241 Fifth Recognized for its Impact on Residential Development in NoMad

Madison Square Park, above, in the Wall Street Journal

Doron Zwickel, director of sales at 241 Fifth spoke to the Wall Street Journal about the growing popularity of residential real estate in the NoMad district. 241 Fifth’s recent sellout garnered impressive sales prices of approximately $2,000 per square foot, and was noted as one strong example which led to the recent interest in the neighborhood. In addition to the growing tech scene in nearby Chelsea and Flatiron, NoMad attracts high-end buyers thanks to an abundance of parks, entertainment and dining options, shopping destinations and reputable schools.

“I think developers are beginning to realize the charm, the beautiful prewar buildings, the great potential,” says Doron. “The retail is improving tremendously, which brings higher-profile buyers to the neighborhood, and it’s just transforming—it’s amazing to see how it’s gone in such a short period.”