NoMad

Favorite

244 5th Ave New York City New York 10001 United States

Pros

✔ Central location with excellent transport links ✔ Trendy hotels and dining options ✔ Growing tech and startup presence

Cons

✘ High cost of living ✘ Construction and development noise ✘ Limited green spaces

Shopper Profile

✦ Young Professionals: Working in tech and creative industries ✦ Tourists: Staying in boutique hotels ✦ Preferences: Trendy dining, nightlife, co✦working spaces

Successful Retail Uses:

Trendy Dining, Nightlife, Boutique Shops

A burgeoning hotspot, NoMad (North of Madison Square Park) blends historical architecture with contemporary flair. Boasting upscale hotels, trendy eateries, and boutique shops, its vibrant atmosphere lures a young, affluent crowd. Rents are competitive, and a mix of established and emerging landlords shape its landscape.

Household Income in Trade Area: $140,000

Retail Sales in Trade Area: $1.5 billion

Population in Trade Area: 180,000

Tenant Sales per Square Foot: $1,000

Occupancy Rate: 93%

Anchor Tenants: Ace Hotel, Madison Square Park

Tenant Rent/Sales Ratio (%): 30% – 60%

Rent $ / Visitor (relative cost of the foot traffic): $64.29 – $128.57

Other Notes: Data sourced from public and private records.

Average Rent (psf): $181

Median Rent (psf): $119

Rent Range (psf): $119-$230

Rent Variability: High

Other Notes: Data provided by Retail by MONA, a New York based brokerage firm.

Preferred ISP(s)

Spectrum, Verizon Fios

Estimated Permit Timeline (weeks)

8-10

Landmarks Risk

Medium

Union Labor Disharmony Likelihood

Medium

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Primary Landlord: NYC

Retail Type: Streets & Neighborhoods

Address: 244 5th Ave
New York City
New York
10001
United States

MSA: New York-Newark-Jersey City NY-NJ-PA

Website

NoMad

Local Broker: Retail by MONA

Building Surveyor: DrafterMax

Permit Expeditor: Paul Fusco Consulting

Licensed Architect: Prose Architecture

Store Designer: Carina Miranda Studio

Real Estate Attorney: Fentin Goldman

General Contractor: Be Featured! Contact Us

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