A membership-based primary care practice that is rapidly expanding. One Medical is planning to create a new site in Manhattan's NoMad neighborhood, which has experienced a slew of new construction in recent years, including the Virgin Hotel and the Ritz-Carlton.
According to brokerage company Newmark, which represented the landlord of the commercial space at the base of the building, One Medical has secured a 6,237-square-foot lease at The Noma, a boutique luxury condominium tower located at 846 Sixth Ave. between west 29th and 30th streets.
According to its website, One Medical, situated in San Francisco, already has 13 branches throughout Manhattan. With sites in cities such as Atlanta and Chicago, the company announced in May that its total membership count in the first quarter climbed by 28% to 767,000 from the previous year.
According to its website, One Medical is expanding to other locations for the first time, including Miami and the Dallas-Fort Worth area in Texas.
One Medical has leased a commercial condo space with 20-foot ceilings and all-glass wraparound exposure on the second story, with views of Herald Square and Penn Station, according to Newmark. Pater Realty Company, which Newmark represented in the transaction, owns the three commercial floors at the base of the 24-story luxury residential tower.
The Virgin Hotel and the Ritz-Carlton, both of which are set to debut this year, are among the many new buildings in the NoMad district in recent years. The Nomad Tower office building is another new development. The Noma was completed in 2018, according to Newmark.
According to Newmark research, the Manhattan retail market is showing signs of recovery, with availability dropping in all "core trade districts" between the third and fourth quarters of 2021, with retail leasing activity surpassing pre-COVID levels and up 57 percent from 2020. After two years of quarterly rent cuts, certain locations are starting to witness rent increases, according to Newmark.
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