Gramercy
What to Expect
The Most Exclusive Key in New York
Known for its Victorian charm and tree-lined streets, Gramercy operates differently from much of the surrounding city. It is primarily an ownership market, characterized by historic brownstones and pre-war co-ops that are often held for generations. Consequently, rental inventory is incredibly scarce and very expensive. This low turnover helps maintain the neighborhood's community-focused atmosphere.
The crown jewel of the area is, of course, Gramercy Park itself. It is the only private park in Manhattan. Simply living in the neighborhood does not guarantee access. Entry to the park is a privilege reserved exclusively for residents of the buildings directly on its perimeter, who pay an annual fee for one of the famous keys. This "key-only" access ensures the park remains a pristine, crowd-free sanctuary, adding a significant premium to the properties that offer it.