The Rise, Fall, and Rebirth of the Iconic Gramercy Park Hotel

Few addresses in Manhattan carry the mystique of the Gramercy Park Hotel—a storied landmark bordering the city’s only private park. Since opening in 1925, the hotel has embodied the intersection of New York luxury, celebrity culture, and downtown edge. Over the decades, it played host to icons like Humphrey Bogart, Bob Dylan, and Madonna, evolving from bohemian haven to boldface destination under the 2000s revamp by Ian Schrager and Julian Schnabel.

Photo credit: A Hotel Life

But behind the velvet curtains, controversy simmered. During the pandemic, financial disputes halted operations, and in 2022, the hotel’s lease was revoked amid a legal battle between landlord Solil Management and operator Aby Rosen’s RFR Realty. Furnishings were auctioned, and the once-glamorous Gramercy Park Hotel was left shuttered.

Now, a new chapter is on the horizon: MCR Hotels has acquired the building for $50 million, with plans to reopen in 2025. As the only hotel to ever offer guests a key to the exclusive Gramercy Park, its return marks one of the most anticipated hotel comebacks in New York City.

Stay tuned—because in Manhattan, legends never fade.