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Which Chelsea Property Type is Right for You?


Before you pack up your bags and make the move to Chelsea, the first order of business is deciding which type of housing is right for you. Like the rest of New York City, Chelsea offers an abundance of property types, enabling you to select one that is best suited for your needs. If you’re not sure where to begin, don’t worry — we’re here to give you the inside scoop of different properties you can expect to find in Chelsea and help you decipher which one is right for you. 

Condos and Co-Ops

Condos and co-ops are among two of the most popular property types found in Chelsea, so it’s helpful to start by defining them. Condominiums — more frequently referred to as condos —  are housing units in a large property complex. While you can only rent apartments, condos are available to own. Residents own their living space and jointly own common areas that make up the rest of the building — including hallways, elevators, and other shared spaces. 

While condos might be more well-known, co-ops are more prevalent in the Big Apple. Some estimates suggest that 75% of residential buildings in New York are co-ops, and if you decide to pursue the co-op route, you’re not buying real estate in the traditional sense. Instead, you’re purchasing shares of a corporation, and that “co-op” owns the building. The bigger the unit, the more shares in the co-op you own. At the closing for a condo, you’ll be given a deed, and at the closing for a co-op, you’ll receive a proprietary lease. 

Condos and co-ops both have perks, depending on your phase of life. Condos are more affordable than single-family homes and offer top-notch amenities, covered maintenance, good security, and flexible living. Similarly, co-op living comes with perks — and affordability is at the top of the list. Additionally, co-ops have made an excellent investment and provide buyers with a good amount of space.

Studios

Unlike an apartment with bedrooms, a studio apartment is known for its compact design. A studio apartment is a single-room dwelling that combines the bedroom, kitchen, and living area into one room. While the size of a typical studio can vary from place to place, buyers can expect to find most between 400 and 600-square feet. It goes without saying that the smaller the size, the more creative you’ll become in finding storage and designing your space.

Studio apartments are appealing to single buyers or couples without children. Plus, due to their smaller size, studio apartments need less furniture to feel “complete,” making them a popular option for buyers in the market for their first home. 

Individuals who opt for buying a studio apartment can look forward to many perks — starting with affordability. Studio apartments are traditionally cheaper as they comprise fewer square feet. This type of property is relatively easy to maintain as there is not a lot of cleaning or maintenance to be done when you’re dealing with a small space. Often, heating and cooling also cost significantly less. Studio living is an excellent option for individuals who prefer a minimalist interior design. If you appreciate sleek interiors and tend to avoid clutter, a studio apartment might be an attractive option. It’s easy to create distinct spaces using screens, bookcases, stacked storage containers, or other pieces of furniture.

Penthouses


New York penthouses are among some of the world’s most expensive properties, many of which are in high demand. The New York City Building Code defines a penthouse as an enclosed structure designed for human occupancy, placed on or above the roof of a building. Penthouses feature spacious layouts, dazzling city views, and private terraces for owners, sometimes even utilizing a private elevator leading up to the apartment foyer. 

Expect to pay a considerable amount for a penthouse, but there are endless perks that you can look forward to — starting with the best views. Penthouses in Chelsea provide buyers with spectacular views of the NYC cityscape. Most homeowners opt for floor-to-ceiling windows to appreciate the scene and allow maximum natural lighting to make the most of these views.  Another perk of purchasing a penthouse is that you won’t have any upstairs neighbors. It’s common knowledge that living in the city means having neighbors next to you and above you — an inescapable fact of life for most residents. Living in a penthouse provides one of the best amenities of city living — no noisy neighbors upstairs. A penthouse lifestyle also gives access to extra amenities, such as high-end appliances, state-of-the-art security systems, luxurious flooring, and more. Penthouses differentiate themselves by their luxury amenities and pride themselves on offering everything from private terraces and multi-floor layouts to private rooftop pools.

Lofts


If you prefer something with an open concept and spacious living area, then a loft might be the perfect option for you. Loft living is trendy and chic, and, lucky for you, Chelsea offers your choice of an abundance of lofts throughout the neighborhood. These spaces are typically former industrial buildings converted into modern apartments. Lofts can either be a top story or an ample, adaptable space converted for residential use. There are plenty of advantages to loft living — starting with high ceilings. This type of property is known for high, vaulted ceilings with exposed pipes, beams, and brick walls. Ceilings are typically in the 10-foot to 16-foot range. Not only do higher ceilings make your space feel more significant, but research has shown that higher ceilings bring greater creative thinking while lower ceilings limit creative thinking. High ceilings also mean plenty of light, thanks to the expansive windows standard in loft living spaces. Natural sunlight can lead to a more aesthetic appeal and pave the way for plenty of health benefits

If there’s one thing that never goes out of style, it’s exposed brick walls — a common feature in loft apartments. This design became popular in the late 1990s and has continued its popularity over the last few decades. Whether they’re new or old and painted red or white, exposed brick undoubtedly brings character and charm into a space. Plus, brick walls are bursting with texture, which helps set the mood for a room and creates a cozy atmosphere. Not only do exposed brick walls elevate a room’s aesthetic, but they can take significantly more wear and tear than a plaster or sheetrock wall. 

One of the main selling points for loft-style living is its spacious, open layout. Fewer walls help promote a more relaxed, open environment. Whether you prefer a minimal design or something with elaborate decor, the abundance of space means that you can transform your home however you want. The open concept enables residents to take advantage of various activities, like yoga in the morning or entertaining friends in the evening. Loft living is perfect for those who prefer an open concept and endless charm. 

Townhouses

New York City townhouses have long been among the city’s most sought-after real estate and boast a variety of attractive qualities. Townhouses are unique, often boasting historical details and endless charm. A townhouse is a private, multi-floor property that shares one to two walls of an adjacent property. Unlike living in an apartment, townhouse living means you won’t have neighbors above or below you making too much noise. There are brownstone, limestone, and brick townhouses in Chelsea, but brownstone is the most popular. 

In a densely populated city like New York City, one of the main draws to townhouse living is its unique level of privacy. Townhouses typically come with backyards, decks, or terraces and are commonly on charming, tree-lined streets. The homes offer coffered ceilings, stained glass, original woodwork, marble sinks, and elaborate decorative fireplaces. This property type is perfect for individuals who need more space for their growing family or value living in a place that affords privacy.

Contact Festina Lente today if you’re interested in exploring Chelsea real estate. Whether you’re in the market for a condo or a penthouse, the team at Festina Lente can walk you through the process from start to finish and help you find a place that’s right for you. With years of experience in the real estate industry and extensive knowledge of Chelsea luxury real estate, Simone Malferrari can help you find a house that truly feels like home.



Work With Simone

Simone's passion for real estate is rooted in the principality of Monaco, the place where this passion started. To this day Festina has an extensive network there, as well as a deep knowledge of the market.
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