Buzz Buzz HomeApril 25, 2014A former precinct station house in Gramercy Park will be transformed into luxury condominiums.
327 East 22nd Street will be converted by Suzuki Capital into a seven-story, 10-unit building. Two of the ground-floor residences will have adjoining backyards. The project between First and Second avenues will be designed by Philip Johnson/Alan Richie Architects and Crown Design.
Built as a police precinct in 1863, the five-story structure was originally designed by NYPD architect Nathaniel Bush. The building was home to the former 21st Precinct (renamed the 13th Precinct), which moved to a new location on East 21st Street in 1952. Most recently, 327 East 22nd served as a youth group home, dubbed Gramercy Residence at Ungar House, the New York Observer reported.
Green Chimneys, the Brewster, NY-based nonprofit operating the group home, paid $1.7 million for the property in 1998. Late last year, the building traded to Suzuki Capital for $11.5 million, according to the New York Observer. The deal, which closed earlier this month, included 7,000 square feet of additional air rights.
CORE’s Tom Postilio, Mickey Conlon and Natalie Rakowski will lead sales for the building.