December 8, 2016
NoMad Real Estate Roundup: MMR, Tim Rogers Salon, The Arlo Hotel
As the final NoMad Real Estate Roundup of 2016 demonstrates, our neighborhood continues to gain momentum as a center for deals and business opportunity in New York City. Here is all the latest news:
MMR Research Worldwide
MMR Research Worldwide is a leading international market research and consulting agency that will be making its home in NoMad for the foreseeable future. The firm is moving from 275 Madison Avenue to 15 West 27th Street, one of the Kaufman Organization’s Madison Square Portfolio buildings. MMR has signed a five-year lease for the entire eighth floor, a 5,909-square-foot space, which according to Crain’s New York Business, was originally listed at just over $70 per square foot.
Sally Hershberger | Tim Rogers Salon
Sally Hershberger is an iconic hairstylist with equal influence in the Downtown and Hollywood scenes. She famously styled Meg Ryan during her superstar run in the 1990s. Now, along with Tim Rogers, she has opened a 5,000-square-foot salon in NoMad at 25 West 26th Street. Allure Magazine recently featured the new studio in a spotlight video and article that you can find here.
281 Fifth Avenue
Construction of the massive new 52-story, 141-unit tower at 281 Fifth Avenue (rendering pictured above) is moving forward, with reports from YIMBY that the foundation work is already in process. With a height of 728 feet and 266,963 square feet of space, the building will be impossible to miss when complete.
130 Madison Avenue Sold for $14.5 Million
Walter & Samuels Chairman David I. Berley, along with an investment group, purchased a six-story building at 130 Madison Avenue for $14.5 million. Locals may best recognize the property by its ground floor tenant, Bella Napoli pizzeria. In total, the sale includes 13,200 square feet of air rights and 15,300 square feet of tenant space. In comments to the Commercial Observer, Berley was effusive in his praise for his new property and the neighborhood it calls home: “This building in NoMad is very special. NoMad has seen substantial development activity that we anticipate will continue for many years. We are excited about the opportunities this building presents in one of Manhattan’s most active neighborhoods for new development.”
220 Fifth Avenue
The Real Deal reports that a leasehold interest contract is nearly complete for 220 Fifth Avenue, a building in the Madison Square North Historic District. The contract for the 21-story, 150,900-square-foot building is between Stellar Management and Imperium Capital. The total leasehold value is estimated to be between $120 to $150 million.
The Arlo NoMad
Experience NoMad noted the announcement of the Arlo Hotel in previous Real Estate Roundups and now the 250-key “micro hotel” is open for business. Cool Hunting recently published a fantastic photo feature on the hotel amenities and panoramic views of the city both from the rooms and also a glass-floor rooftop balcony that is not for the faint of heart!