How many apartments for rent does Gramercy have, given how much of it is landmarked?
Gramercy adds very few new apartments, because so much of it is protected. The Gramercy Park Historic District, designated in 1966 and extended in 1988, covers the park and the blocks along East 20th Street and Irving Place, where townhouses and early apartment houses cannot be demolished or built up without landmarks approval. Most rentals therefore come from existing stock: prewar co-ops whose owners sublet, postwar doorman buildings on Second and Third Avenues, and walk-ups in between. Next door, Stuyvesant Town and Peter Cooper Village add a large pool of stabilized apartments on their own lease terms. Roomster's count stands at 2 Gramercy apartments for rent today, and with so little new construction, turnover in existing buildings sets the supply.
What does it cost to rent an apartment in Gramercy right now?
Published averages for Gramercy disagree more than usual, because a handful of full-service buildings with high asking rents pull some surveys up. Studios have been quoted anywhere from about $3,600 to $5,000 a month, one-bedrooms from about $4,650 to $6,600, and two-bedrooms from about $5,500 to $7,900. A park-facing prewar one-bedroom and a fifth-floor walk-up near First Avenue share a label but not a price. Studios under $3,500 a month turn up mainly in older five- and six-story buildings on Second Avenue and in Kips Bay just north of 23rd Street, while townhouse floors and full-service buildings near the park set the ceiling. Stabilized apartments, where you can find one, usually rent below all of these market figures.
Are there rent-stabilized apartments for rent in Gramercy, and what did the 2026 rent freeze change?
Yes, and they matter here, because the neighborhood is full of elevator buildings put up before 1974, and Stuy Town next door is stabilized in full. On June 25, 2026, the Rent Guidelines Board voted 7-1 for a 0 percent increase on both one- and two-year stabilized leases starting from October 1, 2026 through September 30, 2027, the first two-year freeze in its history, so stabilized leases beginning in that window carry no guideline increase. Market-rate apartments are different. Many fall under the state's Good Cause Eviction law, where increases beyond 8.38 percent, the standard as of May 2026, are presumed unreasonable, but units renting above $6,505 for a one-bedroom or $7,130 for a two-bedroom fall outside it, and plenty of Gramercy apartments do. Ask the landlord for the unit's rent registration history before you sign.
Are there apartments for rent near the 6 train and Union Square in Gramercy?
Yes, and the closer you rent to Park Avenue South, the more of the system you can reach on foot. Apartments near 23rd Street and Park Avenue South sit on the 6, a few stops from Grand Central and Midtown East, and a walk south to 14th Street-Union Square opens up the 4 and 5 expresses and the L to Williamsburg. Further east, apartments near First Avenue trade subway access for a short walk to the East 34th Street ferry landing, useful for anyone commuting to Long Island City or the Brooklyn waterfront. Expect a rent premium within two or three blocks of Union Square and a modest discount near the East River, where the M15 and M23 buses carry most commutes.
What should I know before I rent an apartment in a Gramercy co-op?
Many Gramercy rentals are units in prewar co-ops whose owners sublet, and that adds a step you will not meet in an ordinary rental building. The co-op board usually has to approve you, which can mean a separate application, a board package with financial statements and sometimes an interview, and approval can take several weeks. Boards also commonly cap how long an owner may sublet, so ask whether a renewal will be possible before you plan on staying. Some buildings charge move-in fees or deposits on top of rent. Since June 11, 2025, the FARE Act has kept the fee for a broker the owner hired off your bill, and the security deposit you pay the owner is capped at one month's rent.
Can I rent a furnished apartment in Gramercy for a hospital rotation or a semester?
Yes, though the legal minimum matters more than the furniture. Furnished apartments are common here because of the steady flow of visiting physicians and nurses on First Avenue, graduate students and corporate relocations, and they are usually leased by the month at a premium over an unfurnished unit. Under New York City's short-term rental rules, a whole apartment cannot be rented for under 30 days, since the host has to live there during the stay and be registered with the city, so a furnished rental should run a month or longer. For a rotation of three to six months, look for a co-op owner's sublet or a corporate furnished building rather than a nightly listing, and get the end date, the notice period and who pays utilities in writing.
