There are many things that need to be taken into consideration when you are looking at moving to the Gramercy Park area. The area, known for its quiet lifestyle and highly expensive real estate accommodations, is one of the most sought after areas to live in within Manhattan and New York City as a whole. The private park, only accessible to restaurants and businesses within the area, is one of the most prestigious private recreational facilities in all of New York. A few of the things that need to be taken into consideration when considering a move to the Gramercy Park area include;
Do You Want Access to the Park?
Individuals that live in predetermined buildings can gain access to the park area. Typically, buildings that line the streets that surround the park will be granted access to the park and receive a key to the park, for a yearly fee. For individuals that are interested in obtaining access to the park, it is important that you ensure that you seek out real estate that qualifies you to do so.
Can you Afford the Cost of Living?
The cost of living and price of real estate within the Gramercy Park are quite high. The average listing price in the area is over $2 million, with the median sales price sitting at $1.3 million. The average price per square foot is $1637. New York City is already famous for its high cost of living, and this needs to be taken into account before moving into the Gramercy Park area. You can save costs by renting an apartment in the area, which should be more affordable for a larger portion of the population.
What is the Commute Like?
Where will you be commuting to? Commuting throughout New York City is fairly easy from Manhattan and the Gramercy Park area in particular, with a large number of routes to be taken. However, if you work in portions of New York City that are quite far from Manhattan, it can take longer than an hour to commute to the outskirts of the city. It is important that you determine how long your commute will be, and whether or not a falls within your limitations.
Apartments or Townhomes
Throughout Gramercy Park, there are mostly apartments and townhomes that are available for rent. Townhomes have sprawled out from the buildings that surround Gramercy Park, opening up a lot more affordable housing to your average individual.
