March 16, 2015
Commercial Marketing Begins for Virgin Hotel NoMad Center
The Virgin Hotel isn’t slated to open until 2017, but Douglas Elliman Property Management is already marketing the commercial spaces to be housed on its ground floor. The retail block, which will be called NoMad Center, is a combination of four buildings: 1204-1210 Broadway, 1212 Broadway, 1214-1216 Broadway and 28 West 30th Street.
Featuring a combined total of 100,000 square feet, the space is available for between one and six tenants. Retail rents in the area are already on the rise. Some report that retail rents are currently running as high as $500 per square foot, and they are expected to further increase as the neighborhood’s development continues. Elliman will be offering “incentivized rents” for the first two to three years of a lease to attract the kind of high-end, specialty retailers that are synonymous with NoMad.
NoMad is already on the rise as a home for trend-setting retail, with trendy stores such as Opening Ceremony, Maison Kitsune, Ioselliani and Dover Street Market and major brands such as Marimekko and Lacoste. We hope that Elliman will fill the NoMad Center with stores of the same level of quality and uniqueness.
NoMad Center is just one more indication of the area’s continued rise as a major player in New York’s retail scene, and we look forward to covering its evolution.