The Gracie Condominium was a conversion of a three-unit apartment building into a new four-unit condo building. Lock7 purchased this property at a bankruptcy auction from the previous owner. The building had been neglected for decades and was in a significant state of disrepair. To rehabilitate the building, everything was demolished except the front brick wall. A new fourth floor with mezzanine was added and the basement underpinned to achieve greater ceiling heights.