By: Benyamin Davidsons

The iconic Flatiron Building has a change in the horizon. As reported by the NY Post, last week official plans with the Department of city planning were announced, to convert the 21-story steel-framed tower into a residential building. The 122-year-old building is said to be one of the most photographed landmarks in New York City.

The building, at 175 Fifth Avenue in the Flatiron District neighborhood of Manhattan, designed by Daniel Burnham and Frederick P. Dinkelberg, was opened in 1902. Perched between Broadway and East 22nd Street, the beloved triangular building was nicknamed “Flatiron”, then having the district named after the building. The name “Flatiron” alludes to its triangular shape, with reference to a cast-iron clothes iron.

The building started off as headquarters for construction firm Fuller Company. A survey in 2023 revealed that the Flatiron Building was the fourth-most-loved building in the country. The building has also been called “one of the world’s most iconic skyscrapers and a quintessential symbol of New York City”, per Wikipedia.

In 2023, the building’s ownership changed with three of the four previous owners taking over control of the building, as part of a disagreement regarding planned renovations, and following a high-profile flopped auction, which took place in May.

The building’s current owners, developers the Brodsky Organization, GFP Real Estate and the Sorgente Group, recently filed a private application to convert the 200,000-plus-square-foot property from outdated offices into 60 luxury condominium units. The Commercial Observer which had first reported rumors of the planned conversion, said that the Flatiron Building has long been close to completely vacant— since the departure of book publisher Macmillan, which left the building in 2019.

Brodsky CEO Daniel Brodsky previously said that the triangular address, situated across Madison Square Park, is “well-suited for residences,” per the publication. The developers did not immediately respond to The Post’s requests for comment.

Such a conversion, however, is not a simple request and will require an extensive review process. The developers hope to move along quickly, aiming to have the city’s approval before the end of the year. If that works out, they hope to complete construction and have residents move in by the end of 2026, according to the Commerical Observer.

So far, the details of the plans, including amenity offerings and unit specifications, remain obscure. The building’s “unique floor plates” will allow units to be more generously sized than other converted office apartments, which usually have lower ceilings. While the application does not specify anticipated apartment sizes, it does say that the structure could potentially fit about 100 on average 1,998-square-foot apartments. The application for 60 condos, specifies that apartments will be sold at market rate, per the filing. Also, the ground floor’s currently vacant retail space will be cut to 4,807 square feet, from 6,500 square feet to 4,807, possibly to make room for a lobby.

The outdoor facade, which is already covered with scaffolding, is also slated for some minor updates, including the replacement of the building’s windows and some limited exterior work—which has already been approved by the Landmarks Preservation Commission earlier in 2024, the Post reported.

Many NYC office buildings are working to convert into residential units, due to the city’s housing shortage.