Those planning to move to Chelsea can count on its stunning architecture, great shopping and dining, and vibrant arts scene. Rooted in history predating the American Revolution, this Manhattan neighborhood honors its past while looking into the future in its housing options, businesses, and entertainment. To guide your search for Chelsea real estate, read through this complete guide.
Overview of Chelsea
Chelsea has been around longer than Manhattan or NYC, but currently, it’s known and loved as Manhattan’s art district, as it’s full of several galleries featuring emerging and established artists alike. The surroundings themselves are notably artistic, with parks like The High Line, an admirable construction built on an elevated railroad track. Chelsea was established as an arts district 130 years ago when the Chelsea Hotel opened. This hotel is famous for showcasing iconic and innovative global artwork in its galleries.
Real estate market
There are several property types available for buyers searching in the area, from classic brownstones and row houses in different historical styles to apartments and high-rises. For a luxury experience, modern high-rises offer great city skyline views. The architecture in Chelsea itself is beautiful, with Art Deco apartment complexes and sleek contemporary buildings side by side.
Chelsea homes for sale have a median sale price of $1.4 million, which has decreased since last year. However, this is still higher than Manhattan’s overall median price, which is $1.2 million. The median price per square foot for Chelsea properties has risen 6% since last year. Buyers will benefit from less competition, as the number of transactions in this neighborhood has decreased by 5% since last year.
The median rent in Chelsea is about $4,000, which is up by 4% since last year. This is about double the national rental average of $2,002. Whether you’re looking for a studio apartment for yourself or a luxury rental property to enjoy on vacations or with others, you’re sure to find it in Chelsea.
What residents love
The food and beverage options are wide and varied, from the acclaimed Thai restaurant Ayada to fine dining and ornate restaurants like Buddakan, which serves high-end pan-Asian cuisine. Stop by for fresh seafood at The Lobster Place, then enjoy a sweet at Li-Lac Chocolates, the oldest chocolate house in Manhattan. Shopping spots like Anthropologie, Artists & Fleas, and entertainment at Chelsea Music Hall provide endless enjoyment.
An integral part of the community around Chelsea homes for sale is the art scene. Spend a Thursday night out in Chelsea, which is the art night when galleries host receptions open to the public. Chelsea’s industrial history makes it one of the best places for galleries, as there are plenty of garages and warehouses without columns to break up open space. Most galleries in West Chelsea are between 19th and 28th Streets and offer some of the best art in New York City.
For a trippy and immersive art experience, residents can visit David Zwirner’s gallery, which features movements like West Coast Minimalism alongside contemporary artists around the world. Another gallery to visit is Hauser & Wirth New York, representing 60+ artists of all backgrounds in its massive 36,000-square-foot building. Other must-see galleries include the Marianne Boesky Gallery, the Gagosian Gallery, and the Cavin-Morris Gallery.
Nightlife in Chelsea is exciting, with plenty of great bars to choose from. A popular choice is the vintage-decorated Flatiron Lounge, with its globe-shaped lamps, leather booths, and mahogany tables. Its stellar drinks served at the 30-foot bar and great atmosphere keep it busy right up until closing. For great city views at night, visit Gallow Green, a rooftop bar spilling over with verdant plant life and lit by dreamy string lights.
Niche spots like Sid Gold’s Request Room feature a piano bar, attracting high-profile visitors without the exclusive velvet rope. Those interested in a quiet drink can sit in the front bar, while visitors looking for a night out dancing can bounce along to the clubhouse music and lights in the back. Other notable bars that make nightlife pop in Chelsea are Raines Law Room, Bathtub Gin, and The 18th Room.