--- title: "NoMad New York, NY Condos: $1.96M Median Inside" description: Median condo prices in NoMad, New York, NY sit near $1.96M, with 83 days on market and 5.2 months of supply. Learn where your negotiating room really is. image: https://www.undividedre.com/hubfs/nomad.jpg --- [Skip to main content](https://www.undividedre.com/blog/nomad#main-content) [![Logo](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/undivided.png)](https://www.undividedre.com/) - [Home](https://www.undividedre.com/) - [About Us](https://www.undividedre.com/about-us) - Advisory Buying Selling - [Neighborhoods](https://www.undividedre.com/neighborhood) - [Value Index](https://www.undividedre.com/value-index) Contacts 175 Greenwich St, 38th Flr New York, NY 10007 [hello@undividedre.com](mailto:hello@undividedre.com) [+1.646.631.2220](tel:+16466312220) ![Youtube](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/youtube.png) ![Instagram](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/instagram.png) ![Linkedin](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/linkedin.png) [Book a strategy call](https://www.undividedre.com/schedule-an-appointment) [Book a strategy call](https://www.undividedre.com/schedule-an-appointment) [All posts](https://www.undividedre.com/blog/all) November 12, 2026 # Condo Prices, Market Pace and Neighborhood Guide for NoMad in New York, NY   Mukul "Micky" Lalchandani  ·  9 minute read ![nomad](https://www.undividedre.com/hs-fs/hubfs/nomad.jpg?width=1600&height=900&name=nomad.jpg) NoMad stands for North of Madison Square Park, a Manhattan neighborhood where residential towers mix with commercial buildings. It borders the Flatiron District to the south. ## Key Takeaway If you're buying in NoMad, start with resale condos and plan to negotiate on terms rather than race to bid. In the neighboring Flatiron District, only 3.8% of condos sold above asking in the 90 days ending September 30, 2026. If you need a co-op, look beyond this data, because nearly every recorded sale here was a condo. ## Who This Guide Is For You're weighing a condo purchase in NoMad or the Flatiron District and deciding how much to offer and how fast to move. ## What Is NoMad in New York? NoMad's headline price surge is a small-sample signal rather than a seller's market. In Redfin's neighboring Flatiron District data, the median condo price rose 32% on just 26 sales, yet condos took a median 83 days to sell. Your bargaining power here comes from time and terms, not speed. ### Where NoMad's Boundaries Run The local business improvement district maps NoMad roughly from 25th Street up to 30th Street, between Sixth Avenue and Lexington Avenue. The name is informal, so a building marketed as NoMad may sit in the Flatiron District, Midtown South or Kips Bay. Check the address against the district map before comparing prices. ### How NoMad Differs from the Flatiron District NoMad sits directly north of the Flatiron District across Madison Square Park. The two draw on the same buyer pool and have similar condo stock. Your search might also include the [best neighborhoods in the Flatiron District](https://www.undividedre.com/blog/best-neighborhoods-in-flatiron-district-new-york). ### The Madison Square North Historic District Part of the neighborhood is a city-designated historic district. The Landmarks Preservation Commission designated the Madison Square North Historic District in 2001. It covers property bounded roughly by Fifth Avenue and West 25th Street, extending north to West 26th Street and east along East 26th Street. Exterior changes in a landmarked building, such as windows or rooftop additions, need LPC approval. That adds time and cost to renovations. Before you assume past work in the building was done cleanly, ask whether it required permits. ### Why the Numbers Here Come from the Flatiron District The figures on this page are Redfin's for the Flatiron District, which borders NoMad. They are the closest published figures, not a NoMad-only count. If Redfin's Flatiron boundary excludes most of NoMad, the figures describe the neighbors more than NoMad itself. ## NoMad Housing Market Outlook With 45 condos on the market and the slow pace described above, you have time to weigh your options. Finding the right layout matters more than rushing an offer. ### What a Condo Costs Right Now The median condo price in the Flatiron District is $1,960,000. At the area's median price per square foot, a $2 million budget buys roughly 1,200 square feet. Treat that as a rough benchmark, not a guarantee. Carrying costs come on top of the price and vary by building. ### Why the Price Jump Needs a Caution Condos made up 26 of the 28 recorded sales in this window. The median for all homes rose a far smaller 7.6% (based on 28 sales) than the condo median did. With so few sales, a handful of large or new-development units can lift the median on their own. Read the jump as a change in what sold, not proof that every unit gained a third in value. A small sample cuts both ways: next quarter's median could fall just as sharply without any real shift in values. Before you price an offer, ask for building-level