The typical asking rate per listing is in the $60's per square foot per year. The Chelsea region is going through a decrease in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the New York City market, the Chelsea submarket has less expensive rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 236 listings have been made available, so you'll want to check back regularly for new listings. About 6% of the available leases in the Chelsea are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this region are around 11 floors. Most buildings in this market were built in 1914 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Public administration is the dominant industry in this market. Most of the residents of Chelsea work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.