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Flatiron is bounded by 20th Street to the south, Sixth Avenue to the west, 26th Street to the north and Lexington Avenue to the east. Gramercy's boundaries are roughly 14th Street to the south, Park Avenue South to the west, 23rd Street to the north, and First Avenue to the east.

While their boundaries may blur a bit, the Flatiron District and Gramercy Park boast distinctively different personalities all their own. Named for the striking, three-sided Flatiron Building that has dominated the intersection of Fifth Avenue and Broadway since 1902, Flatiron was primarily  bustling office and restaurant district. But over the last two decades, new residents - many of them families - have moved in, taking advantage of the recently remodeled Madison Square Park, the central transportation hub at Union Square and the mini-restaurant rows along West 21st, West 24th and West 26th Streets. Jewel-like parks and rows of charming townhouses dominate the landscape a few blocks away in Gramercy, named for the private gated park at its core. Visually, the neighborhood hasn't changed much since Oscar Wilde and James Cagney resided here, and that's a good thing, because this graceful neighborhood remains one of New York's finest.