This is such a transitional street. On one end, I always feel like I'm just a few steps away from the Lower East Side, with it's endless bars, restaurants and hot spots; while simply walking down this street, one block west, I immediately get the feeling of old Gramercy Park. The tops of the Empire State Building and the Metropolitan Life building popping into view just add to the feeling of transition.
The street itself has a lot of character. Layers of paint, old signs and murals are all around. The block is dominated by several schools and churches (and combinations of the two). The west side of the street is home to Peter's Field (which, despite the name, is lacking a lawn of any sort), which allows for some nice views north.
The area seems relatively untouched by new development, so there's plenty of old buildings to admire, though anyone looking for any sort of commercial presence best go elsewhere.