comparable sales rather than relying on the area median. ### How Close to Asking Homes Sell The median condo closed at its full list price. Deep discounts are uncommon, but so is paying over asking. Sale-to-list compares against the last asking price, so a listing that already took cuts can still show a full-price sale. Ask for each listing's price history and original list date. ### What 5.2 Months of Supply Means At the current sales pace, it would take about 5.2 months to sell every listing on the market. You can compare buildings without deciding in a weekend. Supply is measured across the whole area, though. A specific line or floor plan in a building you want can still be scarce. ### Where You Have Room to Negotiate Your room to negotiate is in the terms: - closing date flexibility - seller-paid credits toward closing costs - inspection or financing contingencies This matters most on listings sitting past the typical time to sell. In new development, the sponsor sets the terms and often won't move on price early in sales. You'll usually have more room on resale units and on sponsor units that have been listed a long time. ## At a Glance - Area covered: Redfin's Flatiron District, New York (borders NoMad). Window for all figures: 90 days ending 2026-09-30. Small samples: all-home figures rest on 28 sales and condo figures on 26 sales, so treat every number below with caution. - Median sale price, all homes: $1,969,448 (based on 28 sales) - Median sale price, condos: $1,960,000 (based on 26 sales) - Year-over-year change in median sale price: all homes +7.6% (28 sales); condos +32% (26 sales) - Median days on market: all homes 79; condos 83 - Sale-to-list price: all homes 100%; condos 100% - Share sold above list: all homes 3.7%; condos 3.8% - Months of supply: all homes 5.2; condos 5.2 - Homes for sale (inventory): all homes 47; condos 45 - Median price per square foot: all homes $1,604; condos $1,604 ## Condo, Co-Op or Rental: What You're Choosing Between ### Resale Condos Since the data is almost all condo sales, you can compare a resale unit's price per square foot directly against the area median. There's no board interview to pass, and this is where most of the negotiating room sits. The catch is that older condos may need building-wide work. Ask the managing agent for the reserve fund balance and any planned or recent special assessments. ### New Development Condos The sponsor sells units from an offering plan, so you're the first owner, with brand-new systems and sponsor-set terms. The catch is that sponsor-unit buyers can pay closing costs resale buyers don't, including the sponsor's transfer taxes. Ask whether the sponsor will cover them before you compare totals. ### Co-Ops Co-ops are common in older Manhattan buildings but almost absent from this data. To price one, work from current listings and that building's recent sales. The catch is the board, which approves buyers and often sets down-payment and post-closing liquidity requirements. Get the board's financial criteria before you make an offer. ### Loft Conversions These former commercial buildings often have high ceilings and open layouts. The catch is that many have windows on only one or two sides and irregular plans. Check the floor plan for legal bedrooms with proper windows and egress rather than relying on the listing's room count. ### Renting First Given the supply above, listings aren't vanishing quickly, and a lease lets you learn the blocks before committing. The catch is that rent builds no equity, and a year of rent plus moving twice has a real cost. Weigh that against the closing costs of buying now. ## Living in NoMad Day to Day ### Subway Access NoMad is served by the 28th Street station on the BMT Broadway Line. It has the R train at all times except late nights, the W on weekdays, the N during late nights and weekends, and the Q during late nights. A separate 28th Street station on the IRT Lexington Avenue Line, at East 28th Street and Park Avenue South, has the 6 train. Service changes late at night and on weekends, so check MTA service patterns for the hours you commute. ### Madison Square Park The park is the neighborhood's main open space and gave NoMad its name. The flagship Shake Shack started there as a hot dog cart in 2001. The park draws heavy weekday and event crowds. If you want a quieter outdoor spot, you'll be walking farther. ### Restaurants and Food Halls Dining is dense around the park and along Broadway and Fifth Avenue, from quick-service food halls to high-end dining rooms. Many spots cater to office and visitor traffic. Check evening and weekend hours on your own blocks, not just the busy corridors. ### Groceries and Everyday Errands In a mixed commercial area, the nearest full-size grocery store, pharmacy and dry cleaner can differ sharply between buildings a few blocks apart. Walk the routes from the specific building before you make an offer. ### Hospitals and Medical Care Nearby The nearest large hospital is NYC Health + Hospitals/Bellevue, roughly a mile to a mile and a half east in Kips Bay. It traces its roots to 1736 and is the oldest public hospital in the