Most listings are in the $80's per square foot per year. The Gramercy Park region is experiencing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 22 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 77% of the available leases in the Gramercy Park are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 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 area. 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.