A snapshot of recorded transactions across the Midtown West sub-market for the second 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 Q2 2026 investment-sales activity in Midtown West — volume, trends, and the five points that defined the quarter.
Four views of Q2 2026 activity — historical context, year-over-year composition, asset-class mix, and neighborhood concentration.
| Asset class | $ vol | % DV | % Tx | |
|---|---|---|---|---|
| Office | $312.0M | 36.6% | 15.8% | |
| Multifamily | $235.6M | 27.7% | 42.1% | |
| Hotel | $203.0M | 23.8% | 5.3% | |
| Retail | $45.9M | 5.4% | 10.5% | |
| Development | $45.1M | 5.3% | 21.1% | |
| Special Purpose | $10.0M | 1.2% | 5.3% |
| Neighborhood | Tx | $ vol | |
|---|---|---|---|
| Chelsea | 10 | $375.5M | |
| Midtown | 2 | $284.0M | |
| Hells Kitchen | 4 | $162.5M | |
| Theater District | 3 | $29.6M |
Each Q2 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 $275.0MM 250 West 57th Street office trade, the $203.0MM 132 West 27th Street hotel, and the $148.25MM 350 West 43rd Street rental portfolio 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.
250 West 57th Street's $275.0MM trade signals renewed institutional appetite for well-located West Side office. Watch whether large office trades continue as pricing stabilizes and conversion-eligible stock competes for the same buyers.
Multifamily cleared a median $450K/unit with the large Hell's Kitchen portfolio near $455K/unit. Continued rent growth and 485-x new supply, plus Hudson Yards and Penn District spillover, underpin the premium bid for West Side rentals.
132 West 27th Street traded at $203.0MM ($1,379/SF, about $648K/key), a marquee Chelsea hotel price. Watch select-service and full-service hotel activity as Manhattan tourism and room rates hold.
Three trades above $148MM anchored the 272% YoY jump. The pace of large-ticket closings into 2H 2026 will track financing costs; an easing rate path would sustain the office, hotel and portfolio activity that drove the quarter.
Complete transaction log for Q2 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 |
|---|---|---|---|---|---|---|
| 136 W 46th St | 4/6/2026 | $4,000,000 | MF-MU 6-9 resi units | $719 | N/A | $444,444 |
| 120 West 23rd Street & 237-239 9th Avenue | 4/15/2026 | $46,500,000 | MF-MU 10+ resi units | $688 | N/A | $553,571 |
| 239 W 20th St | 4/23/2026 | $6,955,000 | MF-MU 10+ resi units | $782 | N/A | $289,792 |
| 136-140 W 44th St | 4/24/2026 | $18,050,294 | Development | N/A | $300 | N/A |
| 559 W 22nd St | 4/27/2026 | $4,000,000 | Development | N/A | $287 | N/A |
| 140-142 W 46th St | 4/29/2026 | $7,500,000 | MF-MU 10+ resi units | $592 | N/A | $441,176 |
| 324 W 15th St | 5/4/2026 | $19,000,000 | Development | N/A | $651 | N/A |
| 515 W 27th St | 5/5/2026 | $4,025,000 | Development | N/A | $226 | N/A |
| 242 W 38th St | 5/7/2026 | $9,000,000 | Office | $189 | N/A | N/A |
| 132 W 27th St | 5/27/2026 | $203,000,000 | Hotel | $1,379 | N/A | N/A |
| 461 W 47th St | 5/29/2026 | $1,400,000 | MF-MU Small | $347 | N/A | $350,000 |
| 357 W 16th St | 5/29/2026 | $7,700,000 | Retail | $1,351 | N/A | N/A |
| 250 W 57th St | 6/1/2026 | $275,000,000 | Office | $509 | N/A | N/A |
| 350 W 43rd St & 345 W 42nd St | 6/5/2026 | $148,250,000 | MF-MU 10+ resi units | $500 | N/A | $454,755 |
| 533 9th Ave | 6/9/2026 | $2,833,188 | MF-MU Small | $708 | N/A | $708,297 |
| 547 W 27th St | 6/18/2026 | $38,200,000 | Retail | $393 | N/A | N/A |
| 118 W 22nd St | 6/24/2026 | $28,000,000 | Office | $313 | N/A | N/A |
| 524 W 42nd St | 6/25/2026 | $10,000,000 | Special Purpose | $515 | N/A | N/A |
| 135 W 24th St | 6/29/2026 | $18,150,000 | MF-MU 10+ resi units | $1,439 | N/A | $756,250 |
| AVERAGES | $44,819,131 | $695 | $366 | $499,786 | ||
| MEDIAN | $10,000,000 | $592 | $293 | $449,600 |
Reach out with questions on the data, the market, or specific transactions.
