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55Units
14Stories
2009Year Built
$666K - $1.6MValue Range
Available Units
For Sale
For Rent
Highlights
Concierge
P.S. 116 Mary Lindley Murray Rated A-
Rooftop Deck
City View
Elevator
Bike Room
Boutique condo with automated parking garage
Certain facts about the glass-fronted One48, finished in 2011, are clear. The boutique condo contains 55 units among its 14 stories and was developed by ADG Langsam. Less clear is the condo’s location. The developer, various media sites and most agents put it in Gramercy. Some agents say NoMad. A small number of agents call this area Rose Hill, but that name is a bit archaic. “An Extremely Detailed Map of New York City Neighborhoods,” a New York Times interactive map that polled locals on what they called a particular address, shows that most consider this location Kips Bay. Kay Moon, an associate broker with Corcoran, agrees. “For people who are looking in Gramercy Park, this building might not show up [on listing sites],” she says, explaining that not as many people are familiar with Kips Bay when searching online.
Despite the confusion, this is an in-demand area. Due to the condo’s proximity to colleges, it’s not uncommon to find parents buying for children here, and about half are rentals. Moon considers the condo an affordable starter home, considering its numerous amenities. In fact, One48 stands apart as one of a small number of NYC buildings with an automated parking garage.
Not least, Moon points out how One48 differs from other housing options with its sleek, low-profile exterior, considering prewar co-ops populate much of the surrounding areas.
Minimalist design with floor-to-ceiling windows
Due to the condo’s young age, many units retain their original custom touches. “It still feels like a brand-new apartment,” Moon says about units. Interior designer Penelope Kim chose a minimal decor scheme and incorporated finishes from ADG’s high-end subsidiary brands. For example, open kitchens feature white, self-closing cabinets, quartz counters, glass backsplash, Fisher & Paykel appliances, a built-in microwave and wheeled island. Primary baths have a soaking tub, large rain shower head, walnut vanity and porcelain tiles. Powder rooms mix it up with travertine floors and lacquer vanities. Other common elements include floor-to-ceiling windows, central air, 9-foot ceilings and white oak floors. Regardless of the size, some units on the higher floors also have a spacious balcony and washer/dryer; otherwise, existing hookups facilitate adding them. Moon adds how the condo’s location on 24th Street is quiet compared to busy 23rd Street.
Floor plans range from studios to two bedrooms. Studios and one-bedrooms are the most common; the former offer 400 to 585 square feet, with one selling for $635,000 in 2024. One-bedrooms range from 585 to almost 800 square feet. The last one sold in 2023 for $925,000. A small number of two-bedrooms with two baths are available on the top floors and offer around 1,000 square feet. The last two-bedroom sold in 2022 for $1.5 million.
Rare automated parking garage offers rental spots
It’s not a given for newer condos to offer on-site parking, and it’s rare for a building to have an automated parking garage. Essentially, this is a car elevator programmed to park cars in a specific spot. Cooperator News, which covers the city’s condo and co-op community, highlighted the first automated garage in NYC, which opened in Chinatown in 2007. The current number of automated garages is elusive, but it remains an unusual, albeit desirable, feature. The roof deck is another highlight, featuring views of the Empire State Building. It’s also furnished with tasteful lounge chairs, with seating areas and a dedicated grilling area. Additional amenities include a laundry room, 24/7 doorman and live-in super. “The super is super nice and the doorman treats residents and guests like they are family,” says Moon. Of note, the original media room is now a fitness center, plus there’s storage for bikes and belongings.
Downtown epicenter near restaurants, essentials and entertainment
This sought-after downtown location is surrounded by action, from restaurants and comedy clubs to bars and bookstores. Arguably, most needs exist within a 10-minute walk, but there’s no shortage even closer. These include Whole Foods and a dizzying array of restaurants. Of those, Korean fusion hot spot Coqodaq and Michelin-starred Eleven Madison Park are within strolling distance. Plus, many Indian restaurants cluster along Third Avenue. Both 23rd and 14th streets are major corridors populated with chains. Nearby parks include Madison Square, filled with rotating art installations and Union Square, home to a year-round farmer’s market. Baruch College is across the street, while the NYU School of Medicine, NYU College of Dentistry and the School of Visual Arts are close. Bellevue and NYU Langone hospitals are a short walk for employees.
Good train access
The 6 train at 23rd Street and Park Avenue South is around the corner and the R and W lines are a block further west. The F and M trains are at Sixth Avenue, along with PATH trains to New Jersey making stops between Penn Station and World Trade Center. Buses navigate along 23rd Street and up and down the avenues. Drivers are close to FDR Drive for heading out of town.
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Quantarium
Current List Price
Sold Price
Area Factors
Moderate Crime
Crime Score®
5/ 10
Biker's Paradise
Bike Score®
92/ 100
Walker's Paradise
Walk Score®
100/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Madison Square Park
6 min walk
Dog Park
Picnic Area
Playground
Peter's Field
7 min walk
Basketball
Multi-Purpose Field
Augustus St. Gaudens Playground
8 min walk
Basketball
Playground
Vincent F Albano Jr Playground
8 min walk
Playground
Bellevue South Park
8 min walk
Basketball
Dog Park
Volleyball
Stuyvesant Square
10 min walk
Dog Park
Trails
Events
Asser Levy Playground
11 min walk
Union Square Park
11 min walk
Dog Park
Picnic Area
Trails
St. Vartan Park
15 min walk
Baseball/Softball
Basketball
Football
Schools
Source:
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