Chelsea

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  • 400 W 23rd St New York City New York 10011 United States
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1REC's Take
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Rents
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1REC's Take
Pros

✔ Art galleries and museums ✔ Vibrant LGBTQ+ community ✔ Numerous dining options

Cons

✘ Expensive real estate ✘ Crowded streets ✘ Gentrification issues

Shopper Profile

✦ Art Enthusiasts: Known for galleries and creative spaces ✦ Young Professionals: Living and working in the area ✦ Preferences: Trendy dining, nightlife, boutiques

About Location
Art, innovation, and a dash of green (thanks to the High Line), Chelsea appeals to both the cultured and the trendy. Galleries, avant-garde shops, and buzzing nightlife spots dominate, catering to a diverse audience from millennials to older art aficionados. The rental market is robust, with a blend of local artisans and corporate landlords.
Trade Area Summary

Basic Demographics

Median Household Income: $127,335
Consumer Expenditure: $26,500,953,178
Population: 592,852
Daytime Population: 1,674,092
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (63%)
Segment #2: J – Sunset Boomers (17%)
Segment #3: I – Young Urban Singles (7%)
All Other Segments: 14%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

Occupancy
Tenant Sales per Square Foot: $1,000
Occupancy Rate: 95%
Anchor Tenants: Whole Foods, Chelsea Market
Tenant Rent/Sales Ratio (%): 20% – 40%
Rent $ / Visitor: $45 – $90
Source Notes: Data sourced from public and private records.
Destination Rents
Average Rent (psf): $155
Median Rent (psf): $127
Rent Range (psf): $127-$150
Rent Variability: Medium
Source Notes: Data provided by Retail by MONA, a New York based brokerage firm.
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon, RCN
Estimated Permit Timeline (weeks)
6-8
Landmarks Risk
Medium
Union Labor Disharmony Likelihood
Medium
Recommended Vendors' Links 🔗

Local Broker: Retail by MONA

Building Surveyor: DrafterMax

Permit Expeditor: Paul Fusco Consulting

Licensed Architect: Prose Architecture

Store Designer: Carina Miranda Studio

Real Estate Attorney: Be Featured! Contact Us

General Contractor: Be Featured! Contact Us

Photos
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Reviews

1 Reviews on “Chelsea”

Overall rating
Parking
Foot Traffic
Cleanliness
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  • broker52
    Parking
    Foot Traffic
    Cleanliness
    Safety

    I have a furniture tenant looking for 2,500sf to 4,000sf interested in Chelsea. Pls dm if you have availabilities. Targeting 2025 possession.

     Reply

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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 400 W 23rd St
New York City
New York
10011
United States
Place Tags: NYC
Retail Type: Streets & Neighborhoods

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