November 21, 2018
Five Top Businesses and Firms Currently Making the Move to NoMad
Over the past several years, the NoMad neighborhood has seen a tremendous surge of revitalization. From dozens of new high-rise buildings to an influx of creative and technology companies to world-class eateries. Lately, the influx has expanded beyond the realm of updated apartments and new startups to more established firms with household names.
More and more people are now recognizing NoMad’s central location, great subway and bus transportation, iconic buildings, and the beauty of Madison Square Park. Whatever the resaons people are finding a multitude of reasons to live and work in this neighborhood, and they are moving or expanding into the neighborhood. Here are five notable firms that have made the move to NoMad in 2018, or who have announced plans to do so.
Seattle-based real estate listing juggernaut Zillow is planning to double its footprint in NYC, recently inking a deal to occupy five floors in the NoMad Tower at 1250 Broadway. Currently operating three NYC brands (StreetEasy, Out East and Naked Apartments), Zillow’s current offices at 130 Fifth Avenue house about 270 employees, but there is no doubt that number will grow when they officially make the move to NoMad early next year.
Coworking spaces are a feature throughout NoMad. Perhaps the youngest business on our list, Nomadworks recently took over 27,000 square feet of office space at 30th Street and Broadway. Drawing a special sense of identity from the neighborhood, the tech and design industries centered here, and the rise of the so-called “digital nomad,” this company has big plans establish a strong base here and expand beyond NoMad, eventually hoping to compete against WeWork.
3. A New Ritz-Carlton Hotel
Perhaps one of the most notable news items of the year was the announcement by Marriott that it would be building a new Ritz-Carlton Hotel in NoMad, on the high-profile corner of 28th Street and Broadway. Since the first Ritz-Carlton opened near Central Park (which still operates today), the chain has expanded to 91 locations globally. The fact that this luxury chain will build its second NYC hotel in NoMad is a testament to the company’s belief in the financial potential of the neighborhood. Ground has already broken on the new property, which is slated to open in 2021.
The Real Deal recently announced that social media giant Facebook is close to signing a lease to take over the entire office portion of 63 Madison Avenue in NoMad. The deal, which may already be finalized, would expand Facebook’s total Manhattan office space to 2 million square feet, adding hundreds of new jobs in NoMad.
5. Blink Fitness
Full disclosure—Blink’s corporate offices are already located in NoMad. However, this budget-friendly, body-positive fitness company has grown so rapidly over the past couple of years that they apparently need much more room. Just this month, they signed a deal with Viacom to sublease an additional 13,000 square feet of space at 386 Park Avenue South, effectively doubling their existing office space.
There may be a variety of reasons why these companies, along with many others, are expanding their reach into the NoMad neighborhood. Whatever the individual reasons, these moves point to a reality that is increasingly clear: NoMad is a great place to do business.