After Transformation, NoMad Emerges As Coveted NYC Enclave

Real Estate

A decade ago, purists winced when the first references to “NoMad” — denoting the area north and west of Madison Square Park — were first widely circulated. Just what we need, some moaned, a cutesy shorthand buzzword for a made-up Manhattan enclave that had never really been considered a neighborhood before.

But in the ensuing 10 years, the area bounded by Murray Hill, the Flatiron District, Chelsea and Midtown South has undergone a dramatic luxury transformation. In the process NoMad has become part of the lexicon of New York City neighborhoods, and now refers to one of the most highly sought Manhattan nooks in which to plant roots.

The irony? Few experiencing NoMad for very long would be likely to turn nomadic. No, they’d be inclined to stick around to see what new development sprouts next. In recent years, a trio of high-rise newcomers– Rose Hill, Madison House and Ritz-Carlton Residences, New York, NoMad – have helped put the neighborhood on the map, attracting an increasing number of well-heeled buyers and renters to the area.

Propelling residential prices in NoMad to new heights is Rockefeller Group’s Rose Hill, a more than 600-foot-tall, 45-story ground-up condominium at 30 East 29th Street. Rose Hill offers 123 residences and an array of extravagant club-inspired amenities. In both price per square foot and condo price, the newly completed, Art Deco-inspired tower boasts an average unit sale easily topping NoMad sales in general.

“Rose Hill offered the opportunity for us to build a luxury condominium development in our backyard,” says Meg Brod, senior managing director of development, Northeast, Rockefeller Group. “Our success demonstrates the appeal of NoMad as a thriving place [where] people want to live and Rose Hill is a highly-sought-after modern addition to the neighborhood.”

”NoMad is one of the best neighborhoods to live in New York City right now, and the data proves condo buyers are willing to pay to be here,” adds Shaun Osher, founder and CEO, CORE Real Estate. “Rose Hill is setting records in NoMad . . . and we don’t anticipate this momentum slowing down anytime soon. Rose Hill will continue to hold its value over time, not only because of the premier quality of the product, but also because of its prime location in the heart of New York City.”

Madison House

Recently completed and more than 80 percent sold, Madison House was among the highest-selling residential projects in the entirety of New York City in the first half of 2022. Situated at 15 East 30th Street in the heart of NoMad, Madison House is a 62-story, 199-unit condominium that stands as the tallest residential development in the neighborhood. Another hallmark of the development is that corner windows are part of every residence, as are 11-foot-high or higher ceilings and awe-inspiring views.

A Gachot-designed private lounge and bar, 14-seat private dining room, exercise room, yoga room and 6th floor sports lounge with golf simulator are among amenities.

Ritz-Carlton Residences, New York, NoMad.

No more than 16 one- and two-bedroom homes are offered at the Ritz-Carlton Residences, which soar above the Ritz-Carlton flagship hotel at Broadway and 28th Street in NoMad. “Helicopter perspectives” of Manhattan, as well as distinctive service and top-shelf amenities, are trademarks of the property designed by globally recognized architect Rafael Vinoly, which soars 500 feet above the flagship hotel. Also featured: two acclaimed restaurants, a spa and wellness center, Club Lounge, several meeting spaces and sprawling outdoor terrace. According to a statement by Douglas Elliman Realty, 50 percent of residences here are in contract.

It all further underscores the growing popularity of the NoMad neighborhood, a district whose brand name may have once inspired grimaces, but whose quality now sparks grins from those fortunate to claim residences within its borders.

Articles You May Like

Stocks making the biggest moves midday: Apple, Manchester United, Activision Blizzard and more
November on pace for best month since 1986
Warren Buffett explains his $750 million charitable donation on Thanksgiving eve
Feds greenlight key O’Hare terminal project
Crypto lender BlockFi files for Chapter 11 bankruptcy