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NYC Neighborhood Comparison
Manhattan
Brooklyn
For buyers focused on affordability, Gramercy Park has the lower median sale price at $730K vs $850K in Prospect Park South.
Investors analyzing rental yield will find Gramercy Park offers a stronger rent-to-price ratio based on current market data.
| Metric | Gramercy Park | Prospect Park South |
|---|---|---|
| Median Sale Price | $730,000 | $850,000 |
| Median Condo Price | $1,480,000 | $625,000 |
| Median Co-op Price | $650,000 | $615,000 |
| Median Rent | $5,350 | $2,990 |
| Active Listings | 230 | 27 |
| Rental Inventory | 267 | 76 |
| Days on Market | 65 | 50 |
| Price Cut Share | 14.8% | 11.1% |
| Monthly Sales Volume | 21 | 5 |
| YoY Price Change | -21.5% | -26.7% |
| YoY Rent Change | +1.0% | +4.9% |
| YoY Inventory Change | +6.0% | +12.5% |
| Subway Lines | N/A | N/A |
Prices in Gramercy Park moved -21.5% over the past year, compared to -26.7% in Prospect Park South. Both markets have seen price softening, with Prospect Park South declining more sharply over the measured period.
Gramercy Park is one of New York City’s most storied and architecturally distinctive neighborhoods, centered around the only private park in Manhattan. The area exudes old-world charm with its gas-lit streets and impeccably preserved 19th-century architecture. While the park itself is private, the surrounding real estate offers a mix of historic brownstones, elegant pre-war cooperatives, and boutique new developments that cater to those seeking a low-traffic urban retreat.
View Full Market ReportProspect Park South is a designated New York City historic district featuring over 200 architect-designed homes in Queen Anne, Tudor Revival, Colonial Revival, and Italianate styles, many with spacious front yards and original period details. The B and Q trains stop at Parkside Avenue and Prospect Park stations, placing Downtown Brooklyn and Manhattan within easy reach. The neighborhood borders Prospect Park's southern edge, providing direct access to 526 acres of green space including the Parade Ground's athletic fields.
View Full Market ReportNo subway data available
No subway data available
Listing data is derived in whole or in part from the RLS at REBNY (Real Estate Board of New York) Internet Data Exchange (IDX) database. Real estate listings held by brokerage firms other than Milton Coste | Keller Williams NYC are marked with the RLS logo. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is refreshed every 15 minutes per REBNY IDX requirements.
From the 2008 financial crisis through the 2020 pandemic, the NYC metro Case-Shiller composite fell about 25% peak-to-trough between 2007 and 2012, then fully recovered by 2017 and gained another 15% through Q1 2020. Gramercy Park and Prospect Park South both tracked this broader NYC arc, with annual closing volume contracting sharply in 2009 and again in Q2 2020 before normalizing.
Gramercy Park tracked the more resilient Manhattan price path with a 10% to 15% peak-to-trough decline, while Prospect Park South moved closer to the broader NYC metro pattern of a 20% to 25% retracement before recovering through 2017.
Source: Per Case-Shiller Home Price Index, NYC metro subset, 2008-2020, cross-referenced with StreetEasy historical price data series.
| Metric (2026) | Gramercy Park | Prospect Park South |
|---|---|---|
| Median Sale Price | $730,000 | $850,000 |
| Median Rent | $5,350/mo | $2,990/mo |
| Year-over-Year Price Change | -21.5% | -26.7% |
| Average Days on Market | 65 days | 50 days |
| Distance to Nearest Subway | N/A | N/A |
Table values reflect current 2026 market conditions. Historical 2008-2020 commentary is sourced from Case-Shiller NYC metro composite and StreetEasy historical series.
With 25+ years of experience across all five boroughs, I can help you find the right neighborhood for your lifestyle and budget.
Data updated:
