NoMad real estate is booming. We recently covered some of the astronomical prices of condos hitting the NoMad market, and retail seems to be following suit. According to Crain’s, real estate investment firm Savanna is negotiating to purchase a 30,000 sf retail condo for $60 million at 1107 Broadway.
This prized piece of NoMad real estate is located at the northwest corner of 24th and Broadway just north of Eataly, facing Madison Square Park. The space encompasses the building’s basement, ground floor and second floor.
1107 Broadway is currently being completely rebuilt as luxury apartments with additional penthouse floors. It will be interesting to see who ends up opening in this retail space when all is said and done, but just as with 200 Fifth next door, this building is on its way to real estate history.