$1.425M Gramercy Park Co-op Purchase Adds to Couple’s Collection In Townhouse

Children’s book author Sarah Kilborne sold her coop apartment in a townhouse at 1 Gramercy Park West today for $1,425,000. That’s $75,000 less than the $1.5 million asking price listed by broker Stribling and Associates.

The buyers were interior designer Sarah Story and Kenneth M. Garschina, an investor in the Internet Capital Group.

Stripling listed the co-op as a 3-room apartment, but the floor plan makes it look more like a 2-room unit with a small bathroom. The kitchen wall unit is actually in the bedroom with a Murphy bed.

Story and Garschina have quite a few transactions in the building that they seem to be cobbling together the entire townhouse piece-by-piece. In February 2007 they paid $1.25 million for a 5th floor cooperative apartment. In April 2006 they paid $3 million for the entire 4th floor. In May 2005 Ken Garschina and Sara Garschina paid $575,000 for a 5th floor coop apartment in the building.

Neighbors include Tatiana von Fürstenberg (daughter of fasion designer Diane von Fürstenberg and Prince Egon of Fürstenberg) and Barbara Baker.

The coop apartment is located in an historic 1850’s Gramercy Park townhouse formerly owned by Dr. Valentine Mott, the founder of New York University’s Medical College and Bellevue Hospital. Dr. Mott reportedly died of shock after being told of President Abraham Lincoln’s assassination.