Market Overview for Quarter 1, 2023
Median Sale Price
28.6% YoY
Median Price/Sqft
8.8% YoY
No. of Transactions
-35.6% YoY
Manhattan Median Sale Price
-12% YoY
What is the median sale price and median price per sq ft in Gramercy Park?
Top most expensive neighborhoods in Manhattan
Gramercy Park median price compared with other neighborhoods in Manhattan
Gramercy Park property values are on the higher-end for neighborhoods in Manhattan .
Gramercy Park median price compared with all the neighborhoods in Manhattan
| Neighborhood | Borough | Median Sale Price |
|---|---|---|
| Hudson Yards | Manhattan | $5,154,250 |
| Central Park South | Manhattan | $3,851,304 |
| TriBeCa | Manhattan | $3,500,000 |
| NoHo | Manhattan | $3,037,500 |
| SoHo | Manhattan | $2,700,000 |
| Hudson Square | Manhattan | $2,437,806 |
| Carnegie Hill | Manhattan | $1,999,999 |
| NoMad | Manhattan | $1,925,000 |
| Two Bridges | Manhattan | $1,857,801 |
| NoLIta | Manhattan | $1,525,000 |
| West Village | Manhattan | $1,500,000 |
| Flatiron District | Manhattan | $1,427,500 |
| Battery Park City | Manhattan | $1,400,000 |
| Gramercy Park | Manhattan | $1,350,000 |
| Central Midtown | Manhattan | $1,200,000 |
| Greenwich Village | Manhattan | $1,198,221 |
| Upper West Side | Manhattan | $1,190,000 |
| Lenox Hill | Manhattan | $1,150,000 |
| Lower East Side | Manhattan | $1,050,000 |
| Lincoln Square | Manhattan | $1,050,000 |
| Chelsea | Manhattan | $1,050,000 |
| Theatre District - Times Square | Manhattan | $1,040,000 |
| Clinton - Hell's Kitchen | Manhattan | $980,000 |
| Chinatown | Manhattan | $970,000 |
| Financial District | Manhattan | $915,000 |
| Little Italy | Manhattan | $910,000 |
| Roosevelt Island | Manhattan | $892,500 |
| Garment District | Manhattan | $880,000 |
| Civic Center | Manhattan | $851,250 |
| Yorkville | Manhattan | $843,750 |
| Kips Bay | Manhattan | $800,000 |
| Marble Hill | Manhattan | $765,000 |
| Murray Hill | Manhattan | $760,000 |
| Manhattan Valley | Manhattan | $760,000 |
| East Village | Manhattan | $740,000 |
| Sutton Place | Manhattan | $740,000 |
| East Harlem | Manhattan | $737,000 |
| Turtle Bay | Manhattan | $695,000 |
| Morningside Heights | Manhattan | $694,000 |
| Harlem | Manhattan | $650,000 |
| Inwood | Manhattan | $422,000 |
| Washington Heights | Manhattan | $380,000 |
| Tudor City | Manhattan | $325,000 |
Residential Properties Sold in Gramercy Park
| Property Type | Median sale price | Y-o-Y | Median sale price/sqft | Y-o-Y | Transactions |
| Condos | $1.6M | -33.5% | $1K | 7.9% | 51 |
| Coops | $845K | 10.5% | $1K | 1.8% | 34 |
| Houses | $5M | - | $735 | - | 1 |
The median house sale price in Gramercy Park in Quarter 1 was relatively flat year-over-year at $5M. However, median condo prices in Gramercy Park trended down 33.5% year-over-year to $1.6M. Median coop sale price in Gramercy Park were $845K, a change of 10.5% year-over-year.
See also
Manhattan Commercial Market Trends
Manhattan Multifamily Market Trends
Manhattan Retail Market Trends
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Gramercy Park Neighborhood Guide
Despite its location in the middle of Manhattan, and the fact that it has incredible transportation options to the rest of the city, Gramercy Park has a comforting, serene vibe. Trees line the streets, charming bodegas can be found on virtually every corner, and unique cafes are sprinkled throughout this neighborhood. Native New Yorkers say that Gramercy is the only place in the country that has remained unchanged for 80 years, and while that might be an exaggeration, visiting or living in this quaint neighborhood does feel like taking a step back in time.
Architecture and landmarks
Gramercy Park Historic District is located directly in the middle of Gramercy Park and is one of only two private parks in all of New York City. Only residents around the park who pay their annual fee have access to a key and the general public is not allowed in. A portion of this neighborhood is referred to as "Block Beautiful" due to the many architectural styles and the pristine buildings. This area is truly a collage of architecture where you're as likely to see a townhouse with a huge back yard as you are to see a small apartment - and don't forget the largest private house, a 42-room mansion built in 1845 on the southern edge of the Park.
Transport
Within the neighborhood itself, Gramercy Park has two subway stations, served by the 4, 5, and 6 trains. In nearby Union Square Park, passengers can catch the N, Q, and R trains, and the L train route runs through the southern border of the neighborhood. There are numerous bus routes throughout the area.
Schools
Gramercy Park is home to several public high schools, among them Washington Irving High School, School of the Future and the Gramercy Arts High School. P.S. 40 and J.h.s. 104 are the zoned primary and middle schools, respectively. There are numerous private schools the American Sign Language and English School. High-functioning autistic children can attend the Learning Spring School, a private school funded by the Simons Foundation Autism Research Initiative.
Health
Beth Israel Medical Center is the main hospital in the area, and the Hospital for Joint Diseases, which is part of the NYU Medical Center is nearby, as is the NY Eye and Ear Infirmary. Gramercy Park is also close to a series of medical practices known as "hospital row" on 23rd Street and First Avenue.
Safety
Part of the 13th Precinct, Gramercy Park recorded 21.96 crimes per 1,000 residents in 2015. Gramercy Park Block Association monitors safety to increase street lamps, police patrols, and other safety needs.
Things to do
Gramercy Park is decidedly lacking in tourist attractions by design. Residents appreciate the laidback, quiet lifestyle in this neighborhood but that doesn't mean there aren't delicious eateries, shopping, and nightlife. Danny Meyer and Todd English are just two of the world-renowned chefs who've opened up restaurants in Gramercy, and the neighborhood's close proximity to the Flatiron District make it a popular spot to stop for a happy hour drink after work.
The closer you get to Union Square, the more bustling and busy Gramercy Park is. There you'll find a diverse shopping hub with national chains alongside niche boutiques. The parks are really what make this neighborhood special though. No matter where you are, a park is only a block or two away and there are benches adorning most side streets. With so much to see in the intricate architecture and idyllic landscaping, it's possible to spend an entire day just taking in the sights.
Residents who buy a membership get access to the super-exclusive Gramercy Park Historic District, which is one of only three private parks in the state and one of two in the city of New York. The neighborhood is served by the Epiphany branch of the New York Public Library on East 23rd Street and famous residents have long been a part of this neighborhood's scene - John Steinbeck, Julia Roberts, and Uma Thurman are just a few examples.