Chelsea Sublease

544 W 27th St Space
Chelsea, New York City, NY
- Space is gorgeous - Dedicated conference room - Dedicated private office - Updated electrical and data installed - Conference room wired and ready for flat screen TV, Apple TV, and HDMI connections - Shared large modern kitchen - Flexible lease terms - Office could be one space, or divided into co work - Lease term may be extended to two years - Call for pricing - Currently accommodating 25 desks - Utilities and amenities extra - Term negotiable (1 - 3 years) The sqft rate is based on designer made, perfectly plug and play ready, turn key occupancy (no need to invest cash or time to build space out)! Beautifully designed and freshly renovated loft space available as a shared sublet. Located on one of the hippest streets in Chelsea at 544 West 27th Street (between 10th and 11th Ave), at the center of the Chelsea gallery district, our space is just steps away from the High Line, art galleries, Hudson Yards, fashion boutiques, chic restaurants and the Hudson River. Continuous windows on three sides flood the space with natural light. Save time and cash flow on renovating a space. This space is gorgeous and move-in ready. You must see it to appreciate it. This classic—and increasingly rare—Chelsea loft building features a newly renovated design with a beautiful original wood ceiling, and new hardwood floors. Appointed with flexible 21st century workstations and considered amenities such as a variety of meeting areas and hang-out zone, frosted sliding doors for privacy, two private bathrooms, and a spacious modern kitchen for impromptu gathering, brainstorming, and, of course, eating. The space is currently occupied by Tribeca Shortlist (http://tribecashortlist.com/) —a start-up joint venture betweenLionsgate (http://lionsgate.com/) and Tribeca Film Festival (http://tribecafilm.com/) —whose lease ends in August.

Chelsea

Office Space Market Report

Number of Listings (last 90 days)
280
Median Rate ($/sqft/yr)
$65
Median Size (sqft)
2,680
As of: March 11, 2017

Chelsea Rates

Most listings are in the $60's per square foot per year. The Chelsea submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decline in rent.

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

Chelsea Listing Supply

In the last 90 days, 280 listings have been listed, so you'll want to check back regularly for new listings. About 7% of the listings in the Chelsea are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,680 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 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 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