The typical asking rate per listing is in the $90's per square foot per year. The Gramercy Park submarket is going through a an increase in rates. In the last 3 months, the median rate rose $13 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 10 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the office spaces 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 available, so finding a space for a small business might be tough.
Even though the median size is 3,060 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are close to 12 stories. 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 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.