Chelsea.

Chelsea's active market currently presents 99 listings at a median ask of $1,650,000 and $1,861 per square foot. That asking PSF sits roughly 15–20% above comparable figures seen in Flatiron and positions Chelsea at a meaningful premium to Hell's Kitchen to the north, where active inventory prices frequently clear below $1,500 PSF. The active loft and new-construction segments each contribute exactly six listings, indicating those product types represent a thin but distinct slice of available supply rather than the dominant form factor. Days on market data are not available in the current feed, so absorption pace cannot be assessed from active inventory alone.

ACRIS records 193 deeds in the trailing 12 months at a $1,650,000 median list price contrasted against a $2,800,000 ACRIS sold median — a spread that reflects significant compositional differences between what is currently offered and what has transacted. That gap is not a straightforward discount or premium; it signals that recently closed deals skewed toward larger or higher-tier units relative to today's active stock. At the building level, 35 Hudson Yards (2019 delivery) generated 19 ACRIS-verified closings at a $5,954,250 median and currently carries two active asks at $6,725,000, a spread where the median sale sits roughly 11.5% below the median ask at approximately $2,670 PSF. 555 West 22nd Street and 553 West 30th Street each recorded closing medians above $5.8 million with no current active inventory, meaning those buildings are not contributing to today's listed supply despite their transaction weight in the ACRIS record. By contrast, 517 West 29th Street posted 21 closings — the highest count in the leaderboard — at a $1,350,000 median, anchoring the lower end of the closed-sale distribution and demonstrating that deal volume in Chelsea is not exclusively concentrated in the luxury tier. The divergence between the volume leaders at 517 West 29th and the price leaders at 35 Hudson Yards illustrates the bifurcated nature of closed activity: high-frequency, entry-tier transactions running parallel to lower-frequency, high-value closings at the Hudson Yards edge of the submarket.