THE CONDO BOOK PROJECT

Flatiron Building

175 Fifth Avenue, Manhattan, NY 10010

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Overview

The Flatiron Building is being converted from offices into 38 condo apartments. Its offering plan details Gaggenau kitchens and Waterworks baths, a 60-foot pool and a 24-hour concierge, landmark limits on the exterior, and a first-year budget where staff is the biggest cost. The offering plan specifies engineered wood floors, Gaggenau appliances, a washer and dryer in each apartment and fan coil units for heating and cooling.

  • What it is: an office building finished in 1902 (the penthouse addition came by 1905), converted mostly to homes. The plan expected the first temporary certificate of occupancy around September 2026, subject to delays.
  • Size: 38 apartments, 38 storage lockers, 6 wine cellars and 3 retail units. No parking.
  • Layouts: mostly two homes per floor (North and South). Floors 20 and 21 are full-floor six-bedroom homes. The 22nd floor has three apartments, and a four-bedroom penthouse sits on top.
  • Offering prices: in the sponsor's current price list, priced homes run from about $11 million to $50 million. These are asking prices, not sales, and a few units weren't priced.
  • Common charges: roughly $3,300 to $14,300 a month, depending on the unit, under the sponsor's first-year projection.
  1. SubmittedNovember 2025
  2. AcceptedSeptember 2025
  3. 8 amendments

First-Year Budget

From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)

Ask Claude or ChatGPT: How do Flatiron Building's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills.

Each home's estimate, city bills and tax breaksSee it free →

Compare

FigureThis building1The Residences At West 9th Street245 units · 0.7 miaccepted 2025The Keller324 units · 1.2 miaccepted 2023
Average Offering PricePer Apartment$19.71MHighest$2.62M$4.46M
Unit mix, amenities, finishes, utilities and operating costs against The Residences At West 9th Street and The KellerUnlock the rest with a free account
How We Got This
  • Comps: the closest Manhattan plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closing Costs

The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.

All 2 closing costs in the plan, with their pagesSee it free →

The Building

Finishes

Kitchens

Every apartment gets a Gaggenau kitchen. Every layout has a 36-inch refrigerator, a separate freezer, a 36-inch induction cooktop and a beverage center. Counters are Olympian White Danby marble.

  • Larger layouts: two ovens or a double oven, a Gaggenau electric grill, a 54-inch Thermador hood and two Miele dishwashers (three on floors 20 and 21).
  • Smaller layouts: one oven plus a combination oven, a Gaggenau hood and one Miele dishwasher.

Bathrooms

Fixtures are Waterworks with Toto toilets. Primary baths get polished nickel fittings, a Waterworks tub and stone slab and mosaic floors. Secondary baths use matte nickel and powder rooms use dark nickel. For context, see bathroom brands in NYC luxury condos.

Floors and Windows

  • Floors: custom European white oak parquet from Florian Group (big, roughly 4-foot squares) plus white oak plank, over a rubber acoustic mat.
  • Windows: new Aluprof aluminum windows with insulated low-E glass, set into the original copper-clad wood frames. Only the lower sash opens.

Laundry, Heating and Cooling

  • Laundry: every home has a Whirlpool washer and ventless heat pump dryer, and most get two of each. There's also a shared laundry room with card-operated machines.
  • Heating and cooling: four-pipe fan coils with a Nest thermostat, so heat and air conditioning are available year round. Heat comes from new gas boilers, cooling from a central chiller.
  • Electricity: you pay for your own apartment's power.

Compare with NYC condo finishes since 2010.

Listings: The Flatiron Building on StreetEasy

Amenities, Staffing & Transportation

For 38 homes, the amenity list is long:

  • Subcellar: a pool about 60 feet long and 12 feet wide (3 to 6 feet deep), a hot spa and a cold plunge, with changing rooms. Storage lockers are here too.
  • Cellar: a fitness center of about 5,000 sq ft with a training room, a golf simulator room of about 480 sq ft, a bike room with about 19 spaces, and the wine cellar room.
  • First floor: the lobby, the historic great room the plan calls the "Fuller Room," and a package room.
  • Second floor: a lounge of about 1,150 sq ft, a billiard and game room, and a pre-function room with a kitchenette, servery and bar.

Good to know: amenities are for residents and their guests, and you have to be with your guests. The condo board can set hours and charge usage fees. The fitness center is unattended.

Tip: storage lockers and wine cellars are sold separately as licenses, not deeded units. Both carry monthly license fees. Compare with amenities by building size.

