Gramercy, Murray Hill & Turtle Bay multifamily & commercial real estate market
Recorded sales, prices, construction, lending and ownership for income and commercial property in Gramercy, Murray Hill & Turtle Bay, updated monthly from NYC public records. Data through July 2026. Covers Gramercy, Murray Hill, Kips Bay and Midtown East.
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$1.2B54 sales, last 12 months▲ 14.1% YoY
$716Median price / sq ft▲ 28.3% YoY
$575KMedian price / unit (multifamily)▲ 15.3% YoY
6Off-market listings on Crezly now
September 2026 summary
54 income-property sales were recorded in Gramercy, Murray Hill & Turtle Bay over the 12 months ending July 2026, up 17.4% from the prior 12 months, with dollar volume of $1.2B, up 14.1%. The median price per square foot was $716, up 28.3%, and the median price per residential unit for multifamily and mixed-use properties was $575K, up 15.3%. 2,470 DOB construction permits were issued, up 0.9%. 4.1% of multifamily and mixed-use parcels carried a Motivated-Seller Score of 10 or higher, compared with 2.9% citywide. JPMorgan Chase Bank, N.A. was the most active lender, with 19 mortgages recorded.
Market trends
Recorded sales volume by month
August 2024 – July 2026. Hover or tap a month for its figure.
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Month
Sales
Volume
August 2024
3
$76.2M
September 2024
6
$31.1M
October 2024
5
$121.3M
November 2024
5
$78M
December 2024
7
$214.4M
January 2025
4
$101.8M
February 2025
7
$180.7M
March 2025
3
$13M
April 2025
2
$107.1M
May 2025
0
$0
June 2025
2
$6.6M
July 2025
2
$116.5M
August 2025
5
$21.8M
September 2025
2
$11.5M
October 2025
5
$281.6M
November 2025
7
$84.2M
December 2025
8
$325.7M
January 2026
4
$38.3M
February 2026
3
$10.1M
March 2026
3
$15.6M
April 2026
8
$39.7M
May 2026
2
$70.6M
June 2026
1
$265.3M
July 2026
6
$30.1M
Median price per square foot
Rolling 3-month median of recorded sales with a building area. Gaps mean fewer than five priced sales.
Show the data
Month
Median $/sf (3-mo)
August 2024
$818
September 2024
$778
October 2024
$753
November 2024
$642
December 2024
$547
January 2025
$477
February 2025
$488
March 2025
$508
April 2025
$577
May 2025
$577
June 2025
—
July 2025
—
August 2025
$424
September 2025
$383
October 2025
$424
November 2025
$773
December 2025
$639
January 2026
$826
February 2026
$743
March 2026
$756
April 2026
$746
May 2026
$749
June 2026
$657
July 2026
$743
Construction permits issued
Initial DOB NOW permits for construction work (sheds, fences, scaffolds and signs excluded) — a leading indicator of repositioning and new supply.
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Month
Permits
August 2024
230
September 2024
205
October 2024
213
November 2024
203
December 2024
157
January 2025
189
February 2025
136
March 2025
236
April 2025
201
May 2025
248
June 2025
223
July 2025
208
August 2025
210
September 2025
174
October 2025
235
November 2025
166
December 2025
145
January 2026
193
February 2026
194
March 2026
228
April 2026
241
May 2026
215
June 2026
248
July 2026
221
What trades here
Share of recorded sales by asset class, last 12 months.
Show the data
Asset class
Sales
Multifamily
32
Mixed Use
10
Office
7
Retail
3
Other
1
Hospitality
1
Seller distress
4.1% of 1,664 multifamily and mixed-use parcels in Gramercy, Murray Hill & Turtle Bay carry a Motivated-Seller Score of 10+ as of September 2026, down from 4.3% in August 2026. Citywide the figure is 2.9%.
Gramercy, Murray Hill & Turtle Bay
NYC
The score weighs estimated loan maturity, tax liens, open HPD violations, evictions, ownership tenure and transfer activity. It is a signal, not a prediction.
What is the price per square foot for commercial and multifamily property in Gramercy, Murray Hill & Turtle Bay?
The median recorded sale was $716 per square foot across 54 priced income-property sales in the 12 months to July 2026, up 28.3% on the prior year.
How much do multifamily buildings sell for per unit in Gramercy, Murray Hill & Turtle Bay?
Multifamily and mixed-use buildings sold for a median of $575K per residential unit in the 12 months to July 2026, across 42 recorded sales.
How many commercial real estate sales were there in Gramercy, Murray Hill & Turtle Bay last year?
54 income-property sales worth $1.2B were recorded in the 12 months to July 2026 (deeds of $100,000 or more, excluding single-family homes and condo units).
Who lends on commercial property in Gramercy, Murray Hill & Turtle Bay?
The most active institutional lender over the last 12 months was JPMorgan Chase Bank, N.A., with 19 recorded mortgages. The Crezly lender directory ranks every lender by recorded loans.
Track Gramercy, Murray Hill & Turtle Bay deals as they happen
New sales, permits, off-market listings and distress signals, in one weekly brief.
Compiled by Crezly from NYC public records: ACRIS deeds and mortgages (recorded through July 2026), DOB NOW permits, PLUTO and HPD. Sales are recorded deeds of $100,000+ on income and commercial property (multifamily incl. two-family, mixed-use, retail, office, industrial, development, hospitality); single-family homes and condo units are excluded. Staten Island deeds are recorded by the Richmond County Clerk and are not in ACRIS. Neighborhoods follow NYC Community District boundaries. Not legal, financial or investment advice.
