Crain’s has a summary of the ongoing migration out of Chelsea by small and mid-level galleries, as rents continue to spike, and those who don’t own their buildings are slowly forced out.  “Just like in SoHo, galleries are the victims of their own success,” says Stuart Siegel, senior VP at CBRE Group Inc., who has specialized in Chelsea for years. “The galleries put Chelsea on the map. Then the world followed them.”
Read more at Crain’s
