An 18th-floor residence in the Flatiron Building, an iconic New York City landmark, has been sold. The three-bedroom, three-bath unit at 175 Fifth Ave. was listed for $15.65 million, a slight increase from its September asking price of $15.5 million. This sale marks the latest transaction within the building as it undergoes a condominium conversion.
The deal was reported as the highest-priced contract of the week by the Olshan Luxury Market Report. The identity of the buyer and the final sale price are not yet publicly known.
The 3,020-square-foot residence features three of the building's distinctive arched windows. Inside, the layout includes a large, wedge-shaped great room, a primary bedroom with substantial walk-in closets and an en-suite bathroom, and a chef's kitchen equipped with marble countertops. Design elements incorporate white oak parquet floors, high ceilings, and exposed structural steel beams, offering views of the city skyline and rivers.
The triangular, Beaux-Arts building, designed by Daniel Burnham and Frederick P. Dinkelberg, was constructed in 1902. It served as an office building until its last commercial tenant, Macmillan Publishing, departed in 2019.
Following ownership disputes, the building was auctioned twice in 2023. A group led by GFP Real Estate, Sorgente Group, and ABS Real Estate Partners acquired it for $161 million in the second auction. The Brodsky Organization later joined the ownership group and is overseeing the condominium conversion. Sales for the residential units began last year, with occupancy expected to commence this fall.
To date, at least 15 units have gone into contract, including a full-floor residence on the 21st floor that was listed for $58.5 million. The 24-story building offers apartments ranging up to six bedrooms.
The conversion project included restoration of the building's terra-cotta and limestone facade and its cornice, along with the replacement of over 1,000 windows. Modern interiors were designed by William Sofield's Studio Sofield.
Amenities available to residents include 24-hour doormen, a 60-foot lap pool, a sauna, a billiards room, a lounge with a kitchenette, and bicycle storage. Corcoran Sunshine is handling the sales and marketing for the residences.
