Market Overview for Quarter 4, 2020
Median Sale Price
28% YoY
Median Price/Sqft
-3% YoY
No. of Transactions
-4% YoY
Manhattan Median Sale Price
6% YoY
In Quarter 4, the median home sale price in Chelsea was $1.6M, a 28% increase year-over-year. A total of 110 properties changed hands, representing a 4% contraction compared to the same month last year. The median price per square foot as of Quarter 4 was $1,396, a -3% YoY change. In Manhattan, the median home sale price was $1M.
Chelsea Neighborhood Map
Chelsea is one of the most popular neighborhoods in Manhattan and manages to balance being a cultural capital of the city while still maintaining its cozy residential feel. Points of interest include Chelsea Market, which takes up an entire city block and is home to the Food Network studios and Chelsea Piers, a 28-acre waterfront sports village.
Top most expensive neighborhoods in Manhattan
View the most recent market trends and historic home sale prices in Manhattan , Brooklyn , Queens , Bronx , Staten Island
Chelsea median price compared with other neighborhoods in Manhattan
Chelsea property values are on the higher-end for neighborhoods in Manhattan .
Chelsea median price compared with all the neighborhoods in Manhattan
| Neighborhood | Borough | Median Sale Price |
|---|---|---|
| TriBeCa | Manhattan | $3,563,875 |
| SoHo | Manhattan | $2,700,000 |
| NoHo | Manhattan | $2,700,000 |
| Hudson Yards | Manhattan | $2,678,750 |
| NoLIta | Manhattan | $2,225,000 |
| Two Bridges | Manhattan | $2,157,681 |
| Central Park South | Manhattan | $2,100,000 |
| Civic Center | Manhattan | $1,900,968 |
| Hudson Square | Manhattan | $1,900,000 |
| Central Midtown | Manhattan | $1,620,000 |
| Chelsea | Manhattan | $1,587,500 |
| Garment District | Manhattan | $1,502,500 |
| Lincoln Square | Manhattan | $1,465,000 |
| West Village | Manhattan | $1,417,500 |
| Carnegie Hill | Manhattan | $1,400,000 |
| NoMad | Manhattan | $1,395,000 |
| Chinatown | Manhattan | $1,266,031 |
| Flatiron District | Manhattan | $1,230,000 |
| Upper West Side | Manhattan | $1,148,000 |
| Greenwich Village | Manhattan | $1,140,000 |
| Lenox Hill | Manhattan | $1,100,000 |
| Little Italy | Manhattan | $999,500 |
| Battery Park City | Manhattan | $994,500 |
| Gramercy Park | Manhattan | $965,000 |
| Turtle Bay | Manhattan | $952,000 |
| Clinton - Hell's Kitchen | Manhattan | $895,000 |
| Roosevelt Island | Manhattan | $895,000 |
| Yorkville | Manhattan | $847,000 |
| Theatre District - Times Square | Manhattan | $800,000 |
| Financial District | Manhattan | $797,000 |
| East Village | Manhattan | $792,000 |
| Sutton Place | Manhattan | $750,000 |
| Harlem | Manhattan | $747,500 |
| Manhattan Valley | Manhattan | $723,400 |
| Lower East Side | Manhattan | $700,000 |
| Morningside Heights | Manhattan | $685,000 |
| East Harlem | Manhattan | $660,000 |
| Murray Hill | Manhattan | $630,000 |
| Kips Bay | Manhattan | $627,500 |
| Washington Heights | Manhattan | $513,250 |
| Inwood | Manhattan | $405,000 |
| Tudor City | Manhattan | $305,000 |
Residential Properties Sold in Chelsea
| Property Type | Median sale price | Y-o-Y | Median sale price/sqft | Y-o-Y | Transactions |
| Condos | $2.4M | 20% | $1K | 10% | 56 |
| Coops | $848K | 20% | $1K | 3% | 53 |
| Houses | - | - | - | - | 0 |
The median condo price in Chelsea in Quarter 4 was $2.4M, up 20% year-over-year. Median coop sale price in Chelsea were $848K, a change of 20% year-over-year. There was no statistically significant data for median house sale price activity for the period of Quarter 4 in Chelsea.
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Chelsea Neighborhood Guide
A fashionable, bustling, cutting-edge neighborhood chock full of nightlife, world class architecture, a range of housing options, and eateries from the finest of dining to street food, Chelsea is known as one of the centers of New York's art scene and is home to more than 200 galleries. Made up of many different cultures, it's known for its acceptance and reverence of social and ethnic diversity, as evidenced by the many ethnic restaurants and stores as well as its large LGBT population. Though it's primarily residential, there are several office buildings throughout the neighborhood - most notably the full-city-block-spanning Google Office.
Architecture and landmarks
There's no shortage of landmarks in Chelsea, beginning with the Chelsea Piers, which were once part of New York City's primary luxury ocean liner terminal and are now used as entertainment venues. Chelsea Market is housed in a restored factory and is home to a famous fish market and a wide number of dining and shopping options. Set foot on the legendary Chelsea Studios, located on 26th Street for over 100 years, and you'll be standing where thousands of TV shows and movies have been produced. There's plenty of green space in this neighborhood too, including High Line, formerly an elevated rail line and today a unique urban park, or stop off at Peter McManus Cafe, known as one of the oldest bars in the city that's still family owned and operated. The Hotel Chelsea was the first cooperative apartment complex in New York and was once the tallest building in the city. Over the years it's been home to historic folks like Tennessee Williams, Mark Twain, and Thomas Wolfe. Housing options in the current real estate market include stunningly converted lofts, post-war walkups, and a healthy dose of newer high-rise buildings.
Transport
Public transportation is relatively simple within Chelsea, as the neighborhood is reachable by six different NYC bus routes and has several subway stations:
Schools
There are 17 schools in Chelsea, including both primary and secondary schools. MS 260 Clinton School Writers and Artists is considered one of the best schools in the neighborhood and is consistently ranked highly. Chelsea's public schools are a part of the New York City Geographic District #2, which is the only district in all of Manhattan that has its own high schools, 7 in total.
Health
There are numerous urgent care walk-in facilities within Chelsea and several highly-rated medical groups including Mount Sinai Doctors. The closest hospital is Lenox Health Greenwich Village.
Safety
Chelsea is part of the 10th Precinct, which recorded 21.14 crimes per 1,000 residents in 2015. The neighborhood' safety is average for Manhattan.
Things to do
Take a trip to the west side of Chelsea and you'll be smack dab in New York's most famous contemporary-art district with hundreds of galleries like Gagosian Gallery and Gladstone Gallery. The High Line, Chelsea's elevated park, is a top destination in the area and offers exceptional views of the surrounding architecture, including the industrial landmarks it's been historically known for and the gleaming modern new-builds. Chelsea Market, a made-over Nabisco factory, is a delightful, eclectic, multi-ethnic conglomeration of food, shopping, and unique goods.
A New York Public Library Branch, known as the Muhlenberg, is located on West 23rd Street and there are numerous parks in the neighborhood, including Chelsea Park, one of the most popular parks in Lower Manhattan.One of the advantages of this sprawling neighborhood is that its diversity ensures there's something for everyone, from those searching to quench their appetite for exceptional, five-star restaurants to flea market aficionados looking for incredible bargains and world-class antiques.
Chelsea's also known for its historic churches, perhaps most famously the Church of the Guardian Angel, built in 1930 in the Italian Romanesque style. Nightlife options abound and include a number of bars and clubs, including the Highline Ballroom, which is mythical for the famous guests who've stopped by to jam after being on the nearby Late Night with Jimmy Fallon.