United States. The nearest large hospitals sit outside NoMad itself, so confirm your insurer's in-network urgent care within walking distance. ### Street Noise and Crowds A commercial district brings early deliveries, construction and late foot traffic. Treat noise as a primary factor when touring, not an afterthought. Visit at night and early morning, ask about window ratings, and check for planned construction nearby before you commit. ## Costs and Rules to Check Before You Buy ### Schools and Zoning Lookups Enter your home address in NYC Public Schools' "Find a School" search to see your zoned elementary school, which is set by defined borders. Zones can change and some schools fill their seats, so an address match doesn't guarantee a seat. Confirm directly with the Department of Education. ### Monthly Common Charges and Taxes Carrying costs vary by building. Ask the managing agent for current common charges, the last two operating budgets and the unit's tax bills. Two units at the same price can carry very different monthly costs. Compare price plus carrying cost, not price alone. ### Tax Abatements on Newer Condos Some newer buildings carry temporary property-tax exemptions. The NYC Department of Finance publishes a report of properties with 421a partial tax exemptions, which you can look up by borough-block-lot number or address. When an abatement phases out, the tax bill rises. Ask for the expiry schedule so a low current bill doesn't make the unit look cheaper than it will be. ### Rental and Sublet Policies Long-term leasing rules come from the building itself: condo bylaws, co-op sublet limits or minimum lease terms. Co-ops often cap how long or how often you can sublet. If renting the unit out later matters to you, read the house rules before you make an offer. ## Steps to Buy a Condo in NoMad ### Set a Price-per-Square-Foot Ceiling Use the median price per square foot above as a reference and decide your own ceiling before you start touring. Square footage on NYC condo listings can include a share of common areas, so ask how the listing measured it. ### Get Your Financing Documents Ready Get a pre-approval letter and proof of funds, since NYC condo sellers expect both with your initial offer. Many lenders review the building as well as the buyer, and some buildings don't meet lender requirements, which can limit your loan options. Ask your lender to review the building before you sign anything. ### Read the Offering Plan and Building Financials Your attorney reviews the offering plan, amendments, financials and board minutes. The minutes are where pending lawsuits, leaks and assessments show up. If the building won't share them, treat that as a reason to slow down. ### Offer on Terms, Not Just Price Long-listed units give ground on the terms described above, so settle those before you sign. Condo contracts in NYC are usually signed with a deposit after attorney review, and a weak contingency can put that deposit at risk. ### Close with a Real Estate Attorney New York City closings are attorney-led. You'll pay for title insurance and buyer-side taxes at the closing table. Get an itemized estimate of closing costs from your attorney early. Reach out if you need help finding local representation. ## Is NoMad the Right Fit for Your Search? ### Do You Need a Condo or Could You Buy a Co-Op? Condo buyers can use this page's data directly. If you're open to a co-op, read the co-op section and the at-a-glance note on sale mix first. The data is almost entirely condos, so a co-op search rests on that building's own sales. ### Can You Wait for the Right Listing? If you can wait out a listing that's been on the market a while, the slow pace works for you. Read "Where you have room to negotiate" and "Offer on terms, not just price." If you need to close fast, start with how close to asking homes sell. Waiting has a cost if rates or your own timeline change. Set a deadline for yourself. ### Does the Price per Square Foot Fit Your Budget? Run the worked example against your own budget, then read the sections on current condo costs and monthly common charges. Price alone understates the true cost, so add carrying and closing costs before you decide. ### Can You Live with Commercial-District Noise? If quiet streets are a priority, read the sections on street noise and the historic district before shortlisting buildings. Noise varies block by block and floor by floor, so judge each unit on its own. Let me know if you want to start looking at units. ## NoMad NYC FAQs ### Is NoMad Considered Midtown? NoMad is generally grouped with lower Midtown and Midtown South. It falls within Manhattan Community District 5, which covers 1.6 square miles and includes the Flatiron District, Herald Square and Times Square. ### Is NoMad Safe in NYC? NoMad and the Flatiron District fall within Manhattan Community Board 5, policed primarily by the 13th Precinct, with parts covered by the 14th and 18th Precincts. The NYPD's "Find Your Precinct and Sector" tool lets you look up your exact precinct and its CompStat data by address. ### Do You Pay the Mansion Tax on a NoMad Condo? Yes, if the purchase price