The typical asking rate per listing is in the $80's per square foot per year. The Gramercy Park submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the New York City market, the Gramercy Park submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 17 listings have come on the market, which means listings might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 18% 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 2,550 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are close to 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.