Chelsea Office Space

544 W 27th St Space
Chelsea, New York City, NY

Chelsea

Office Space Market Report

Number of Listings (last 90 days)
280
Median Rate ($/sqft/yr)
$73
Median Size (sqft)
2,740
As of: August 16, 2017

Chelsea Rates

The typical asking rate per listing is in the $60's per square foot per year. The Chelsea region is seeing a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% increase in rent.

Compared to the rest of the New York City market, the Chelsea submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.

Chelsea Listing Supply

In the last 90 days, 280 listings have been made available, so you'll want to check back regularly for new listings. About 86% of the office spaces in the Chelsea are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 2,830 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are around 11 floors. Most buildings in this region were built in 1914 and are Class B.

Chelsea Community

A large portion of this region is residential, but there's plenty of office_space. Public administration is the dominant industry in this region. Most of the folk 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.

Market Report

Trends and status of the commercial real estate market in Chelsea.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Chelsea.
Research