Chelsea is a pretty solid neighborhood. East of 7th, it's quite commercial and has a bustle 24 hours a day. The residences are all massive apartment high rises and pretty much any store you can think of is within a couple of blocks. West of 7th is smaller apartments and row houses which are beautiful and the streets have a lot of trees and more of a real neighborhood energy. The restaurant situation in Chelsea leaves a little for wanting but there are some good ones (Markt and Grey Dog) and a few fun bars. Transportation is easy and as far as convenience, Chelsea is hard to beat. I would probably live west of 7th if I lived in Chelsea but it's a great neighborhood and oddly reasonable, rent-wise, considering its popularity.