7 Lexington Ave Apt 5E
Listing Notes
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-a-terre with income potential, Residence 5E presents a compelling opportunity in a location that consistently performs.
Price in context
Cheaper than 59% of the 17 homes listed nearby right now, which run $429,000 to $915,000.
See all 17 nearby listings
| Address | Asking | Size |
|---|---|---|
| 4 Lexington Ave Apt 2N | $429,000 | Studio · 1 ba |
| 4 Lexington Ave Apt 2N | $429,000 | Studio · 1 ba |
| 235 E 22nd St Apt 9M | $435,000 | 1 ba |
| 207 E 21st St Apt 5C | $449,995 | 1 bd · 1 ba |
| 301 E 22nd St Apt 11S | $629,000 | 1 bd · 1 ba |
| 4 Lexington Ave Apt 1M | $650,000 | Studio · 1 ba |
| 4 Lexington Ave Apt 1M | $650,000 | Studio · 1 ba |
| 81 Irving Pl Apt 11A | $699,000 | Studio · 1 ba |
| 39 Gramercy Park N Apt 17A | $725,000 | 1 ba |
| 82 Irving Pl Apt 4C | $725,000 | 1 bd · 1 ba |
| 148 E 24th St Apt 3F | $749,000 | 1 ba |
| 81 Irving Pl Apt 9H | $775,000 | 1 ba |
| 7 Lexington Ave Apt 12F | $792,000 | 1 ba |
| 235 E 22nd St Apt 12T | $800,000 | 1 bd · 1 ba |
| 50 Lexington Ave Apt 16E | $845,000 | 1 bd |
| 201 E 21st St Apt 20G | $850,000 | 1 bd · 1 ba |
| 60 Gramercy Park N Apt 6J | $915,000 | 1 bd · 1 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more