There's No Place Like NoMad

July 17, 2019

Jeff Bezos’s $80M NoMad Condo Purchase Generating Buzz

Anytime a billionaire moves into the neighborhood, it is news. When the world’s richest man moves into your neighborhood,  it reverberates not only in the neighborhood but throughout the city. Suffice it to say when Amazon founder and CEO Jeff Bezos purchased three adjacent apartments in NoMad last month for a total of $80 million, it generated plenty of speculation as to why a man of such means chose this New York neighborhood as his newest residency.

The news has already generated enough interest that even the financial publication Bloomberg has joined the buzz, curating a list of fine restaurants around Madison Square Park where the centibillionaire might enjoy a meal out.

Of course, this isn’t the first time in history that people of note have been drawn to this area. During the Gilded Age,  the NoMad neighborhood was home to New York’s wealthiest families,  literary icons, national politicians, royalty, groundbreaking scientists, and famous actors and musicians.

So why has Bezos’s arrival caused such a stir that articles are now being written to feature local establishments around his home? Most likely it isn’t about Bezos himself, but what his arrival signifies.   NoMad has been undergoing significant redevelopment during the past decade. It is gaining notoriety as both a design and a technology hub as well as a premier “foodie” destination. New buildings are going up almost faster than we can track them, and property values are increasing. When a neighborhood begins attracting people of fame, it adds an extra layer of prestige and even an economic boost to local businesses, as suggested by the Bloomberg article.

Is NoMad headed for a new Gilded Age? That remains to be seen. For now, local businesses, residents, and property owners can take it as a positive sign that people like Bezos are taking notice of this neighborhood. It can only signal that the neighborhood will continue its exceptional rise.