NEW YORK, NY – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Gramercy Court, a 43-unit residential property in Manhattan’s Gramercy Park neighborhood.
HFF marketed the property on behalf of the seller, 152-156 East 22nd Street LLC, a private family owner. An undisclosed buyer purchased the asset for $32.5 million.
Gramercy Court is located at 152–156 East 22nd Street between Lexington and Third Avenues. Originally built in 1908, the property is proximate to Gramercy Park, Madison Square Park and Union Square. In addition to the 43 residential units, which range from studio to five-bedrooms, the building also includes 1,390 square feet of retail and 18,337 square feet of air rights.
The HFF investment sales team representing the seller was led by managing directors Jeff Julien and Rob Hinckley and associate director Cindy True.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.