ISSUE NO. 08 · 2026
FIFTHAvenue
Building Rental Activity
NoMad / Midtown South Sales Report
NoMad / Midtown South Rental Report
Four units are listed for sale at 325 Fifth, and July was a quiet month on this side of the building: no closing in the past thirty days, nothing in contract, and nothing new to market — the freshest listing, a two-bedroom asking $2.45 million, arrived thirty-two days ago, just outside the window.
The median ask is $1.45 million, and time is the heavier number: the average listing has been up 138 days, with one one-bedroom at 259.
The movement is all in the asking prices. Both one-bedrooms, at $950,000 and $1.1 million, have already cut. Of the two two-bedrooms, the $1.795 million has taken $100,000 off while the $2.45 million holds — it's the newest listing on the board. Three reductions across four listings is a board repricing itself in real time.
Bottom line — Buyers closed thirteen deals in this neighborhood last month, but they were choosing from more than a hundred listings — in that market, the sharpest price wins the showing. The gap at 325 Fifth is pricing, not product; the cuts already made are steps in the right direction, not the destination.
The rental side is where 325 Fifth is transacting. Two units are listed for rent and three are in contract — a 60% lease-up rate — and the three that signed did it fast: one-bedrooms at $5,300 and $6,300 and a two-bedroom at $9,500, each finding its renter within two to three weeks of listing. Not one of them cut its price to get there.
The active board asks a median of $7,250 and averages 37 days on market. The spread is one of each: a one-bedroom at $6,000, three weeks in, and a two-bedroom now at $8,500 — down from $9,500, the only reduction on this side of the building, made while its neighbor signed at $9,500 in fourteen days.
No 325 Fifth lease shows up among the area's closed leases this period — the building's July story is the pipeline, and the pipeline signed three in a month.
Bottom line — Three contracts in a month at full ask, two units left: renters answer quickly here at the right number, and the evidence for what that number is sits a hallway away.
| Apt | Size | SF | Price | Reduction |
|---|---|---|---|---|
| 8E | 1 Bed | 688 | $950,000 $1,381/SF |
$19,000 (−2.0%) |
| 24F | 1 Bed | 688 | $1,100,000 $1,599/SF |
$50,000 (−4.3%) |
| 18H | 2 Bed | 1,198 | $1,795,000 $1,498/SF |
$100,000 (−5.3%) |
| 41D | 2 Bed | 1,280 | $2,450,000 $1,914/SF |
| Apt | Size | SF | Rent | Reduction |
|---|---|---|---|---|
| 12G IN CONTRACT |
1 Bed | 816 | $5,300 |
|
| 32E IN CONTRACT |
1 Bed | 886 | $6,300 |
|
| 29C IN CONTRACT |
2 Bed | 1,151 | $9,500 |
|
| 12E | 1 Bed | 687 | $6,000 |
|
| 14C | 2 Bed | 1,282 | $8,500 |
$1,000 (−10.5%) |
Thirteen homes closed in NoMad and Midtown South over the past month, at a median of $2.275 million and $1,702 per square foot, ranging from $638,000 at the entry to an $11.4 million penthouse at the top. Sellers who closed gave up 6.4% off final ask on average — and the longest-sitting units gave the most, up to double digits.
The other side of the ledger is inventory: 112 homes actively listed against 35 in contract — about eight and a half months of supply at July's closing pace, and among the closings the average wait was 107 days. Buyers here have a deep shelf and the time to work through it, and the closing discount shows they're using both.
Bottom line — This is a selective market, not a stalled one — thirty-five contracts and thirteen closings a month prove deals get done, but with eight-plus months of supply behind them, the sellers who close are the ones priced to the moment. An ambitious number here doesn't get negotiated; it gets skipped.
Seventy-five units rented across NoMad and Midtown South in thirty days, with forty-five more in contract. The median lease signed at $6,050, the average at $7,512, and the range ran from $3,300 at the entry to $27,000 at the top — genuine depth at the high end, and it's transacting.
The tempo reads slower than it is: days on market averaged 42, but that average is carried by a handful of units that listed months ago and finally cleared — the typical lease came together in under three weeks. Against 143 active listings, the closing pace works out to just under two months of supply.
Bottom line — Demand is broad, quick at the right number, and reaches surprisingly high price points. An empty unit in this market is leaving rent on the table — price it to type and it moves in weeks.
New York, NY 10003