Chelsea & Hell's Kitchen multifamily & commercial real estate market
Recorded sales, prices, construction, lending and ownership for income and commercial property in Chelsea & Hell's Kitchen, updated monthly from NYC public records. Data through July 2026. Covers Chelsea, Hell’s Kitchen and Hudson Yards.
Get new sales, permits and off-market deals here in your weekly Pulse brief.
$1.3B65 sales, last 12 months▲ 32.4% YoY
$776Median price / sq ft▲ 3.7% YoY
$714KMedian price / unit (multifamily)▲ 39.2% YoY
21Off-market listings on Crezly now
September 2026 summary
65 income-property sales were recorded in Chelsea & Hell's Kitchen over the 12 months ending July 2026, down 3% from the prior 12 months, while dollar volume reached $1.3B, up 32.4%. The median price per square foot was $776, up 3.7%, and the median price per residential unit across multifamily and mixed-use properties was $714K, up 39.2%. DOB construction permits totaled 2,401, up 4.9%. 5.9% of multifamily and mixed-use parcels carried a Motivated-Seller Score of 10 or higher, compared with 2.9% citywide. JPMorgan Chase Bank, N.A. was the most active lender, with 27 mortgages recorded.
Market trends
Recorded sales volume by month
August 2024 – July 2026. Hover or tap a month for its figure.
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Month
Sales
Volume
August 2024
3
$21.8M
September 2024
4
$75.6M
October 2024
6
$71.1M
November 2024
4
$19.8M
December 2024
18
$176.2M
January 2025
11
$193.6M
February 2025
2
$6.3M
March 2025
3
$23.4M
April 2025
4
$16.7M
May 2025
3
$18.8M
June 2025
3
$23.4M
July 2025
6
$363.9M
August 2025
2
$108.3M
September 2025
5
$35.8M
October 2025
5
$196.5M
November 2025
3
$32.2M
December 2025
7
$286.1M
January 2026
5
$116.8M
February 2026
4
$87.5M
March 2026
4
$46.8M
April 2026
10
$85.3M
May 2026
7
$61M
June 2026
10
$250.2M
July 2026
3
$31.4M
Median price per square foot
Rolling 3-month median of recorded sales with a building area. Gaps mean fewer than five priced sales.
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Month
Median $/sf (3-mo)
August 2024
$773
September 2024
$552
October 2024
$690
November 2024
$580
December 2024
$1,030
January 2025
$1,058
February 2025
$1,058
March 2025
$888
April 2025
$582
May 2025
$597
June 2025
$665
July 2025
$877
August 2025
$728
September 2025
$627
October 2025
$933
November 2025
$874
December 2025
$770
January 2026
$575
February 2026
$824
March 2026
$810
April 2026
$631
May 2026
$743
June 2026
$754
July 2026
$1,006
Construction permits issued
Initial DOB NOW permits for construction work (sheds, fences, scaffolds and signs excluded) — a leading indicator of repositioning and new supply.
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Month
Permits
August 2024
195
September 2024
215
October 2024
208
November 2024
197
December 2024
175
January 2025
221
February 2025
135
March 2025
154
April 2025
219
May 2025
193
June 2025
198
July 2025
178
August 2025
189
September 2025
196
October 2025
203
November 2025
150
December 2025
173
January 2026
190
February 2026
170
March 2026
243
April 2026
264
May 2026
193
June 2026
206
July 2026
224
What trades here
Share of recorded sales by asset class, last 12 months.
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Asset class
Sales
Multifamily
35
Other
7
Retail
7
Mixed Use
5
Hospitality
4
Office
3
Development
3
Industrial
1
Seller distress
5.9% of 1,998 multifamily and mixed-use parcels in Chelsea & Hell's Kitchen carry a Motivated-Seller Score of 10+ as of September 2026, down from 6.2% in August 2026. Citywide the figure is 2.9%.
Chelsea & Hell's Kitchen
NYC
The score weighs estimated loan maturity, tax liens, open HPD violations, evictions, ownership tenure and transfer activity. It is a signal, not a prediction.
What is the price per square foot for commercial and multifamily property in Chelsea & Hell's Kitchen?
The median recorded sale was $776 per square foot across 62 priced income-property sales in the 12 months to July 2026, up 3.7% on the prior year.
How much do multifamily buildings sell for per unit in Chelsea & Hell's Kitchen?
Multifamily and mixed-use buildings sold for a median of $714K per residential unit in the 12 months to July 2026, across 40 recorded sales.
How many commercial real estate sales were there in Chelsea & Hell's Kitchen last year?
65 income-property sales worth $1.3B were recorded in the 12 months to July 2026 (deeds of $100,000 or more, excluding single-family homes and condo units).
Who lends on commercial property in Chelsea & Hell's Kitchen?
The most active institutional lender over the last 12 months was JPMorgan Chase Bank, N.A., with 27 recorded mortgages. The Crezly lender directory ranks every lender by recorded loans.
Track Chelsea & Hell's Kitchen deals as they happen
New sales, permits, off-market listings and distress signals, in one weekly brief.
Compiled by Crezly from NYC public records: ACRIS deeds and mortgages (recorded through July 2026), DOB NOW permits, PLUTO and HPD. Sales are recorded deeds of $100,000+ on income and commercial property (multifamily incl. two-family, mixed-use, retail, office, industrial, development, hospitality); single-family homes and condo units are excluded. Staten Island deeds are recorded by the Richmond County Clerk and are not in ACRIS. Neighborhoods follow NYC Community District boundaries. Not legal, financial or investment advice.
