Most listings are in the $70's per square foot per year. The Gramercy Park region is going through a decline 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 higher 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 new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the listings in the Gramercy Park are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,130 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are around 10 floors. Most buildings in this region 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 area. 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.