Gramercy refers to the area around Gramercy Park, around 3rd Avenue, which is one of the very few private parks in New York City. This park has only access to the residents around it, who pay an annual fee to have a key. This neighborhood is very quiet and safe.
An assortment of restaurants, bars, and establishments line Irving Place, the main thoroughfare of the neighborhood south of the park. There are also a number of clinics and official city buildings on Irving Place.

The Gramercy Park neighborhood is bounded by 23rd street to the north, 14th street to the south, Park Avenue to the west and First Avenue to the east.

Gramercy apartments, in its "core" can be quite pricey for being part of high quality buildings constructed a long time ago, back in the era of high standards of construction. Newer buildings that were added after the WWII are a step down, but are more affordable. Gramercy Park also displays beautiful row houses, especially on side streets and next to the park.

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