The typical asking rate per listing is in the $60'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 went up $3 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the New York City market, the Chelsea submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 200 listings have been made available, so you'll want to check back regularly for new listings. About 10% 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 3,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area 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 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.