Gramercy Park Neighborhood Guide

01 / Boundaries

Where is Gramercy Park? Boundaries and ZIP codes

The Gramercy neighborhood is bounded by 14th Street on the south, First Avenue on the east, 23rd Street on the north and Park Avenue South on the west. Irving Place runs from the south side of the park down to 14th Street, and Lexington Avenue begins at its north side. Neighborhood boundaries in New York City aren't officially set, so listing sites may draw them differently.

Gramercy is mostly in Manhattan Community District 6, with a small part in Community District 5. Addresses use ZIP codes 10003 and 10010.

02 / History

A short history: the private park and the historic district

The name is an anglicization of Crommessie, from the Dutch *Krom Moerasje*, "little crooked swamp." In 1831 the developer Samuel B. Ruggles bought the land, then a farm, drained the swamp and set aside the park, surrounded by building lots; the park was fenced in 1833, and construction on the surrounding lots began in the 1840s. Since December 31, 1831, the park has been held in common by the owners of the surrounding properties. The New York City Landmarks Preservation Commission designated the Gramercy Park Historic District on September 20, 1966, and extended it on July 12, 1988. 34 Gramercy Park East is the oldest existing co-operative apartment building in the city.

03 / Housing

Gramercy Park apartments: co-ops, condos and rentals

Co-ops

Much of Gramercy's housing is in pre-war co-ops, from early apartment houses around the park to larger buildings along the avenues. Co-ops require board approval and a full financial package, and many limit financing, subletting or pied-à-terre use. If you're buying from abroad, co-op boards often ask for U.S. financial history, so it's worth checking a building's policies early. Glenn can walk you through the difference in English, Spanish, Italian or French.

Condos

Condos are less common, in conversions and newer buildings. They're usually simpler to buy, with no board interview, which suits international and pied-à-terre buyers.

Rentals

Rentals range from walk-ups in older rowhouses and tenement buildings to elevator buildings along 23rd Street and the avenues, plus condo and co-op apartments rented by their owners.

04 / Market snapshot

Gramercy Park real estate market, September 2026

These figures come from public data sources, each measured differently, so read them as a range rather than a single price:

StreetEasy's median asking price rose to $1,475,000 in September from $1,325,000 in August; it had stayed between $1,275,000 and $1,325,000 since April. Its median asking rent has held between $5,350 and $5,500 since April 2026. Redfin's median sale price is up 18.7% from a year earlier. Whether you're weighing Gramercy Park apartments for sale or for rent, Glenn can pull recent comparable sales and rentals for the building you have in mind. If you already own in Gramercy Park, you can request a free valuation.

05 / Subway lines

Getting around: Gramercy Park subway lines

• 23 St (6), at Park Avenue South
• 14 St–Union Square (4, 5, 6, L, N, Q, R, W), just west of Park Avenue South
• 3 Av (L) and 1 Av (L), along 14th Street

06 / Parks, libraries and landmarks

Parks, libraries and landmarks

Gramercy Park itself, about 2 acres between East 20th and East 21st Streets, is one of two private parks in New York City; only keyholders may enter, and the public is not generally allowed in. Two keys are allocated to each of the original lots around the park, and the sidewalks around it are open to everyone. Stuyvesant Square is nearby, and Union Square is just to the west. The New York Public Library's Epiphany Library is at 228 East 23rd Street.

07 / Public schools

Public schools

Public schools. School zones vary by address. Check any address with the NYC Department of Education's school search (opens in a new tab).

08 / Recently sold

Recently sold in Gramercy Park

300 East 23rd Street, Unit 7A

(opens on Compass in a new tab)

09 / Buying or renting with Glenn

Buying or renting Gramercy Park with Glenn

Buying or renting in Gramercy Park comes down to understanding the building: co-op board requirements, what the maintenance or common charges cover, whether an apartment comes with access to the park, and how a particular apartment compares with similar ones nearby. Glenn handles that work for buyers, sellers and renters. As part of the M Team at Compass, he specializes in international buyers and investors, condos, co-ops and rentals, and he works in English, Spanish, Italian and French.

Planning a purchase? Start with the Buyer's Guide. Looking to rent? The Renter's Guide covers documents, income requirements and applications. Then contact Glenn at 929.392.3707 or glenn.velasco@compass.com.

10 / FAQ

Gramercy Park FAQ

What are the boundaries of Gramercy Park?

The Gramercy neighborhood runs from 14th Street to 23rd Street between Park Avenue South and First Avenue. The park itself sits between East 20th and East 21st Streets. Neighborhood boundaries in New York City aren't officially set, so other sources may differ.

What ZIP codes are in Gramercy Park?

Gramercy addresses use ZIP codes 10003 and 10010.

What subway lines serve Gramercy Park?

The 6 stops at 23rd Street and Park Avenue South, the L stops at Third Avenue and First Avenue, and the 4, 5, 6, L, N, Q, R and W stop at 14th Street–Union Square, just to the west.

What is the average rent in Gramercy Park?

StreetEasy doesn't publish an average, but its median asking rent for Gramercy Park was $5,495 a month in September 2026, within a range of $5,350 to $5,500 since April. Half of the listed apartments asked more and half asked less, and studios and larger apartments sit far apart, so the right number depends on the size and building you want.

How much does it cost to live in Gramercy Park?

StreetEasy's September 2026 data shows a median asking price of $1,475,000 and a median asking rent of $5,495 a month. Redfin reports a median sale price of $1,139,681 for the three months ending September 2026. The median asking rent is the closest public measure of the average rent in Gramercy Park. Prices vary widely by building and apartment, so ask Glenn for recent comparable sales.

Can you go inside Gramercy Park?

Gramercy Park is private, and only keyholders may enter. Two keys are allocated to each of the original lots around the park, and the public is not generally allowed in. If park access matters to you, ask about it for the specific building before you buy or rent.

Can Glenn Velasco help me buy or rent in Gramercy Park in Spanish, Italian or French?

Yes. Glenn Velasco is a Licensed Real Estate Salesperson at Compass who works with buyers, sellers and renters in English, Spanish, Italian and French, including international buyers. Reach him at 929.392.3707 or glenn.velasco@compass.com.