Gramercy Park Retail

Gramercy Park

Office Space Market Report

Number of Listings (last 90 days)
13
Median Rate ($/sqft/yr)
$83
Median Size (sqft)
1,750
As of: January 23, 2017

Gramercy Park Rates

Most listings are in the $80'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 $7 per sqft per year. That's a 7% decline 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, 13 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 8% of the available leases in the Gramercy Park are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet on the market, 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 buildings in this market are approximately 10 floors. Most buildings in this region 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 region. 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.

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