11 Gramercy Park So. sold for $1.5 M - County Dollar Corp./Broadway Management Co. sells five-story building for $1,455,000 to John 'Jellybean' Bennitez, music producer

Real Estate Weekly, August 26, 1992

In an all cash transaction valued at $1,455,000, 11 Gramercy Park South has been sold to music producer John "Jellybean" Bennitez.

The property, is a five-story, 26-foot wide structure which was originally constructed as a grand single family home at the turn of the century. Neighboring properties include The Players Club and The National Arts Club. Gramercy Park, is a private park controlled by an association of neighboring building owners. 11 Gramercy Park South is included in that association.

The seller of the property, County Dollar Corp./Broadway Management, represented by Edward J. Winslow, Jr. of Massey Knakal Realty Services, Inc., purchased the property in 1990 for a multiple dwelling condominium conversion. In a recent restructuring effort, County Dollar Corp. hired Massey Knakal to market and sell the property. Winslow stated that, "this sale will be significant for the entire Gramercy Park area because Bennitez is planning an historic restoration of the property which will be in keeping with the quality of the neighborhood. The properly has been in need of repair for an extended period of time."