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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Occupancy Information
Destination 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

Successful Retail Uses:
Art Galleries, Trendy Restaurants, Nightlife
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.
Household Income in Trade Area: $120,000
Retail Sales in Trade Area: $1.8 billion
Population in Trade Area: 200,000
Occupancy Information
Tenant Sales per Square Foot: $1,000
Occupancy Rate: 95%
Anchor Tenants: Whole Foods, Chelsea Market
Tenant Rent/Sales Ratio (%): 20% – 40%
Rent $ / Visitor (relative cost of the foot traffic): $45 – $90
Other 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
Other 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 🔗

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

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

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