Staffing and Services

The plan projects a full union staff, paid at Local 32BJ rates:

  • 1 non-resident building manager
  • Concierges covering the desk 24 hours a day, 7 days a week
  • Doorpersons 16 hours a day, 7 days a week
  • 1 handyperson and 3 porters

A third-party operator is expected to run the pool. Full staffing may not start until the building fills up. See what a doorman costs in an NYC condo for context.

Transportation

  • Subway: 1 min walk to 23 St R W; 23 St-Baruch College 6, 4 min
Amenities, Staffing & TransportationSee it free →

Amendments

Amendment 7 Jun 26, 2026

Updates floor plans for three units, adds terrace square footage to Schedule A, discloses new pied-à-terre tax surcharge rules, and adds restrictions on penthouse terrace cable system.

  • Floor plans updated for Penthouse (Lower Level layout, linen closet, kitchen appliances, Upper Level terrace), Unit 20 (terrace space added), Unit 9 North (bedroom #2 bathroom modified with bathtub)
  • Schedule A updated to reflect exterior square footage for terrace appurtenant to Unit 20
  • Penthouse Upper Level terrace railings use stainless steel tension cable system; unit owners prohibited from climbing, standing on, or altering cables; violations subject to board remedies and fines
  • Pied-à-Terre Law surcharge applies to residential units over $1,000,000 (Phase 1: July 1, 2026–June 30, 2028) at 4.00%–6.50%; Phase 2 (July 1, 2028 onward) applies to units $5,000,000 and over at 0.80%–1.30%
  • Purchaser solely responsible for any pied-à-terre surcharge; sponsor makes no representations or warranties regarding applicability or amount
  • Retail unit easement added for ADA access through Freight Elevator
  • First closing projected to occur by February 28, 2027; if delayed, plan will be amended with updated Schedule B
  • Property description updated via Exhibit B; architect certification updated via Exhibit C

Amendment 6 Apr 10, 2026

Plan declared effective based on nine purchase agreements for ten residential units representing 26% of 38 units offered; adds FinCEN reporting rule disclosure effective March 1, 2026.

  • Plan declared effective: 9 purchase agreements received for 10 residential units (26% of 38 units)
  • FinCEN Reporting Rule disclosure added, effective March 1, 2026 for non-financed transfers to entities or trusts
  • Purchasers must provide documents for FinCEN compliance at closing or event of default triggered
  • Sponsor has no liability for purchaser failure to comply with FinCEN requirements
  • Plan term extended

Amendment 5 Apr 1, 2026

Updates offering prices for residential units, storage lockers, and wine cellar spaces at The Flatiron Building.

  • Updated offering prices for all residential units (3 North through Penthouse and retail spaces)
  • Projected common charges and real estate taxes for first year September 1, 2026–August 31, 2027
  • Storage locker offering prices range from $72,000 to $190,000 with monthly license fees
  • Wine cellar offering prices range from $295,000 to $350,000
  • Real estate taxes may increase materially after substantial renovation completion and building reassessment
  • Schedule A prices increased for 14 homes (median +0.4%): 4 South $11,650,000 → $11,750,000; 5 South $11,950,000 → $11,975,000; 6 North $18,900,000 → $19,150,000; 9 South $15,500,000 → $15,550,000; ...
  • Schedule A prices decreased for 1 home (median -11.0%): 16 South $19,600,000 → $17,450,000

Amendment 4 Mar 11, 2026

Updated offering prices for residential units, storage lockers, and wine cellars at The Flatiron Building.

  • Schedule A offering prices updated for all residential units
  • Storage locker offering prices and monthly license fees listed (38 lockers, $72,000–$190,000)
  • Wine cellar offering prices and monthly fees listed (6 units, $295,000–$350,000)
  • Projected common charges, real estate taxes, and carrying charges updated for first year September 1, 2026–August 31, 2027
  • Penthouse unit contains lower level accessory space (3,361 SF) for accessory use only, not legally usable for living/sleeping/cooking
  • Schedule A prices increased for 1 home (median +2.0%): 19 North $25,000,000 → $25,500,000
  • Schedule A prices set for 2 homes the plan listed without one: 16 North $19,600,000; 16 South $19,600,000

Amendment 3 Feb 4, 2026

Updated Schedule A with offering prices for residential units, storage lockers, and wine cellar spaces.

  • Schedule A updated with offering prices for all residential units ranging from $10,950,000 to $58,500,000
  • Storage locker prices ranging from $72,000 to $190,000 with monthly license fees
  • Wine cellar prices ranging from $295,000 to $350,000 with monthly license fees
  • Projected common charges and real estate taxes for first year of condominium operation (September 1, 2026 - August 31, 2027)
  • Penthouse unit includes lower level accessory space limited to accessory use only, not for living, sleeping, or cooking
  • Real estate taxes may increase materially after substantial renovation completion and building reassessment
  • Schedule A prices increased for 3 homes (median +7.3%): 5 South $11,650,000 → $11,950,000; 20 $48,000,000 → $51,500,000; 21 $50,000,000 → $58,500,000
  • Schedule A prices set for 2 homes the plan listed without one: 4 South $11,650,000; 19 North $25,000,000

Amendment 2 Nov 20, 2025

Updated Schedule A with current offering prices for residential units, storage lockers, and wine cellar.

