Renting an office in NOMAD

By Mitch Waldman

Renting an office in NOMAD

Renting an office in NOMADRenting an office in NOMAD is a top choice destination for creative companies. They come for the relaxed collaborative environment, open loft space, vibrant bar-restaurant scene and easy transportation access. NOMAD (NOrth of MAdison Park) is anchored by Madison Park (east 25th Street) to the south, 29th Street to the north, and between Madison and Sixth Avenues. Its namesake, Madison Square Park, was renovated in 2001 and offers terrific public space. Link here to the Madison Park Conservancy.

Creative Companies USing SHARED-SPACE PROVIDERS IN NOMAD

NOMAD is a magnet for new companies. The shared-space providers below are a great place to start and grow a company.  

 the_yard234 5th Ave @ 27th Street. Link here. 

 

techspace44 West 28th Street.  Link here. 

 

 Renting an Office in NOMAD renting an office in Nomad

To some degree, NOMAD has become a victim of its own success. TAMI start-ups used to migrate to the area for discounted rents. Today, rents are at an all-time high and the Q1 2015 average quoted price was $57.82 PSF. As a result many firms are being forced to look for more affordable space elsewhere including the Fashion District and Lower Manhattan. The data in the table shows the historic rise in asking rents over the last decade. It is provided by Costar, the commercial real estate information company.

Sample NOMAD Office Space

 

Madison/26th "Test Fit" 17,000 RSF, Call for rent

Madison/26th
“Test Fit”
17,000 RSF, Call for rent

 

 

Broadway/26th Street 6,300 RSF, asking $62

Broadway/26th Street
6,300 RSF, asking $62

 

 

Broadway/28th Private Floor 2,850 RSF, asking $42

Broadway/28th
Private Floor
2,850 RSF, asking $42

 

 

 

 

 

 

 

 

 

  

 

Fifth Avenue/29th Private Floor 5,000 RSF, asks $60

Fifth Avenue/29th
Private Floor
5,000 RSF, asking $60

 

 

27th Street - Gut renovated building with telecom redundancy. 5,909 RSF Floors, asks $65

Sixth Avenue/27th Street
Renovated with telecom redundancy
5,909 RSF multiple floors, asking $65

 

 

 

 

 

 

 

 

Smart Strategy for Renting a NOMAD Office

With NOMAD space in short supply and rents at a premium, it makes sense to hire an experienced and licensed Commercial Real Estate Broker that understands the market. Cogent Realty Advisors provides NO FEE Tenant Representation  to New York businesses. By utilizing our extensive office database and an established network of professional contacts, we will find you an office that satisfies your specific requirements. Contact Mitchell Waldman today:  (212) 509-4049.

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted in Midtown South