Gramercy Park Office Space

Gramercy Park

Office Space Market Report

Number of Listings (last 90 days)
Median Rate ($/sqft/yr)
Median Size (sqft)
As of: October 20, 2016

Gramercy Park Rates

The typical asking rate per listing is in the $90's per square foot per year. The Gramercy Park region is seeing a a boost in rates. In the last 3 months, the median rate went up $13 per sqft per year. That's a 15% rise 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 region.

Gramercy Park Listing Supply

In the last 90 days, 6 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 3,300 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 12 stories. Most buildings in this region were built in 1912 and are Class C.

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 area. 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.