Would you pay $58.5m to live in this iconic New York building?
The legendary Flatiron Building in New York is being transformed into luxury apartments after seven years of renovation, with units priced up to $58.5 million.
The Flatiron Building, with its distinctive triangular shape, has been one of New York City's most recognizable landmarks for over a century. For the past seven years, it has been hidden behind scaffolding undergoing a massive renovation from an awkwardly laid-out office building into ultra-luxury residences. New apartments cost up to $58.5 million (£43.9 million). According to data from Manhattan Miami Real Estate, only 21 residences currently on the public market or under contract in New York City are priced higher, with the top spot held by a $128 million condo near Central Park.
With the transformation nearly complete, the Flatiron is ready for its next—and most extravagant—phase. For over 120 years, the building has been a testament to architectural ingenuity, and while its history is highlighted in the redevelopment, it also symbolizes how expensive luxury apartments in the city can get.
Before the scaffolding went up, tourists flocked to the small triangular park out front to take selfies with the building. After the pandemic hit, visitor numbers dropped slightly, but with the scaffolding removed, people are returning, says James Mettham, president of the Flatiron NoMad Partnership. He notes that getting the building back in all its glory is important to complement the surrounding area.
Originally built to house the Fuller Company, the 24-story, 94-meter-tall building has housed numerous tenants, including clothing and toy companies, magazines, and publishing houses. When New York design firm Studio Sofield was hired to reimagine the interior, it had to address the challenge of converting office space into luxury homes. Another hurdle was the building's shape: how to subdivide a triangle—only 1.8 meters wide at its narrowest point—into multimillion-dollar apartments? But the triangle itself, along with its history and architectural novelty, is exactly the appeal.
Designed to evoke a classic Greek column, the exterior features limestone, brick, and terra cotta ornamentation including lion heads, wreaths, eagles, and faces. Lead developer Beyer Blender Belle enlisted a specialty manufacturer in California to replicate and restore thousands of terra cotta pieces, reinstalling each by hand. The building's more than 1,000 windows also needed replacement—they were too heavy and difficult to open. The new windows are thick enough to block street noise, offering unusual silence for New York apartments.