  • Schedule A updated with offering prices for all units
  • Storage locker prices range from $72,000 to $190,000
  • Wine cellar prices range from $295,000 to $350,000
  • Projected common charges and real estate taxes for September 1, 2026 – August 31, 2027
  • Penthouse unit contains accessory space with restricted use (no living, sleeping, or cooking)

Amendment 1 Nov 4, 2025

Updated offering prices for residential units, storage lockers, and wine cellars with projected common charges and real estate taxes for the first year of condominium operation (September 1, 2026 - August 31, 2027).

  • Schedule A updated with offering prices for all reserved residential units ranging from $10,950,000 to $50,000,000
  • Projected common charges and real estate taxes for first year (Sept 1, 2026 - Aug 31, 2027) included
  • Storage locker offering prices provided (38 lockers, $72,000 to $190,000)
  • Wine cellar offering prices provided (6 units, $295,000 to $350,000)
  • Penthouse unit identified with accessory space restrictions and limited common elements
  • Note that real estate taxes may increase materially after substantial renovation completion and reassessment
What each amendment changed, line by lineSee it free →

Fine Print

What's Specific to It

  • Landmark rules on the outside. Any change to the exterior needs approval from the Landmarks Preservation Commission. New windows go into the original copper-clad wood frames, as the Commission required.
  • Amenities in city-owned vault space. The cold plunge, laundry room, storage lockers and wine cellars sit in city-owned vault space the city can reclaim at any time.
  • The condo rents an apartment for the manager. The budget includes about $150,000 a year, mostly rent of about $12,000 a month, for a nearby apartment for the non-resident building manager.
  • A pool run by an outside operator. The 60-foot pool is set to be managed by a third-party operator that supplies lifeguards, at roughly $180,000 in the first year.
  • Lobby art and furniture aren't yours. The sponsor or a related party keeps the lobby artwork and furniture, and owners would pay to replace furniture if it's removed.
  • Some amenities come later. Most shared spaces and full staffing may take about 12 months after the first closing, and the pool up to 24 months.

Listing photos of the Flatiron Building can show you the views. The offering plan, the document the developer filed with the New York Attorney General, tells you how the building will be run and what you agree to when you buy. New to these documents? Start with what a condo offering plan is.

Fine Print Worth Knowing

  • Landmark status. The building became a city landmark in 1966 and a National Historic Landmark in 1989, and it sits in the Ladies' Mile Historic District. As of filing, interior work that doesn't touch the facade didn't need commission approval, with no promise that stays true.
  • Vault space. If the city reclaims its vault space, moving equipment or amenities could be costly, and owners would pay through higher common charges or an assessment.
  • Zoning lawsuit. The conversion relies on the city's "City of Yes" zoning changes, which a lawsuit is challenging. If the lawsuit succeeds, the sponsor could fall back on an earlier approval. That route requires a restrictive declaration with a maintenance plan stricter than the landmarks law.
  • Older violations. The plan lists open building violations, including an unsafe facade report from 2024. It says a repair campaign is underway and the sponsor will make the required facade repairs.
  • Contract terms. You waive a jury trial and must keep the purchase agreement confidential. The sponsor can also restrict elevator access to a full-floor home to that home's owner.

FAQ

Does the Flatiron Building condo have a pool?

Yes. The plan describes a pool about 60 feet by 12 feet in the subcellar, with a hot spa and cold plunge, run by an outside operator that supplies lifeguards. It may not open until up to 24 months after the first closing.

How much are common charges at the Flatiron Building?

Under the sponsor's first-year projection, roughly $3,300 to $14,300 a month depending on the unit, with estimated property taxes of a similar size on top.

Can owners change their windows or the facade?

Not on their own. Because the building is a landmark, any exterior change needs Landmarks Preservation Commission approval, and the new windows are set into the original frames as the commission required.

Where this comes from: the building's offering plan (CD240377), filed with the New York Attorney General, including its amendments, Schedule A price list and Schedule B first-year budget. Prices are the sponsor's offering prices, not sales. Updated October 2026.

Team

The plan doesn't name an interior designer; 6sqft.com reports Studio Sofield.

Zoning

Zoning district
C6-4M

Today's zoning, from city data (PLUTO 26v2).

Nearby

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