Opening Soon

Flatiron Building

The Flatiron Building is Daniel Burnham's landmarked Beaux-Arts wedge at 175 Fifth Avenue, where Fifth Avenue meets Broadway and East 22nd Street in Manhattan's Flatiron District.

Official Website
TMW IntelligenceVerified Oct 7, 2026
AnnouncedBreaking GroundConstructionOpening SoonNow Open
01.01.25
Start
10.26
Completion
38
Units
22
Floors

Financed with $357M from Tyko Capital in 10.21.24.

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Details

175 Fifth Avenue, Manhattan. 22 floors and 38 residences. Broke ground January 2025, completing October 2026. Financed with $357M from Tyko Capital in October 2024.

The story so far
Announced 2023Brodsky Organization + Sorgente Group announce conversion of the landmark Flatiron Building into 38 condos after the 2023 auction
6sqft.com
Financing secured Oct 2024$357M construction loan from Tyko Capital for the condo conversion per Commercial Observer, Oct 2024; 255,000 sf stated
commercialobserver.com
Broke ground Jan 1, 2025
Sales launched Oct 2025Sales launched at the Flatiron Building in October 2025 with the offering plan filed and the first contract signed; the 38-residence conversion carries a projected sellout above $380M
propmodo.com
Tenant announced Apr 29, 2026Via Carota chefs Rita Sodi and Jody Williams sign on for a Bar Pisellino outpost in the Flatiron Building's ground-floor retail, per Time Out, 6sqft and Brodsky
timeout.com
First closing at the Flatiron Building Aug 2026an 18th-floor, 3,020 sq ft residence traded at $15.65M, the first condominium sale ever recorded in Daniel Burnham's 1902 landmark, with at least 15 units in contract including a $58.5M penthouse and move-ins anticipated to begin in the fall.
aol.com
Flatiron Building passes 17 sales Sep 2026a Flatiron condo landed one of Manhattan's priciest contracts of Sept 14-20, bringing the conversion to 17 units sold at asking prices averaging about $4,800 per sq ft
therealdeal.com
Expected opening Oct 2026
Milestones are dated to when they actually happened and linked to their source. This record fills in over time as TMW tracks the project.
Supply pressure 72 · SaturatedNew York City marketMarket →
Projected pricing $•,•••/sfFull projectionProjection →
Compare projectsAnalyze the market
About the project

The Flatiron Building is Daniel Burnham's landmarked Beaux-Arts wedge at 175 Fifth Avenue, where Fifth Avenue meets Broadway and East 22nd Street in Manhattan's Flatiron District. The Brodsky Organization and Sorgente Group, with GFP Real Estate and ABS Partners in the ownership group, are converting the 255,000-square-foot, 22-story office landmark into 38 condominium residences, with SLCE Architects leading the conversion and William Sofield of Studio Sofield designing the interiors. The restoration replaces more than 1,000 windows and repairs the terra-cotta facade, while an LED scheme by L'Observatoire International lights the building at night for the first time in its history. Roughly 10,600-square-foot floor plates and the tower's triangular geometry yield unusually large great rooms, arched windows and white oak parquet floors, with the most dramatic homes taking the prow itself. Amenities include a lap pool, hot spa and cold plunge, a fitness center, games and residents' lounges with a kitchenette and bar, a wine room and bike storage, above about 5,000 square feet of ground-floor retail.

TMW Intelligence
Projected pricing at delivery
Flatiron Building
New York City · Coming Q4 2026 · Residences
TMW Projection
$1,850 / sq ft at delivery
Projected band $1,600 – $2,100 — modeled from 4 comparable launches nearby.
Sales launchTodayDelivery Q4 2026
Projected median
Confidence band
Today

Comparable set — basis for projection

Comparable launch1.2 mi
$1,850
Comparable launch1.2 mi
$1,850
Comparable launch1.2 mi
$1,850
Confidence: Medium · 4 comps · projections are modeled estimates, never listings
Projection values are a TMW Pro surface. The model, comps and band unlock instantly.Unlock with Pro
Scenario outlook
Flatiron Building
New York City · Coming Q4 2026 · Residences
TMW Projection
Projected price / sq ft
$1,850
at delivery, base case
Sell-out timeline
18months
from sales launch to final close
Absorption pace
4.5units / mo
modeled from the comp set

Scenario assumptions

Fed rate pathGradual cuts
Submarket supplyModerate
Luxury demandSteady
Comp appreciation+6% / yr
Scenarios recompute against the submarket comp set · directional, not guaranteed
Scenario values are a TMW Pro surface.Unlock with Pro
The New York City market 72 · Saturated supplyFlatiron District 28-project pipeline · 11,999 residences and keys · peak Late ’28 Explore the market →
Common questions

Frequently asked

Where is Flatiron Building located?

Flatiron Building is located in New York City.

When will Flatiron Building open?

Flatiron Building is opening soon, with completion expected in October 2026.

Who is developing Flatiron Building?

The Brodsky Organization, Sorgente Group is the developer behind Flatiron Building.

Who designed Flatiron Building?

Flatiron Building was designed by SLCE Architects, Studio Sofield.

How big is Flatiron Building?

Flatiron Building rises 22 stories with 38 residences.