L to R: 212 Fifth Avenue; The Whitman; 10 Madison Square West
Prices in Nomad shot up a whopping 43 percent over the past five years, according to a new index from CityRealty, a marked increase that the developers of 212 Fifth Avenue may have been aware of when they put a $68.5 million price tag on their building’s triplex. If the sprawling apartment sells for anywhere near its asking price, it will set a record as the most expensive sale in the neighborhood, where other new developments have already raised the ceiling on the area’s sale records.
According to the Nomad Condos index, which tracks prices in the area so-named for being north of Madison Square Park, the average price per square foot of a condo in the neighborhood is $2,469, up 14 percent in just the last year and 43 percent from 2011, when it was $1,414. The ramp-up in the area’s prices is largely attributable to sales in several other new buildings, including 10 Madison Square West, Huys and The Whitman.
Thus far, there have been three sales over $20 million in Nomad condos, according to research from CityRealty, with the most expensive being two penthouse units at 10 Madison Square West that sold for $33 million and $36.6 million, and the third being a $20.2 million penthouse sale at The Whitman.
The 11 buildings in the Nomad Condos index are as follows:
- Starchitect condo prices grew 39 percent in 5 years, new index reveals
- Brooklyn, Queens are more expensive than they’ve ever been; Manhattan rents are down
- 15 Central Park West Takes Back the Title of Most Expensive Manhattan Condo
Tags : 10 Madison Square West, 15 east 26th street, 15 madison square north, 20 west 27th street, 21 East 26th Street, 212 Fifth Avenue, 225 fifth avenue, 241 Fifth Avenue, 31 east 28th street, 404 park avenue south, 45 east 25th street, 50 madison avenue, 76 madison avenue, Grand Madison, huys, the parkwood, the stanford, The Whitman Building
Neighborhoods : Nomad