The Flatiron Building condo conversion is nearing completion, with luxury units priced up to $58.5 million after seven years of renovation.
The Flatiron Building condo conversion is entering its final stretch in New York City, closing a seven-year renovation that has turned one of the city’s best-known landmarks from a long-idle office tower into a market for ultra-luxury homes. The building, famous for its wedge shape and historic facade, is nearly ready for residents, with apartments listed for as much as $58.5 million.
That price puts the project in rare territory even by Manhattan standards. According to data compiled by Manhattan Miami Real Estate, only 21 residences currently on the public market or under contract in New York City are priced higher. The most expensive of those is a $128 million condo off Central Park. In the Flatiron, the range of homes starts at $11 million for three-bedroom units and rises to a full-floor five-bedroom residence with a balcony, which is already in contract.
The building’s return marks a major shift in the life of the 24-storey, 94-meter tower, which first opened in 1902 as an office building for the Fuller Company, a Chicago construction firm. Designed by Daniel Burnham for a wedge-shaped site at Broadway and Fifth Avenue, the structure was once mocked as “Burnham’s Folly” because some New Yorkers thought its thin profile might make it unstable. Instead, it became a defining part of the city skyline and a magnet for tourists.
For years, visitors gathered in the small triangular plaza out front to take photos with the full building behind them. That flow dipped a bit after scaffolding went up and the pandemic disrupted city life, said James Mettham, president of the Flatiron NoMad Partnership, which manages the space. He said traffic has started to return as the coverings come down and the building’s presence reemerges. “People are coming back to get their pictures, and then in turn will go shop at the local retail, and all the great food and beverage that's around here,” he said.
The current owners — the Brodsky Organization, GFP Real Estate, and the Sorgente Group — announced plans in 2023 to turn the building into condos after Macmillan Publishing, the last office tenant, left in 2019. The property then sat vacant through years of ownership disputes before work pushed ahead. Inside, Studio Sofield had to rework an office layout into open-concept apartments, while also dealing with the building’s unusual triangle, which narrows to just 1.8 meters at one point.
“The Flatiron Building condo conversion is nearing completion, with luxury units priced up to $58.5 million after seven years of renovation.”
Developers say the project’s appeal lies in preserving what made the Flatiron famous in the first place. Thomas Brodsky of the Brodsky Organization said the goal was not to erase the building’s character. Instead, the layouts and views were shaped by the architecture itself. The exterior restoration has been equally careful. Beyer Blinder Belle, which led the work on the facade, used a specialist manufacturer in California to recreate and restore thousands of terra-cotta pieces, reinstalling each one by hand.
The renovation has also brought back pieces of the building’s past that had been hidden for decades. Workers uncovered a balcony at the triangular point on the 20th floor, matching an existing balcony one floor higher, and restored it. In the basement, crews found parts of an old revolving door, which had been too damaged to save, so it was replicated. Other remnants, including stair balustrades, old menus, tools, a piano, advertisements, and clothing, are being woven into the new design or displayed in the lobby.
New amenities underline how far the landmark has moved from its office-era roots. Plans include an 18-meter pool, a billiards room, a piano lounge, and a wellness center, along with upgraded street fronts and lighting that will make the exterior easier to see at night. The building’s over 1,000 windows were replaced with thicker, more energy-efficient units designed to block street noise, while exposed steel beams and other industrial details were kept visible in some apartments as a nod to the tower’s engineering history.
New residents are expected to begin moving in over the coming months, and the owners say the entire project, including the amenities, should be finished in early 2027. The scaffolding is expected to come down by the end of summer, setting up the first full public view of the restored Flatiron in seven years. For New Yorkers, the story is bigger than luxury real estate: it is about what happens when one of the city’s most recognizable buildings is preserved, repurposed, and handed to a new generation. The takeaway is simple — a landmark that once defined the skyline is about to help define the city’s luxury housing market too.
Frequently asked questions
What is the Flatiron Building being converted into?
It is being turned from a long-idle office tower into luxury condominiums. The current owners announced the condo plan in 2023 after the last office tenant left in 2019.
How expensive are the new apartments?
Listings start at $11 million for three-bedroom units and go up to $58.5 million. One full-floor five-bedroom residence with a balcony is already in contract.
Who owns the building now?
The owners are the Brodsky Organization, GFP Real Estate, and the Sorgente Group.
When will the project be finished and when can residents move in?
New residents are expected to start moving in over the coming months, and the owners say the full project should be finished in early 2027.
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