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25+ years experience · 1,000+ transactions · 5-star reviews
Manhattan · New York, NY
318 active listings · Median $1.3M
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A condo-dominant submarket with rents at the 5-year high and sale values below the 5-year high.
Median asking rent in Chelsea sits at $5,975/month, matching the 5-year high. Rents are up +7.7% year over year and +70.7% over the past 5 years. Median sale price stands at $1.25M, 44.1% below the 5-year high recorded in Jan 2024. Sale prices are down -19.4% year over year. Sale listings are clearing 4 days faster than at this point last year.
Across NYC, the FARE Act has tightened agent-listed rental supply since August 2024 by shifting the broker fee to landlords who engage a broker. Roughly 35 to 40% of NYC lease signings occur between mid-June and August 15.
Source: StreetEasy market data, through Mar 2026.
Chelsea is the epicenter of New York’s contemporary art world and a hub for innovative architecture. Home to the High Line and Chelsea Market, the neighborhood mixes industrial history with modern luxury. The real estate market here is dominated by high-end condominium developments designed by world...
Stations: 34 St-Penn Station (0.59 mi), 34 St-Herald Sq (0.74 mi)
Midtown: 16 min (2 express from 34 St-Penn Station)
| School | Grades | Dist |
|---|---|---|
| NYC Lab School for Collaborative Studies | 6-12 | 0.40 mi |
| NYC Lab School for Collaborative Studies | 6-12 | 0.40 mi |
Live data from REBNY/RLS. Updated every 15 minutes.
Median closed sale price by month
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Properties in Chelsea
REBNY/RLS Disclaimer: Listing data is derived in whole or in part from the RLS at REBNY (Real Estate Board of New York) Internet Data Exchange (IDX) database. Real estate listings held by brokerage firms other than Milton Coste | Keller Williams NYC are marked with the RLS logo. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 1/1/1970.
Experience across NYC
Transactions closed
Active in Manhattan
Milton Coste is a Licensed Real Estate Associate Broker with Keller Williams NYC. His work covers all five boroughs, with deep experience in co-op boards, condo offerings, townhouse sales, and rental transactions. For Chelsea buyers and sellers, that track record means a broker who has negotiated every type of deal this market produces.
"Milton made the entire buying process seamless. His knowledge of the local market and negotiation skills saved us thousands. Highly recommend for anyone looking in Upper Manhattan."
"We sold our co-op in record time thanks to Milton's marketing strategy. Professional photography, virtual tour, and targeted digital ads brought multiple offers within the first week."
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The FARE Act shifts broker fees to landlords on most NYC rentals as of Feb 2026. Plus lease renewal caps, good cause eviction, and harassment protections.
The median sale price in Chelsea is $1.3M. Condos sit at a median of $3.1M and co-ops at $830K. Sale prices are down 19.4% year over year.
No. The median sale price in Chelsea is currently 44.1% below the 5-year high recorded in January 2024. That gap can favor buyers searching for value relative to the neighborhood's past peak.
Sale listings in Chelsea have a median of 60.5 days on market. That is 4 days faster than the same point a year ago. Roughly 12.8% of active listings have recorded a price cut, suggesting some negotiating room.
Chelsea is broadly balanced right now, with median days on market at 60.5 days and 12.8% of active listings carrying a price cut. Pricing depends heavily on the specific building and unit.
Chelsea offers both co-ops and condos. Condos are the higher-priced segment at a $3.1M median, with co-ops at $830K.
Roughly 39 homes change hands each month in Chelsea across condos, co-ops, and townhouses, based on recorded closed sales. That benchmark helps gauge how quickly the market is absorbing new inventory.
The overall median asking rent in Chelsea is $5,975/month. Live RLS listings show studios at $4,150, 1-bedrooms at $5,650, 2-bedrooms at $10,000, 3+ bedrooms at $13,900 per month. Rents are up 7.7% year over year.
Yes. The median asking rent in Chelsea is currently at the 5-year high. Tenants searching the neighborhood right now are competing in a market priced at peak.
Median asking rent in Chelsea has risen 70.7% over the past 5 years. That puts the neighborhood in context with longer-term NYC rent dynamics rather than just one-year noise.
Within walking or short-transit distance of Chelsea, median sale prices range across Flatiron at $2.8M, Greenwich Village at $1.8M, West Village at $1.6M, Midtown South at $850K. Each has different building stock, co-op vs condo mix, and transit access, so the right comparison depends on the buyer's priorities.
Chelsea is served by the 1, 2, 3, A, B, C, D, E, F, M, N, Q, R, W trains. The commute to Midtown Manhattan runs roughly 16 minutes from 34 St-Penn Station.
Under the FARE Act in effect since August 2024, NYC landlords who engage a broker pay the broker fee directly rather than passing it to tenants. In neighborhoods like Chelsea, this has shifted some smaller landlords toward self-listing, which has tightened the supply of agent-listed rentals citywide and lifted competition for what remains on market.
Milton Coste is a Licensed Real Estate Associate Broker with Keller Williams New York City. He has 25+ years of experience across all five boroughs, with deep transaction history in co-op board packages, condo offerings, townhouse sales, and rentals. Direct: (917) 416-7433. Email: [email protected].
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Licensed Associate Broker
Keller Williams NYC · NY #10301213304
25+ years of experience and over 2,000 transactions closed across NYC. Whether you are buying, selling, or leasing in Chelsea, I will guide you every step of the way.
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