Nikki Field of Sotheby’s International Realty is stepping into the spotlight at 262 Fifth Avenue, leading sales for Five Points Development’s ultra-slim NoMad tower as private showings gear up for May. The building, a pencil-like supertall that topped out last year, will offer just 26 full-floor and duplex condominiums, positioning each residence as a high-price, low-volume play in an already tight luxury segment.
According to The Real Deal, Field and Ben Pofche,r will partner with Sotheby’s International Realty Development Advisors to handle marketing for the project. A spokesperson told the outlet that private showings are scheduled to begin in May, with simplex homes starting at $7.5 million, mezzanine units at $8.75 million and duplexes at $18 million. Five Points founder Boris Kuzinez said, “As we near completion, we will begin engaging a select group of buyers, presenting a limited and highly considered residential offering.”
Skinny tower, tight footprint
The 860-foot tower, designed by Russian firm Meganom with SLCE Architects as executive architect, rises from a roughly 5,000-square-foot lot just north of Madison Square Park, as detailed by New York YIMBY. The outlet tracked the project’s long build-up, including shifting heights, revised unit counts and a topping out in 2024, and notes that the building’s strikingly narrow proportions are central to both its visual drama and its per-unit pricing strategy.
Why Field?
Field’s new role follows a run of prominent assignments. After taking over sales at 111 West 57th Street in mid-2024, she moved through much of the remaining inventory, as reported by The Real Deal. That track record of speeding up deals at marquee properties helps explain why Five Points turned to a seasoned luxury broker for a project that is built on scarcity instead of scale.
Financing and the market
The development secured roughly $180 million in financing from Madison Realty Capital and Cottonwood Group in 2023, and public reporting shows that Cottonwood later bought out Madison’s $90 million note, a sequence outlined by Bisnow. The condos are arriving in a market where new-development inventory is constrained, but competition for eight-figure buyers is fierce, so the sales team will be judged more on timing and pricing strategy than on volume.
The coming weeks should reveal how Field’s team rolls out its selective marketing plan and which buyers are drawn to an ultra-narrow, one-of-a-kind condominium offering. With showings set for May, the first signed contracts will serve as an early stress test of whether scarcity and spectacle can win over a cautious luxury crowd.
