NYC’s Iconic Landmark Transforms into Stunning 60-Apartment Residence.. Unveiling a New Era of Urban Living
The iconic Flatiron Building in Manhattan is set to become home to 60 luxury apartments. This transformation is part of a plan filed on August 28, 2024, to convert the historic landmark from office space to high-end condominiums. Developers aim to complete the project by the end of 2026.
The Flatiron Building has been mostly vacant since the departure of its last tenant in 2019. The conversion will provide much-needed residential units in a city facing a housing shortage.
Key takeaways:
- The Flatiron Building will be converted into 60 luxury condos.
- Developers filed plans for the project on August 28, 2024.
- The building has been mostly vacant since 2019.
- Completion of the project is expected by the end of 2026.
Flatiron Building’s Transformation: From Office Space to Luxury Apartments
The Flatiron Building, known for its unique triangular shape, will undergo significant changes. Developers plan to convert the historic site into 60 high-end condominiums. This move comes as many office buildings in New York City are being repurposed due to a declining office market and a growing need for residential units. The developers hope to receive city approval by the end of this year.
Details on the Planned Condominiums in the Flatiron Building
The proposed condominiums will utilize the building’s unique floor plates, allowing for larger living spaces compared to typical converted offices. Although specific unit sizes are not yet disclosed, the developers estimate that the building could accommodate around 100 units, each averaging about 1,998 square feet. Additionally, the ground floor retail space will be reduced to enhance the residential experience.
Background on the Flatiron Building’s Recent History
The Flatiron Building has a storied past, with its most recent tenant being the British book publisher Macmillan, which vacated in 2019. Following a tumultuous auction in 2023, the Brodsky Organization acquired a stake in the property. The building has faced challenges, including a failed $190 million bid by a mysterious buyer.
- Previous tenant: Macmillan (left in 2019).
- Acquisition involved a dramatic auction in 2023.
- Current developers: Brodsky Organization, GFP Real Estate, and Sorgente Group.
For more information, you can read the original report on the Commercial Observer.
