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.
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.
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.