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The Flatiron Building: From Office Space to Luxury Apartments

October 28, 2023

From Office Space to Luxury Residences

This week, the owners of the Flatiron Building announced plans to convert the iconic 22-story office tower into luxury residential apartments. And it makes sense, given that the distinctive triangular shape poses numerous design constraints that are likely better suited for residential than modern office space. 

Once completed, the Flatiron Building will include approximately 40 distinctive residences. It is not yet known if all the apartments will be condominiums or if some will be rentals. The office-to-residential conversion project is expected to span three years.

The decision to change the use of the building was driven by the current economic climate and the challenges facing the NYC office space market. 

Since 2019, the Flatiron Building has sat vacant and scaffolded following Macmillan Publishers' departure to the Financial District. Disputes between the building's ownership followed, which led to a highly publicized court-ordered sale earlier this year.

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The Flatiron Building stands at the intersection of Broadway, Fifth Avenue, and 23rd Street.