The Real DealApril 25, 2014Suzuki Capital announced plans to convert the site of the former 21st Precinct in Gramercy into luxury condominiums. The developer purchased the property at 327 East 22nd Street, along with 7,000 square feet of air rights, for $11.5 million in early April.
The building has a storied past, and one that Suzuki hopes to capitalize on, CEO Sam Suzuki told the New York Observer. Built in 1863 as a police station, the property was later repurposed by the non-profit organization Green Chimney as a group home for LGBTQ youth.
“The history of the building and East 22nd Street are very intriguing and we plan to develop and design a boutique condo buyers will find appealing,” Suzuki said in a statement cited by the Observer.
Suzuki has not yet released details of the plan.