The Key To Gramercy Park

by | Oct 29, 2014 | Real Estate

In the midst of Manhattan’s hubbub is a quiet, private area where residences define themselves in many ways according to a key. In fact, this key makes their residence in the area of Gramercy more valuable than their neighbors’ homes. In Gramercy Park, a key is truly a valuable thing. It is, in fact, more of a status than living in any of the nearby luxury Gramercy Park apartments NYC that are currently nearby.

What Is Gramercy Park?

Gramercy Park is a truly exclusive private park owned and operated by the residents that surround it. Abutting it are some 39 buildings that pay for its upkeep. This has been ongoing for over 180 years. The concept of a park first began in 1831 when Samuel B. Ruggles made over 2 acres of property he owned to be used as a park. It was to be ornamental and be fronted by several upscale residences. They were to pay for the care of this park.

These were the origins of Gramercy Park – an enclave of exquisite homes with access to a private park. The actual park became fenced during the 1930s. Locks were placed on the gates and the gates kept shut starting in 1844. Since then, the only way in and out of this exclusive park is through a key. With the yearly fee for park maintenance, a resident is granted two keys and two keys alone – unless it is a multiple lot. Failure to live up to the fees demanded or having the temerity to go against the trustees can result in sanctions of some sort – what exactly they are is not known since they have never been enacted.

The Keys

Having a key grants an individual the privilege of using the park. These keys were once made from gold. Today, they are made of a more practical and affordable substance – a Nichol alloy of some type. They also are coded so they can be kept track of. Every year, residences receive new ones. This prevents lost keys – for which owners are heavily fined, being used inappropriately, perhaps even by nearby residents in Gramercy Park apartmentsNYC.

To further enhance security, a key is required to let you in and out. The gates self lock upon closing necessitating this action. In this all four gates work to ensure the park remains a private sanctuary for those who have a key.

Gramercy Park Rules

With every park come rules. In Gramercy Park, they are simple and must be followed by everyone – no matter what status they hold in the community. They include:

  • No dogs

  • No alcohol

  • No smoking

  • No bicycling

  • No feeding of any living creature in the park

There are advantages to living in Gramercy. Yet, those who live in Gramercy Park find themselves with a key that raises at least their property values above those who live in any of the nearby luxury and even exclusive Gramercy Park apartments NYC condos and luxury high rises.

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