Gramercy Park Office Space

Gramercy Park

Office Space Market Report

Number of Listings (last 90 days)
22
Median Rate ($/sqft/yr)
$79
Median Size (sqft)
3,130
As of: March 12, 2017

Gramercy Park Rates

Most listings are in the $70's per square foot per year. The Gramercy Park region is going through 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 region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Gramercy Park Listing Supply

In the last 90 days, 22 listings have been listed, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 14% 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 3,130 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 10 stories. Most buildings in this area were built in 1912 and are Class A.

Gramercy Park Community

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 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.

Market Report

Trends and status of the commercial real estate market in Gramercy Park.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Gramercy Park.
Research