On average, listings lease in the $60's per square foot per year. The Gramercy Park region is going through a decrease in rates. In the last 3 months, the median rate fell $28 per sqft per year. That's a 31% decrease in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 202 listings have been posted online, so you'll want to check back regularly for new listings. About 9% of the available space in the Gramercy Park are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,300 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 10 floors. Most buildings in this area were built in 1912 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Most of the residents of Gramercy Park work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Gramercy Park.
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