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Chelsea

A vibrant neighborhood known for art galleries, High Line access, and creative office spaces in converted warehouses.

5.5-6.5%

Avg Cap Rate

$900-1,400

Price per SF

4

Skyline Transactions

Market Overview

35M+

Total SF

12.8%

Vacancy Rate

$85/SF

Avg Asking Rent

Key Highlights

High LineChelsea MarketGallery DistrictHudson Yards Adjacent

Primary Asset Classes

Creative OfficeRetailMixed-UseGallery Space

Skyline Transactions

$129M+ Total
530 West 25th Street - $72M Office - Skyline Properties

$72M

75,000 SF

135 West 29th Street - $35M Office - Skyline Properties

135 West 29th Street

99-Year Ground Lease2021

$35M

75,000 SF

4-14 West 125th Street - $20M Office - Skyline Properties

4-14 West 125th Street

99-Year Ground Lease2014

$20M

35,000 SF

136 West 22nd Street - $2.1M Retail - Skyline Properties

136 West 22nd Street

Retail Condo2013

$2.1M

2,000 SF

Chelsea Transaction Map

Interactive map coming soon

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Market Metrics

Avg Cap Rate5.5-6.5%
Price/SF Range$900-1,400
2024 Volume$1.5B (2024 YTD)
Vacancy12.8%

Ground Lease Opportunities

Explore ground lease structures for properties in Chelsea.

Learn About Ground Leases →

Invest in Chelsea

Our team has deep expertise in Chelsea real estate. Let us help you find the right opportunity.