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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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

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.
Trade Area Summary

Basic Demographics

Median Household Income: $117,486
Consumer Expenditure: $31,849,613,970
Population: 726,089
Daytime Population: 2,061,162
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (87%)
Segment #2: A – Ultra Wealthy Families (12%)
Segment #3: I – Young Urban Singles (1%)
All Other Segments: 0%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

Occupancy
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: $64.29 – $128.57
Source 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
Source 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' Links 🔗

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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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 244 5th Ave
New York City
New York
10001
United States
Place Tags: NYC
Website
Retail Type: Streets & Neighborhoods

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