The typical asking rate per listing is in the $80's per square foot per year. The Gramercy Park submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $86 per sqft per year.
Compared to the rest of the New York City market, the Gramercy Park submarket has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 22 listings have been posted online, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 109% of the available space in the Gramercy Park are subleases, so you might be able to find a shorter term or below market rent. 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 3,130 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 10 floors. Most buildings in this market 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.