exceeds $1 million, which is common at the condo median here. New York State's supplemental mansion tax on residential conveyances has a base rate of 1.000%. Buyers typically pay it along with the city's real property transfer tax, though sponsor sales can change who pays what. ### Can You Rent Out a NoMad Condo on Airbnb? Not as a whole unit for short stays: Local Law 18 prohibits renting out an entire apartment for fewer than 30 days. Short-term rental hosts must register with the Mayor's Office of Special Enforcement, and building bylaws often set stricter limits. ### Can You Use an FHA Loan to Buy a Condo in NoMad? Only in buildings on HUD's approved condo list, or through single-unit approval where eligible. Check the HUD FHA approved condominium search for New York and confirm with your lender. ### What Is the Weather Like in NoMad? The annual normal mean temperature at the Central Park station is 55.8°F, with a normal average maximum of 62.6°F and minimum of 48.9°F. These temperatures drive your winter heating costs and summer street heat. ## Sources - [Redfin: Data Center](https://www.redfin.com/news/data-center/) - [NYC Planning: Manhattan Community District 5 profile neighborhoods](https://www1.nyc.gov/assets/planning/download/pdf/community/community-portal/nta/mn05_nta_map.pdf) - [Madison Square Park Conservancy: Shake Shack](https://madisonsquarepark.org/park/park-guide/location/shake-shack/) - [NYC Landmarks Preservation Commission: Madison Square North Historic District designation report](https://s-media.nyc.gov/agencies/lpc/lp/2097.pdf) - [Wikipedia: 28th Street station (BMT Broadway Line)](https://en.wikipedia.org/wiki/28th_Street_station_(BMT_Broadway_Line)) - [NYC311: Find a School](https://portal.311.nyc.gov/article/?kanumber=KA-02991) - [Wikipedia: Manhattan Community Board 5](https://en.wikipedia.org/wiki/Manhattan_Community_Board_5) - [NYC Department of Finance: Real Property Transfer Tax](https://a860-gpp.nyc.gov/downloads/rf55zc18d?locale=en) - [NYC Department of Finance: 421a Exemption](https://www.nyc.gov/site/finance/property/benefits-421a.page) - [NYC311: Short-Term Rental Registration](https://portal.311.nyc.gov/article/?kanumber=KA-03559) - [National Weather Service: Central Park Climate Normals](https://www.weather.gov/media/okx/Climate/CentralPark/nycnormals.pdf) - [NYC Health + Hospitals: Bellevue](https://www.nychealthandhospitals.org/bellevue/about/) Share: ### Related posts #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/chelsea-houses-vs-elliott-chelsea-houses.jpg) Chelsea Houses vs Elliott-Chelsea Houses in Chelsea, NY](https://www.undividedre.com/blog/chelsea-houses-vs-elliott-chelsea-houses) #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/most-expensive-areas-in-chelsea-new-york-ny.jpg) Most Expensive Areas in Chelsea, New York, NY](https://www.undividedre.com/blog/most-expensive-areas-in-chelsea-new-york) #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/chelsea-houses.jpg) Chelsea Houses: Buying a Home in Chelsea, NY](https://www.undividedre.com/blog/chelsea-houses) #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/buying-a-home-in-chelsea-new-york-ny%20%281%29.jpg) Buying a Home in Chelsea, NY: Condos, Co-ops, and Pricing](https://www.undividedre.com/blog/chelsea-new-york) #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/pros-and-cons-of-living-in-flatiron-district-new-york-ny%20%281%29.jpg) Pros and Cons of Living in Flatiron District, New York, NY](https://www.undividedre.com/blog/pros-and-cons-of-living-in-flatiron-district-new-york) #### [![](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/best-real-estate-agent-in-flatiron-district-new-york-ny.jpg) Micky Lalchandani: Flatiron District, NY Real Estate Agent](https://www.undividedre.com/blog/best-real-estate-agent-in-flatiron-district-new-york) ![Background](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/footer/background.jpg) Begin the Conversation [Schedule a 30-min strategy call](https://www.undividedre.com/schedule-an-appointment) Links - [Home page](https://www.undividedre.com) - [About Us](https://www.undividedre.com/about-us) - [Services](https://www.undividedre.com/buy) - [Market Insights](https://www.undividedre.com/blog) - [Rental Process](https://www.undividedre.com/rental-process-archived) - [Contact](https://www.undividedre.com/schedule-an-appointment) Contact Us 136 Madison Ave, 6th Fl New York, NY 10016   hello@undividedre.com +1.646.631.2220 ![Youtube](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/youtube.png) [(opens in new tab)](https://www.youtube.com/@undividedaccess) ![Instagram](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/instagram.png) [(opens in new tab)](https://www.instagram.com/undividedrealestate/) ![Linkedin](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/hero/linkedin.png) [(opens in new tab)](https://www.linkedin.com/company/undividedre) [![Undivided](https://44624939.fs1.hubspotusercontent-na1.net/hubfs/44624939/raw_assets/public/undivided-theme-by-tam/images/modules/footer/logo.png)](https://www.undividedre.com/) UNDIVIDED INC. 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