The typical asking rate per listing is in the $60's per square foot per year. The Gramercy Park submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 202 listings have come on the market, so you'll want to check back regularly for new listings. About 10% of the listings in the Gramercy Park are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,250 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this region are close to 7 stories. Most buildings in this region were built in 1911 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 region. Most of the folk 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.
Get email notifications when new listings are posted that match your requirements.