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RKF Arranges $10.8 Million Sale of a Retail Condo in NoMad

12.11.17

241 Fifth Avenue Offers Prime, 24/7 Retail Opportunity—Just One Block from Madison Square Park

NEW YORK —RKF, the country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, announced today that it has arranged the $10.8 million sale of a 3,214-square-foot retail condominium at 241 Fifth Avenue, in NoMad, to an undisclosed buyer. The transaction closed on November 30, 2017.

RKF Vice President Brian Segall and Associates Andrew Jacobs and George Martinecz represented the seller, JTRE Holdings, in the transaction.

Just one block from Madison Square Park and a short distance from the Flatiron Building, 241 Fifth Avenue is well situated in the heart of NoMad, which boasts a strong daytime population of office workers as well as popular eateries—including Michelin Star restaurants—and trendy boutique hotels such as the Ace and the NoMad. Neighboring retailers include La Pecora Bianca, Rizzoli Bookstore, The UPS Store, 24 Hour Fitness, Shake Shack, Inday, Flatiron Hall, Wagamama and Eataly NYC.

Situated between 27th and 28th Streets, the building is a 20-story glass tower with 46 condominium units and 3,214 square feet of retail space (currently vacant) on the ground floor. It is a rare new construction project in the Madison Square North neighborhood, designated a historic district in 2001.

“The retail space at 241 Fifth Avenue was among our most exciting listings,” said Segall. “The property is prominently located within the  Nomad submarket  which has seen trememdous growth and now thrives with residental, daytime workers and tourists who enjoy the many restaurants, bars and shops throughout the day and night.”

About RKF

The leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $30 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco, Tokyo and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage.

RKF’s New York City office is located at 521 Fifth Avenue, Floor 7, New York, NY 10175.
T: 212.599.3700. www.rkf.com

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