Variable-temperature scanning tunneling spectroscopy revealed a sharp Verwey transition in individual ∼10 nm magnetite nanocrystals prepared by the coprecipitation technique and embedded in the surface of a gold film. The transition was observed as a significant change in the electronic structure around the Fermi level, with an apparent band gap of ∼140-250 meV appearing below the transition temperature and a pseudogap of ∼75 ± 10 meV appearing above it. The transition temperature was invariably observed around 101 ± 2 K for different nanocrystals, as opposed to 123 K typically reported for stoichiometric bulk crystals. This suggests that the lowering of the transition temperature is an intrinsic finite size effect, probably due to the presence of the surface.