NoMad
One of NYC's most active office submarkets. From trophy Fifth Avenue buildings to 99-year ground leases, we handle off-market NoMad deals, including the $65M 236 Fifth Avenue ground lease.
Office Rent/SF
Cap Rate Range
236 Fifth Ave Deal
Primary Tenant Base
Landmark NoMad Deal
236 Fifth Avenue: $65M 99-Year Ground Lease to Kaufman Organization
NoMad Submarkets
Fifth Avenue Corridor
Fifth Avenue frontage from 23rd to 30th Streets. Office over ground-floor retail, with steady demand for both.
Broadway / Park Avenue South
The eastern edge of NoMad, with larger floor plates and newer construction. Tech and media companies lease a lot of it.
Madison Square Park Adjacent
Buildings that face Madison Square Park directly. Trophy office, landmark facades, and ground lease candidates.
Property Types in NoMad
Class A Office
Avg: 150,000 SF
Class B Office
Avg: 75,000 SF
Mixed-Use
Avg: 100,000 SF
Ground Lease
Avg: Various
NoMad Transactions
View All Deals →NoMad Real Estate FAQ
What is the average cap rate for NoMad commercial properties?
NoMad cap rates range from 4.5% to 6.0% depending on building class and location. Park-adjacent trophy assets trade at 4.5-5.0%. Class B buildings on secondary streets reach 5.5-6.0%. Skyline Properties closed the $65M 236 Fifth Avenue 99-year ground lease in NoMad.
Why is NoMad attractive for commercial real estate investment?
NoMad (North of Madison Square Park) has become one of NYC's main tech and creative office districts. It has historic buildings, excellent transit, the park, and a busy restaurant and retail scene. Tech, media, and professional services tenants keep demand high, and rents have grown steadily.
What ground lease opportunities exist in NoMad?
For families that want to keep a NoMad building for generations and still pull capital out of it, a ground lease is often the right structure. Skyline Properties closed the $65M 236 Fifth Avenue 99-year ground lease to Kaufman Organization. Daniel Shirazi and Robert Khodadadian structure these deals, which take longer and involve more negotiation than a sale.
How do I sell a commercial property in NoMad off-market?
Skyline Properties handles confidential off-market NoMad sales. We know the institutional buyers, family offices, and REITs looking for NoMad office and mixed-use assets right now. Call Robert Khodadadian for a confidential valuation.
Own Property in NoMad?
Get a confidential valuation from the team that closed the $65M 236 Fifth Avenue ground lease. We know the qualified buyers looking for NoMad properties and can reach them without a public listing.