Gramercy Park

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  • 123 E 21st St New York City New York 10010 United States
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1REC's Take
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1REC's Take
Pros

✔ Exclusive residential area ✔ Beautiful private park ✔ Historic architecture

Cons

✘ Limited commercial spaces ✘ Expensive rent ✘ Strict access to the park

Shopper Profile

✦ Affluent Residents: High-income families and professionals ✦ Tourists: Visiting historic park ✦ Preferences: Upscale dining, boutique shopping, cultural activities

Successful Retail Uses:
Upscale Dining, Boutique Shops, Cultural Venues
About Location
An enclave of elegance, Gramercy Park’s exclusivity is unparalleled, thanks to its private park. The area is frequented by the well-to-do, seeking its sophisticated boutiques and esteemed eateries. The rental market mirrors its elite reputation, and properties are often in the hands of longstanding local landlords, with some institutional interest.
Household Income in Trade Area: $110,000
Retail Sales in Trade Area: $720 million
Population in Trade Area: 100,000
Occupancy
Tenant Sales per Square Foot: $800
Occupancy Rate: 90%
Anchor Tenants: Gramercy Theatre, ABC Carpet & Home
Tenant Rent/Sales Ratio (%): 18.75% – 37.5%
Rent $ / Visitor (relative cost of the foot traffic): $33.75 – $67.5
Other Notes: Data sourced from public and private records.
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Know Before You Go
Preferred ISP(s)
Spectrum, Verizon
Estimated Permit Timeline (weeks)
6-8
Landmarks Risk
High
Union Labor Disharmony Likelihood
Medium
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Primary Landlord: NYC
Retail Type: Streets & Neighborhoods
Address: 123 E 21st St
New York City
New York
10010
United States
MSA: New York-Newark-Jersey City NY-NJ-PA

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