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.
More Nomad data ahead
Recent reports show that NoMad has taken over the top spot for priciest neighborhood in the city in which to rent, with a one-bedroom unit going for an average of $4,270/month. For most real estate aficionados this isn’t shocking, as the neighborhood has been growing into one of the city’s hottest spots for the past several years, but few know of the area’s fascinating past.
Named for our fourth president, James Madison, the 6.2-acre Madison Square Park was first used as a potter’s field, then an army arsenal, then a military parade ground and finally as the New York House of Refuge children’s shelter, until it was destroyed by a fire in 1839. After the fire, the land between 23rd and 26th Streets from Fifth to Madison Avenues was established as a public park enclosed by a cast-iron fence in 1847. The redesign included pedestrian walkways, lush shrubbery, open lawns, fountains, benches and monuments and is actually similar to the park that exists today.
Find out how our beloved madison square park came to be
Though she was recently spotted eying a $14 million Tribeca loft, it’s rumored that J.Lo has inked a deal on a $22 million duplex penthouse in NoMad‘s Whitman Building at 21 East 26th Street. She may have decided to up her budget thanks to a two-year, $26.3 million residency deal in Las Vegas. Or perhaps it was the Whitman’s A-list roster of residents that swayed her; her neighbors will include Chelsea Clinton and NASCAR’s Jeff Gordon.
Lopez’s new digs feature four bedrooms, six bathrooms, and 3,000-square-feet of outdoor space spread over four terraces with views of Madison Square Park.
Take a look inside Jenny from the Block’s new home