Compared to the rest of the New York City market, the Gramercy Park region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 13 listings have been posted online, which means listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 15% 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,750 sqft. Most properties in this region are close to 12 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 region. Most of the occupants 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.