Sec Form 4 Filing - Laven Charles @ Gramercy Property Trust Inc. - 2015-12-17

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Laven Charles 2. Issuer Name and Ticker or Trading Symbol Gramercy Property Trust Inc. [ GPT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O GRAMERCY PROPERTY TRUST INC.,, 521 FIFTH AVENUE, 30TH FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 12/17/2015 (Street) NEW YORK, NY10175 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Phantom Stock $ 0 12/17/2015 D 46,645 ( 1 ) ( 1 ) Common Stock 46,645 ( 1 ) 0 D Stock Options (Right to Buy) $ 85.8 12/17/2015 D 1,350 ( 2 ) 01/03/2016 Common Stock 1,350 ( 2 ) 0 D Stock Options (Right to Buy) $ 113.6 12/17/2015 D 1,350 ( 3 ) 01/03/2017 Common Stock 1,350 ( 3 ) 0 D Stock Options (Right to Buy) $ 92.4 12/17/2015 D 1,250 ( 4 ) 01/03/2018 Common Stock 1,250 ( 4 ) 0 D Stock Options (Right to Buy) $ 5 12/17/2015 D 1,250 ( 5 ) 01/02/2019 Common Stock 1,250 ( 5 ) 0 D Stock Options (Right to Buy) $ 10.92 12/17/2015 D 1,250 ( 6 ) 01/02/2020 Common Stock 1,250 ( 6 ) 0 D Stock Options (Right to Buy) $ 11.16 12/17/2015 D 1,250 ( 7 ) 01/02/2021 Common Stock 1,250 ( 7 ) 0 D Stock Options (Right to Buy) $ 10 12/17/2015 D 1,250 ( 8 ) 01/02/2022 Common Stock 1,250 ( 8 ) 0 D Stock Options (Right to Buy) $ 12.2 12/17/2015 D 1,250 ( 9 ) 01/02/2023 Common Stock 1,250 ( 9 ) 0 D Stock Options (Right to Buy) $ 23.16 12/17/2015 D 1,250 ( 10 ) 01/02/2024 Common Stock 1,250 ( 10 ) 0 D Stock Options (Right to Buy) $ 24.59 12/17/2015 D 1,250 ( 11 ) 07/29/2025 Common Stock 1,250 ( 11 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Laven Charles C/O GRAMERCY PROPERTY TRUST INC., 521 FIFTH AVENUE, 30TH FLOOR NEW YORK, NY10175 X Signatures /s/ Charles Laven by Jon W. Clark, his attorney-in-fact 12/21/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Disposed of in connection with the merger (the "merger") of issuer with and into a subsidiary of Gramercy Property Trust (formerly known as Chambers Street Properties, "Chambers") and the Director Deferral Plan. The total number of phantom shares listed above reflects a rounding adjustment of one additional share due to administrative error. ( 2 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 4,306 common shares of beneficial interest of Chambers for $26.90 per share. This grant and all others prior to March 2015 have been adjusted to reflect the 1 for 4 reverse stock split that was completed on March 20, 2015. ( 3 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 4,306 common shares of beneficial interest of Chambers for $35.61 per share. ( 4 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purcha se 3,987 common shares of beneficial interest of Chambers for $28.97 per share. ( 5 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $1.57 per share. ( 6 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $3.42 per share. ( 7 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $3.50 per share. ( 8 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $3.13 per share. ( 9 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $3.82 per share. ( 10 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $7.26 per share. ( 11 )This option, which was fully vested at the time of the merger, was assumed by Chambers in the merger and replaced with an option to purchase 3,987 common shares of beneficial interest of Chambers for $7.71 per share.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.