A snapshot of recorded transactions across the Midtown West sub-market for the third quarter of 2026, covering Chelsea, Hell's Kitchen, Midtown / Garment District and the Theater District across office, multifamily, hotel, retail and development assets.
A high-level review of Q3 2026 investment-sales activity in Midtown West — volume, trends, and the five points that defined the quarter.
Four views of Q3 2026 activity — historical context, year-over-year composition, asset-class mix, and neighborhood concentration.
| Asset class | $ vol | % DV | % Tx | |
|---|---|---|---|---|
| Office | $244.5M | 60.8% | 20.0% | |
| Development | $101.7M | 25.3% | 30.0% | |
| Hotel | $35.0M | 8.7% | 10.0% | |
| Multifamily | $16.9M | 4.2% | 30.0% | |
| Retail | $4.0M | 1.0% | 10.0% |
| Neighborhood | Tx | $ vol | |
|---|---|---|---|
| Theater District | 1 | $238.2M | |
| Hells Kitchen | 4 | $75.5M | |
| Chelsea | 4 | $53.5M | |
| Midtown | 1 | $35.0M |
Each Q3 2026 transaction is plotted by neighborhood (street-level geocoding was unavailable, so points are clustered at neighborhood centroids). Bubbles are colored by asset class and sized by sale price — the $238.2MM 1441 Broadway office trade in the Theater District and the $60.0MM 601-615 West 50th Street development read as the dominant bubbles. Click any bubble for the deal details.
Near-term catalysts likely to shape Midtown West deal flow over the next two quarters.
1441 Broadway ($238.2MM) was the quarter's engine. Watch whether large Midtown West and Theater District office trades continue as pricing stabilizes and conversion-eligible stock competes for buyers.
601-615 West 50th Street ($60.0MM) and 538-542 West 29th Street ($33.5MM) show a firm land bid near Hudson Yards and the Far West Side. Watch assemblage and ground-up activity as 485-x underwrites new rental supply.
136-138 West 55th Street ($35.0MM hotel) and prime Chelsea/Hell's Kitchen multifamily above $1,000/SF show selective demand. Watch whether deal count re-broadens beyond the marquee office trade.
Q3 normalized 70% off an exceptional Q3 2025. The pace of $100MM+ closings into Q4 2026 will track financing costs; an easing rate path would support the office and development activity that led the quarter.
Complete transaction log for Q3 2026, sorted by activity date. Development trades show N/A for $/SF (the relevant metric is $/BSF); conversions, multifamily, retail, office and hotel show N/A for $/BSF (the relevant metric is $/SF). $/Unit is reported only for multifamily product with residential units. Footer $/BSF averages cover development trades only; $/SF averages exclude development.
| Address | Date | Price | Property type | $/SF | $/BSF | $/Unit |
|---|---|---|---|---|---|---|
| 349 W 54th St (1-1045-9) | 7/1/2026 | $3,250,000 | MF-MU Small | $1,050 | N/A | $1,083,333 |
| 136-138 W 55th St (1-1007-49) | 7/7/2026 | $35,000,000 | Hotel | $497 | N/A | N/A |
| 242 W 27th St (1-776-62) | 7/13/2026 | $6,326,000 | Office | $423 | N/A | N/A |
| 1441 Broadway (1-993-55) | 7/27/2026 | $238,190,529 | Office | $481 | N/A | N/A |
| 176 7th Ave (1-770-39) | 8/12/2026 | $3,400,000 | MF-MU 6-9 resi units | $870 | N/A | $485,714 |
| 212 8th Ave (1-770-75) | 8/13/2026 | $10,300,000 | MF-MU 10+ resi units | $1,041 | N/A | $572,222 |
| 538-542 W 29th St (1-700-55,56,57) | 8/20/2026 | $33,500,000 | Development | N/A | $453 | N/A |
| 601-615 W 50th St (1-1098-22,29) | 9/9/2026 | $60,000,000 | Development | N/A | $435 | N/A |
| 426 W 55th St (1-1064-46) | 9/9/2026 | $8,200,000 | Development | N/A | $310 | N/A |
| 341 W 44th St (1-1035-11) | 9/25/2026 | $4,050,000 | Retail | $561 | N/A | N/A |
| AVERAGES | $40,221,653 | $703 | $399 | $713,757 | ||
| MEDIAN | $9,250,000 | $561 | $435 | $572,222 |
Reach out with questions on the data, the market, or specific transactions.
