(Image courtesy of The Illadelph)

Chelsea is at the center of the New York City art world, and with so many galleries to choose from, we've compiled a list of five of our favorites. Whether you're an art connoisseur or just looking to test the waters, this list is for you.

It’s been a long several years for 15 Renwick Street. The former brownstone located on the seemingly quiet street of Renwick was demolished back in 2008. The demolition was set to make way for a new luxury condominium, compliments of Ismael Leyva Architects with Douglas Elliman at the helm. Yet, the 70,000-square foot development site (located in the western portion of the Soho neighborhood) has been sitting undone since 2009, and now has renderings out flaunting a new facade.

Mere weeks away from breaking ground on the first building of the massive Hudson Yards development, the company in charge, Related Cos., has lined up financing for a new residential project right across the street. New York State’s Public Authority Control Board has authorized up to $54 million in tax exempt bonds for the 139-unit tower at 529 W 29th Street. The project is only eligible for these tax-exempt bonds due to the fact that Related is planning to sell some of the apartments to residents in the low to moderate income bracket at affordable rates.

It seems as though the buyers of Manhattan’s real estate market are leaving flashy, over-designed apartments behind, as many are beginning to seek residences that embody subtle elegance. The Citizen, a 29-unit building located at the nexus of Chelsea and the Flatiron District, is a great example of this shift in taste. The newly constructed building, which sits at 124 West 23^rd Street between 6^th and 7^th avenues and stands 16 stories tall, is a place where environmental sustainability and contemporary design are seamlessly combined. Hitting the market within the last month, the Citizen steers clear of the excesses of other luxury condominiums, providing apartment buyers in Manhattan with a space where less really is more.