Chelsea Sublease

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)
$71
Median Size (sqft)
2,850
As of: August 19, 2017

Chelsea Rates

Most listings are in the $70's per square foot per year. The Chelsea region is going through a an increase in rates. In the last 3 months, the median rate increased $3 per sqft per year. That's a 4% increase in rent.

Compared to the rest of the New York City market, the Chelsea region has smaller 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 79% 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 on the market, so finding a space for a small business might be tough.

Even though the median size is 2,850 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are approximately 11 stories. Most buildings in this region were built in 1914 and are Class B.

Chelsea Community

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

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