NoMad

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  • 244 5th Ave New York City New York 10001 United States
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1REC's Take
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Occupancy Information
Destination Rents
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1REC's Take
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
About Location
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
Occupancy Information
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.
Destination Rents
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.
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon Fios
Estimated Permit Timeline (weeks)
8-10
Landmarks Risk
Medium
Union Labor Disharmony Likelihood
Medium
Recommended Vendors 🔗

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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Get Directions
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
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