They took the Flatiron Building down to its facade and its columns. Everything else inside the 1902 Beaux-Arts landmark is new, and when it reopens it will hold apartments for the first time since it was built.
The ownership group is The Brodsky Organization, GFP Real Estate, Sorgente Group and ABS Real Estate Partners. SLCE Architects is architect of record; William Sofield’s Studio Sofield is doing interiors. Tyko Capital closed a $357 million construction loan in October 2024 against a target sellout near $375 million. No general contractor has been publicly named.
Project Scope
Roughly 36 to 38 units are planned, two per floor from the 2nd through the 20th, with a full-floor penthouse on 22. Amenities include a 60-foot lap pool and about 5,000 square feet of ground-floor retail. Of the building’s roughly 255,000 square feet, about 200,000 converts to residential.
The exterior is a National Historic Landmark and a New York City individual landmark, so alterations to it are minor by design. The heavy work is all inside: new cores, new systems, new floor plates threaded through a triangular plan that gives almost every unit an awkward corner and a very good view.
Sales opened in early 2026 and moved fast. Fourteen contracts were signed between February and spring, ranging from $10.95 million to $58.5 million, including Manhattan’s top luxury contract of the week in March. Residences are targeted for later this year with amenities complete in early 2027.
Why It Matters
Conversions of this vintage are usually defeated by floor plate geometry and window-to-core distance. The Flatiron has the opposite problem and the opposite advantage: the plate is narrow enough that daylight reaches everything, and the triangular geometry that made it a mediocre office building makes it a distinctive residential one.
The financing is the part other developers will study. A $357 million loan on a 22-story landmark with no anchor tenant and no rental fallback is an aggressive underwrite. The February-to-spring contract pace suggests the lender read the market correctly, which is not something you could have said about Manhattan office conversions in 2023.
Project Team & Details
| Developer | The Brodsky Organization |
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| Owner / Client | The Brodsky Organization / GFP Real Estate / Sorgente Group / ABS Real Estate Partners |
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| Architect | SLCE Architects |
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| Consultants | Studio Sofield (Interior Design) |
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| Status | Under Construction |
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| Funding Source | Private |
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