Whether the neighborhood is called “Gramercy Park” or “Gramercy”, it is generally considered to be a quiet and safe area. While real estate in Manhattan is rarely stable, the apartments in the neighborhood around Gramercy Park have experienced little turmoil. East 19th Street between Third Avenue and Irving has been called “Block Beautiful” for its wide array of architecture and pristine aesthetic. Townhouses with generous backyards and smaller apartments alike coincide in a collage of architecture in Gramercy Park. The largest private house in the neighborhood, a 42-room mansion on Gramercy Park South, sold for $7 million in 1993.
The Gramercy Park neighborhood is located in the part of Manhattan where the bedrock Manhattan schist is located deeper underground than it is above 29th Street and below Canal Street, and as a result, and under the influence of zoning laws, the tallest buildings in the area top out at around 20 stories, and older buildings of 3-6 floors are numerous, especially on the side streets, but even on the avenues.
The quiet streets perpendicular to Irving Place have maintained their status as fashionable residential blocks reminiscent of London’s West End. In 1912, a multiple dwelling planned specifically for bachelors appeared at 52 Irving Place. This handsome Colonial Revival style structure with suites of rooms that lacked kitchen facilities was one of a small group of New York apartment houses planned for single men in the early years of the 20th century.