Centrally located near Madison Square Park, The Nomad (which shares its name with the surrounding neighborhood north of Madison Square Garden) is a luxurious, impeccably designed hotel with attentive service but limited features (there's no spa or business center). The hotel's focal point is its eponymous bar and restaurant, featuring five separate-but-connected spaces that sprawl along the ground floor. Guests can order cocktails in the cozy, book-lined Library or order brunch in the sun-filled Atrium room, though they should be prepared for price tags that match the high level of style. The 168 guest rooms are luxurious (there are Sferra linens, Frette towels, and robes), and successfully evoke a bygone era with Persian rugs, old maps, and antique-looking fixtures. Hip travelers who are willing to sacrifice luxury (without sacrificing a popular scene) should consider the Ace Hotel just around the corner, which offers more amenities -- multiple bars, a popular coffee shop, and more common space in which to socialize -- at an often lower price.