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Chelsea’s mom-and-pop shops are hanging on, for now
Brokers say that rents in the neighborhood will only grow
From Luxury Listings NYC: It wasn’t too long ago that Chelsea was a slightly grungy neighborhood on the fringes of the city. But not anymore. As high-priced residential projects like 505 West 19th Street — where a one-bedroom is listed for $2.1 million — continue to mushroom, especially around the uber-popular High Line, old-time retailers are shuttering their stores, falling victim to the area’s changing demographics. [more]