Gramercy Park Sublease

Gramercy Park

Office Space Market Report

Number of Listings (last 90 days)
14
Median Rate ($/sqft/yr)
$83
Median Size (sqft)
1,250
As of: January 17, 2017

Gramercy Park Rates

The typical asking rate per listing is 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 submarket has greater 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, 14 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 7% of the listings in the Gramercy Park are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 1,250 sqft. Most properties in this market are close to 10 floors. 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 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.

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