ISSUE NO. 07 · 2026
FIFTHAvenue
Building Rental Activity
NoMad / Midtown South Sales Report
NoMad / Midtown South Rental Report
Four sales closed this quarter, and the per-foot spread between them is the story.
Price per foot ran $1,300 to $1,645 — wide for one building, and size doesn't explain it. Three units closed in sixty days or less. The fourth, 34D, sat 315 days — then closed at $1,645 a foot, the highest in the building. It didn't cave. It waited for its number and got it. Sale-to-list held at 95.2%.
Bottom line — At four sales there's no building price, and the spread means you can't borrow a neighbor's number either. What your unit fetches depends on floor and line. 34D is the lesson: you can hold for a high number here, but be ready to wait the better part of a year for it.
Five leases this quarter, and every one signed in under three weeks.
Speed is the story. Days on market fell to 8 from 44 in Q1 — units leased almost as fast as they listed. One went in a single day.
The median reads $9,000, up 84%. Don't take that at face value. Q2 leased four 2-beds and one 1-bed; a pool that's mostly two-bedrooms carries a high median on its own. It's mix, not an 84% jump in rent. The 2-beds signed at $9,000 to $9,500, the lone 1-bed at $6,000. That's the actual rent picture.
Bottom line — This is a landlord's quarter on the strength of speed, not price. Two-beds are leasing near $9,000 and moving in days. If you're holding empty, the demand is there and the wait is short — just don't read the median as a rent increase your unit will command.
| Apt | Size | Sold | DOM | Date |
|---|---|---|---|---|
| 23E | 1 Bed | $1,065,000 $1,521/SF |
— | Jun 23 |
| 14C | 2 Bed | $1,666,600 $1,300/SF |
56 | May 21 |
| 18F | 1 Bed | $964,000 $1,401/SF |
60 | May 14 |
| 34D | 2 Bed | $2,105,000 $1,645/SF |
315 | Apr 7 |
| Apt | Size | Last Asking | DOM | Leased |
|---|---|---|---|---|
| 35C | 2 Bed | $9,000 |
17 | Jun 19 |
| 18H | 2 Bed | $9,000 |
13 | Jun 9 |
| 30B | 2 Bed | $9,500 |
5 | May 6 |
| 31E | 1 Bed | $6,000 |
1 | Apr 21 |
| 33F | 2 Bed | $9,500 |
6 | Apr 14 |
Ten and a half months of supply. That's the number that sets the tone.
Midtown South/NoMad is a patient market this quarter. Inventory is deep, and it's moving slowly — 115 days on market to close. Buyers have time and options, and they're taking both.
Price is holding through it. The median sat at $2.05M, $1,689 a foot, with a listing discount of 3.2% — sellers giving a little at the table, but not folding. Values are steady; it's pace that's soft.
That's the split to understand. Well-stocked and slow doesn't mean weak. It means the buyer sets the timeline and the seller sets the price — within reason.
Bottom line — This is a hold-or-price-sharp market. If you're sitting tight, values are firm and there's no pressure to move. If you're selling, expect it to take time and expect to give a few points — price it to the reality of ten months of supply, not to a market that isn't this one.
A hundred forty-three units rented, at a $5,625 median.
A steady quarter. Days on market at 30, supply just under three months, 48 units in contract. Not the fast absorption of some downtown pockets, but a healthy market with real depth and consistent movement.
The average ran $7,202 against the $5,625 median — a normal spread, larger units lifting the mean above the typical lease. Nothing unusual in the gap; the true high end of the neighborhood sits well above either figure.
Bottom line — A solid, functioning rental market with no drama in the numbers. If you're holding empty, demand is real and the wait is moderate. Price to what your specific unit is — size and finish set the number here, and the range across the neighborhood is wide.
New York, NY 10003