Most listings are in the $60's per square foot per year. The Chelsea submarket is going through a a rise in rates. In the last 3 months, the median rate increased $69 per sqft per year.
Compared to the rest of the New York City market, the Chelsea region has less expensive rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 280 listings have been posted online, so you'll want to check back regularly for new listings. About 120% of the available space in the Chelsea are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,740 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 11 floors. Most buildings in this area were built in 1914 and are Class B.
A large portion of this area 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.