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Chelsea

As a neighborhood that’s home to more than 300 galleries, Chelsea has earned its reputation for being the center of New York City’s contemporary art scene. Between the High Line urban park and the expansive arts district, residents have access to a startling amount of class and culture in this westside district. However, there’s more to Chelsea than gallery openings and exciting nightlife. This highly residential neighborhood has its share of luxury high-rises, refurbished row houses and classic co-ops. Individuals hunting for condos for sale in Manhattan will find Chelsea to be a lively district that’s conveniently connected to the rest of the city.

Chelsea Location

The neighborhood of Chelsea runs west from Broadway to the Hudson River within the Midtown section Manhattan. Its northern border is West 34th Street, just over Hudson Yards, while the southern boundary is West 14th Street. The neighborhood is sandwiched in-between the Garment District and Greenwich Village at the southwest end of Midtown. While it shares many qualities with neighboring districts, Chelsea has a diverse and colorful character all its own. Unlike Greenwich Village, the streets of Chelsea are laid out in a grid pattern. This is helpful for potentially new residents looking for real estate for sale New York City.

The Evolution of Chelsea

Chelsea has gone through many changes since it was the site of an estate belonging to British Major Thomas Clarke in the 1700s. Clarke donned his property Chelsea in honor of the neighborhood in London, and the name has stuck ever since. As urbanization took hold in Manhattan, the area became an industrial center for the city. Population boomed and settlement houses began sprouting up in droves. The Hotel Chelsea became the city’s first cooperative apartment complex when it opened in 1885. Over the years, this historical property was home to creative luminaries such as Mark Twain, Jack Kerouac, Bob Dylan and Tennessee Williams. Chelsea’s full transformation into a hotbed for the art world did not occur until the 1990s. Before then, it was a relatively quiet neighborhood with relatively low property prices. Artists and gallery owners started moving in to take advantage of the cheaper rent, forever altering the culture of Chelsea. Those looking for Chelsea apartments for sale today will find the district to be quite affluent but not as elite some uptown neighborhoods.

Population Facts and Figures

Like most of Manhattan, Chelsea is densely populated and very diverse. More than 40,000 people live in this neighborhood of .774 square miles. That adds up to about 52,000 residents per square mile. While this figure is high, it’s lower than Manhattan’s average of nearly 67,000 people per square mile. The median age of Chelsea residents is 39, which is older than the city average (around 36 years old). Despite this, buyers of Chelsea apartments for sale can expect the neighborhood to be energetic and full of youthful culture.

The Chelsea Lifestyle

Not surprisingly, life in Chelsea is busy and driven by the local community of young professionals and creative types. Energetic crowds enjoy the wealth of bars, restaurants and nightlife offerings in the area. While there’s a fair share of upscale lounges in the area, there are also many low-key hangouts that don’t require stuffy dress codes. Those who like to stay in for dinner make the trek to the famous Chelsea Market, a food hall that sells everything from seafood to cheese.

Despite the busy streets and high foot traffic on evenings and weekends, Chelsea has more of a spread out, traditional “neighborhood” feel that’s very inclusive and even attracts many families. The area is home to numerous schools, including the Bayard Rustin Educational Complex, a “vertical campus” that contains multiple public institutions. These options have helped make the neighborhood more attractive to parents on the market for condos for sale in Manhattan.

Real Estate Makeup of Chelsea

Those interested in real estate for sale New York City will find Chelsea to have a variety of property types, often within the same block. The neighborhood is notable for featuring rent-controlled buildings right next to luxury high-rises and classic brownstones. One of the area’s first luxury developments was London Terrace, a 14-building complex that opened in 1929 and stretches across a full city block. This complex continues to be popular for co-op shoppers.

Chelsea real estate prices range from $30 million for a 5,000 square-foot condo to $300,000 for a cozy apartment. The median price for a condo is about $3 million for a condo around 2,000 square feet. For co-ops, the median going rate is closer to $1 million. Buyers looking for great deals on real estate for sale New York City will be able to find great deals on smaller post-war walk-ups. There are also lots of pre-war apartments and sprawling lofts mixed in with the newer high-rises. The blocks surrounding the old High Line railway feature some of the most luxurious condos for sale in Manhattan. The few townhouses that are available are generally found closer to the Hudson River.

Chelsea Attractions

Chelsea’s legendary art scene is spread throughout the neighborhood but mostly concentrated around 10th and 11th avenues. Many of the old garages and warehouses in that area have been converted into galleries featuring the works of both well-known and up-and-coming artists. Locals and visitors often roam the art district, enjoying free entry to places like Petzel Gallery and Hauser & Wirth before dining in one of the nearby cafes. Chelsea apartments for sale are sprinkled throughout this area. Closer to Midtown, art lovers will find larger galleries such as the Rubin Museum of Art. The neighborhood is also home to a thriving off-Broadway theater scene. Popular performance venues include Joyce Theater, the Irish Repertory Theatre, New York Live Arts and The Kitchen.

One of Chelsea’s most iconic attractions is the High Line, which runs mostly along 10th Avenue in the western end of the neighborhood. This Manhattan elevated railway sat dormant for decades before city leaders started converting it into a 1.45-mile long linear park in 2009. On clear days, crowds of walkers stroll through this unique “greenway” that stands roughly 30 feet in the air. Along the way, they enjoy naturalized plantings, art installations and views of the Hudson River. Continuing development phases will extend the High Line up through Hudson Yards, a massive redevelopment project. This area will be a prime spot for new real estate for sale New York City.

In the early 1900s, Chelsea Piers along the Hudson River was a popular terminal for passenger ships. These series of piers have since been converted into a sports and entertainment complex, which features everything from ice rinks and a golf club to film and television production studios. The Chelsea waterfront is also home to parts of Hudson River Park, a 550-acre recreational area. Those interested in condos for sale in Manhattan may appreciate the quieter Chelsea blocks closer to the water.

Local Transportation Options

With an array of public transportation options, Chelsea is one of the most well-connected parts of Lower Midtown. Penn Station, which is located on the northern end of Chelsea, is among the busiest transportation hubs in the city. In addition to being a major stop for subway and bus lines, many long-distance trains come through the station. Those searching for Chelsea apartments for sale will find that virtually every property is within walking distance of a subway stop. The A, C and E lines make multiple stops along 8th Avenue while the 1, 2 and 3 trains have pickups along 7th Avenue. As with the rest of Manhattan, Chelsea is also served by a robust bus system and easy taxi access.

Why Buyers Seek Chelsea Apartments for Sale

When hunting for real estate for sale New York City, it’s important to find a neighborhood that fits your needs and personality. Chelsea is a sophisticated district that’s exciting and culturally rich without being pretentious. The community is certainly not subdued and tranquil; however, it seems to have something for everyone. There are great schools and recreational places for families while the nightlife and art scene enthralls the adult crowd. With the local real estate market in high demand, Chelsea is also a great place to buy condos for sale in Manhattan.

As a popular neighborhood, Chelsea properties generally don’t stay on the market for very long. This is why prospective buyers should be patient yet assertive when scouting for homes in the neighborhood. Whether you’re looking for Apartments for Rent in Chelsea or real estate for sale, you’ll fall in love with our options.

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REBNY data last updated at September 26, 2017 3:32 PM ET

 

 

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