Midtown South

Blurred Lines: What Happens When Flatiron District and NoMad Combine?

(Credit: archdaily.com)

Just a few years ago, the NoMad district was more like a no-man’s land, made up of a less-than-pretty arrangement of gritty wholesalers, hair salons and counterfeiters.

Some of that persists, but the before-and-after contrast with the new wave of retailers and clientele in the neighborhood couldn’t be starker, as its boundaries with the similarly much-improved Flatiron District begin to blur.

“They’re starting to blend into each other,” said Michael Azarian, director of retail leasing at Massey Knakal. “The neighborhood has seen a flood of new boutique office tenants, [and] new residential and hotel developments that have been catalysts for change.” Read More

Sales Beat

Yeshiva University Lecture Hall Yields $15.5M Despite MTA Caveat

237-241 East 34th Street

A former Yeshiva University lecture hall at 237-241 East 34th Street in Murray Hill has sold for $15.5 million, city records show.

A caveat in the potential for development at the site didn’t stop a series of potential buyers from lining up for a competitive bid to buy the property, said Massey Knakal’s John Ciraulo, who handled the sale along with Michael Azarian and Kobi Leifer.

Three developers courted the university, but a New York City-based firm with a long track record of building dormitory space ultimately prevailed, with plans to do the same at the Yeshiva site. Read More