Most listings are in the $60's per square foot per year. The Chelsea region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decrease 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 undervalued region.
In the last 90 days, 280 listings have come on the market, so you'll want to check back regularly for new listings. About 7% 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,680 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 11 stories. Most buildings in this region 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 area. 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.