Most listings are in the $80's per square foot per year. The Gramercy Park submarket is seeing a an increase in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 5% rise in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 22 listings have been made available, which means listings might be 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 3,130 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 10 floors. Most buildings in this area were built in 1912 and are Class A.
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.