENUE · #5E
Description
Investor-Friendly Gramercy Opportunity – Immediate Subletting Permitted Welcome to Residence 5E at Park Gramercy, a rare opportunity to acquire a turnkey studio in a highly desirable, investor-friendly building in the heart of Gramercy. Unlike many Manhattan co-ops, this building allows immediate subletting after purchase, offering flexibility for investors seeking rental income from day one or buyers looking for a future primary residence with income potential. This well-proportioned studio features soaring beamed ceilings, hardwood floors, and a thoughtfully designed raised platform that maximizes functionality—ideal for efficient living and strong rental appeal. The kitchen is outfitted with stainless steel appliances, granite countertops, and slate flooring, while the layout includes three closets and a separate dressing area, a rare and valuable feature for tenants. Gramercy Park continues to be one of Manhattan’s most sought-after rental markets, driven by its central location, charming streets, and proximity to top dining, shopping, and multiple subway lines—ensuring consistent tenant demand and long-term value stability. Residents of Park Gramercy enjoy full-service amenities including a 24-hour doorman, landscaped roof deck, bike storage, and additional storage, enhancing both tenant experience and rental competitiveness. Whether you’re building a portfolio or securing a flexible pied-à-terre with income potential, Residence 5E presents a compelling opportunity in a location that consistently performs.
Price history
Every list / cut / contract / sold event we've recorded.
- price decreaseMar 26, 2026$675K-3.6%Price decreased 4%
- price decreaseJan 15, 2026$700K-6.7%Price decreased 7%
- price decreaseNov 18, 2025$750K-4.5%Price decreased 4%
- price decreaseSep 3, 2025$785K-1.9%Price decreased 2%
- listedJul 24, 2025$800K+48.1%Listed by Compass
- soldSep 27, 2011$540K+2.9%Sold by Corcoran
- closingSep 14, 2011$525K-2.8%Closing record
- no longer availableMay 23, 2011$540K0.0%No longer available
- in contractMar 22, 2011$540K0.0%In contract
- price decreaseNov 12, 2010$540K-2.7%Price decreased 3%
- listedOct 22, 2010$555K+20.7%Listed by Corcoran
- closingNov 16, 2004$460KClosing record
In-building transactions
Every recorded deed (incl. private + sponsor) for this BBL - actual prices paid.
Open violations + recent permits
DOB / HPD signals for this BBL.
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Nov 22, 2024
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Oct 25, 2019
- I§27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITED FROM CERTIFYING VIOLATIONS, AND DENIED THE RIGHT TO RECOVER POSSESSION OF PREMISES FOR NONPAYMENT OF RENT UNTIL A VALID REGISTRATION STATEMENT IS FILED.Oct 25, 2016
- PLNov 15, 2011HENRY MYERS P & H, INC
- PL-ALKLEM PLUMBING ,INC.
- MH-SIGNATURE AUDIO DESIGN LL
- MH-SIGNATURE AUDIO DESIGN LL
- OT-DNA CONTRACTING LLC
- PL-TIME MECHANICALS INC.
- OT-SIGNATURE AUDIO DESIGN LL
- OT-SIGNATURE AUDIO DESIGN LL