Buying a home in Flatiron and NoMad: a guide from Lisa Maysonet

Flatiron and NoMad meet at Madison Square Park, and many buyers consider both. Flatiron generally runs from 14th Street to 23rd Street between Sixth Avenue and Park Avenue South. NoMad, short for “North of Madison Square Park”, picks up north of the park, roughly from 25th Street to 30th Street.

What makes Flatiron and NoMad distinct

The neighborhood takes its name from the Flatiron Building, completed in 1902 at the meeting of Fifth Avenue and Broadway. Madison Square Park is the shared front yard, with the Ladies’ Mile Historic District’s grand 19th-century department-store buildings to the south. NoMad has become one of Manhattan’s busiest areas for new luxury condominiums, hotels and restaurants, while Flatiron mixes loft conversions with newer towers.

Types of homes

• Loft conversions in former commercial buildings, especially in Flatiron and along the Ladies’ Mile.
• New-development condominiums, many overlooking Madison Square Park, with full-service amenities.
• Pre-war co-ops on the side streets.

What buyers should know

New development dominates much of the current supply. Buyers should read the offering plan, understand closing costs that buyers pay in new development (such as the transfer taxes sponsors often pass on), and compare common charges between buildings. Park-facing apartments command a premium, so views and future development around the park are worth weighing. In older loft buildings, check the reserve fund and recent capital work.

Working with Lisa in Flatiron and NoMad

Lisa Maysonet has worked in Manhattan real estate for 40 years and has negotiated more than $1 billion in property. She has advised developers on pre-development, marketing and on-site sales since the mid-1980s, so she knows how new-development deals are structured from both sides of the table.

Talk to Lisa about buying or selling in Flatiron or NoMad

Flatiron and NoMad: frequently asked questions

What is the difference between Flatiron and NoMad?

Flatiron sits south of Madison Square Park, roughly 14th to 23rd Streets. NoMad, short for “North of Madison Square Park”, runs north of the park to about 30th Street. Both share the park and many buyers search both.

Why is it called the Flatiron District?

It is named after the Flatiron Building, the triangular landmark completed in 1902 where Fifth Avenue and Broadway meet at 23rd Street.

Is NoMad mostly new construction?

Much of NoMad’s recent supply is new-development condominiums, alongside older loft buildings and pre-war co-ops. New development involves different costs, such as sponsor-passed transfer taxes, so compare carefully.

Who is a good real estate agent for buying in Flatiron or NoMad?

Lisa Maysonet, Associate Broker with Team Maysonet at Sotheby’s International Realty, has 40 years of Manhattan experience and has advised developers on new-development sales since the mid-1980s.