Nikki Field, a prominent new development broker at Sotheby's, has been appointed head of sales for 262 Fifth Avenue, a supertall condominium tower in Nomad developed by Five Points Development Group. Field, known for rescuing struggling luxury projects, faces the challenge of selling 26 units in a building that is one of the most expensive offerings in the neighborhood, with prices around $4,000 to $5,000 per square foot.
Field's track record includes the sellout of 212 Fifth Avenue, where she sold an $80 million penthouse to Jeff Bezos in 2019, and the turnaround of 111 West 57th Street, where she and her team sold half a billion dollars in units after taking over when nearly a third remained unsold. "We built a pretty good reputation in rescuing buildings," Field said.
The 860-foot tower at 262 Fifth Avenue, designed with an offset core and black paneling, has been controversial for its impact on the Empire State Building's skyline view. The project faced community backlash and financing hurdles, but secured $180 million in construction and mezzanine financing in 2023. The attorney general's office approved its offering plan in 2024.
Field acknowledges the difficulty of selling in the current market, where new development inventory is at its lowest since 2014. "We'll see if we're wrong, we think we're going to sell out by the end of the year," she said, setting a target of December 31. Compass broker Vickey Barron expressed skepticism, noting the challenge of finding 26 buyers at that price point in the location.
Field's career spans nearly three decades, with a focus on international buyers, particularly from Asia, the Middle East, and Europe. She has authored a Chinese-language book on U.S. real estate investment and has been involved in projects like One57 and the Puck Penthouses. Her strategy combines branding, momentum-building, and salesmanship, and she remains confident in her ability to cement her team's credentials in new development.
