7 Lexington Avenue #5E
MLS® #RLS20039033
Listing by Compass
Studio
1
Bath
N/A
Sq. Ft.
1951
Year Built
Quick Summary
Property Highlights
- Views: City
- Climate Control: Other
Property Details
Listing History
| Event | Date | Price | Change |
|---|---|---|---|
| Listed | Jul 24, 2025 | $800,000 | - |
| Price Reduced | Mar 27, 2026 | $700,000 | -12.5% |
| Currently | May 4, 2026 | $675,000 | -3.6% |
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.
Features & Amenities
Interior Features
Exterior Features
Building Amenities
Appliances
Building Information
Financial Details
About Gramercy Park
View All Gramercy Park ListingsGramercy Park is one of New York City’s most storied and architecturally distinctive neighborhoods, centered around the only private park in Manhattan. The area exudes old-world charm with its gas-lit streets and impeccably preserved 19th-century architecture. While the park itself is private, the surrounding real estate offers a mix of historic brownstones, elegant pre-war cooperatives, and boutique new developments that cater to those seeking a low-traffic urban retreat.
Gramercy Park Live Market Data
View NeighborhoodActive Listings
162
Median Asking Price
$1.50M
Median $/Sqft
$1,837
Avg Days on Market
N/A
New This Week
3
Price Reduced
24%
Sold (30 Days)
17
Median Sale Price
$1.25M
Live data from RLS at REBNY • Updated 5/4/26, 10:54 AM EST
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Location
7 Lexington Avenue #5E, Gramercy Park, New York County
Floor Plans
Building Information
Official NYC property records for this building
Tax & Assessment
Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.
Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)
Want help estimating ownership costs or understanding building compliance? Let's discuss
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Building Data
NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning. Updated quarterly.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.
All data is provided for informational purposes only and should be independently verified. See our Data Sources Policy for more information.
Frequently Asked Questions
Common questions about this property
The current listed common charges are $1,625 per month. Confirm the exact amount with the listing broker before making an offer.
The current listed annual property tax is $0, or roughly $0 per month. Verify the current assessment with your attorney before closing.
This property has 0 bedrooms and 1 full bathroom.
According to MLS records, the building was constructed in 1951, making it approximately 75 years old.
This listing is a condop, a hybrid structure where the building is legally a co-op but individual units are sold with greater flexibility, often including subletting rights similar to condos.
Pets are permitted at this property. Contact the listing broker for weight limits or breed restrictions.
To schedule a private showing, contact Milton Coste at (917) 416-7433 or [email protected]. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.
Have a question not answered here?
(917) 416-7433Listing Courtesy of Compass - ELKIN J SERNA
Listing Contact: (917) 578-9551
Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.
Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.
RLS Data display by Keller Williams NYC. Data last updated on 5/4/2026 at 2:54 PM UTC