Phasor data concentrators (PDCs) are essential functions in synchrophasor networks that collect and aggregate phasor measurement unit (PMU) data from across the electric grid. PDC buffers synchrophasor datasets during the “wait time” period, then communicates them to target applications or higher-level PDCs in hierarchy. The time-varying and inherent uncertain nature of communication latencies limits the performance of PDCs especially for applications with hard time constraints. Moreover, the accumulation of latencies in the hierarchy significantly complicates the process of PDC optimal wait time assessment and PDCs coordination. In this article, a method for the optimal coordination of PDCs in synchrophasor networks is proposed. A mathematical model of the hierarchy synchrophasor scheme that incorporates both the “absolute” and “relative” wait time policies required by the IEEE Standard C37.247-2019 is presented. The wait times are optimally designed in order to achieve maximum application throughput and grid observability within the time constraints. The performance of the proposed method is verified using realistic PMU data.