Manhattan's Flatiron Building is nearing a sellout of its 36 residential units, with only four remaining publicly listed for sale as the building's condo conversion prepares to open this fall. Approximately 82% of the available residences have found buyers, a pace that has surprised industry observers tracking the luxury new development market.
The building has topped Olshan Realty's weekly luxury contract report for two consecutive weeks. Last week, a four-bedroom unit spanning 4,626 square feet went into contract asking $23.95 million. This marks the second time in three weeks a unit in the building has claimed the top spot in the report, a rare achievement for a single address and a sign of strong demand competing against other high-end new constructions.
Originally built in 1902 and designed by Daniel Burnham, the 22-story tower operated as commercial office space for over a century. Its last major commercial tenant, Macmillan Publishing, vacated in 2019, leaving the building largely vacant. The property went to auction in 2023, eventually leading to a partnership with the Brodsky Organization to convert the landmark into residential real estate. Studio Sofield handled the interior design, adapting the building's unique triangular floor plates into one north-facing and one south-facing unit per level, with two full-floor residences on the top stories.
Pricing for the 36 sellable units ranges from just under $11 million for a three-bedroom to $58.5 million for the penthouse. Sales began quietly last fall and publicly early this year. In March, a buyer purchased the seventh floor for $30.5 million after the developers combined two originally planned apartments into a single 7,700-square-foot home.
Residents are expected to begin moving into their units this fall, while the building's full amenity package, including a 60-foot lap pool, fitness center, sauna, cold plunge pool, and billiards room, is slated for completion in early 2027. The conversion involved replacing approximately 1,000 windows to meet landmark preservation standards and installing the building's first exterior lighting scheme.