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Meet NoMad's Gilsey House, The Ace Hotel of the 19th Century

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Today's Wall Street Journal moseys over to NoMad, the neighborhood that's been begging for the spotlight since the Ace Hotel opened its reclaimed wooden doors three years ago. Same old story, essentially: things are moving in! Things like bars and restaurants and even a math museum! (Which is, admittedly, adorable: "Its proximity to the Flatiron Building offered a quirky bit of symbolism for the new Museum of Mathematics: 'It's the most photographed angle in New York,' Mr. Whitney, the museum's director, pointed out.")

So where to live in this burgeoning commercial corridor? The grande dame of this stretch of Broadway is Gilsey House, a Victorian pile of cast-iron decadence at the corner of 29th Street, directly across from the Ace, and also built as a hotel. The over-the-top mansard roof now houses residential co-ops, converted in 1980, including two lofts currently on the market: unit #6C, a two-bedroom listed for $1,895,000, and unit #7B, a similar-sized though triangular two-bedroom for $1,649,000.

Consider #6C in Gilsey House, purchased by the current owners in 2005 for $998,000. It's been renovated, but is the current ask reflective of NoMad's surging popularity or natural market growth? Keep in mind it's still under $1,000 per square foot:

Also measuring in at a spacious 2,000 square feet is unit #7B, last sold in 2003 for an undisclosed amount and first put on the market back in 2007 for $1,795,000 before a series of small pricecuts. This renovation is a bit brighter, though not especially characteristic of a tricked-out Gilded Age landmark building:

Except for the quirky floorplan, priced at a bargain $824/square foot:

Two other units at 1200 Broadway have closed in 2011, a flex one-bedroom on the fourth floor for $1,357,700 and a palatial four-bedroom corner unit for $3,150,000.
· Adding Spice in 'NoMad' [WSJ]
· 1200 Broadway #6C [StreetEasy]
· 1200 Broadway #7B [StreetEasy]
· NoMad coverage [Curbed]