The Flatiron Building Condos: What the Offering Plan Says

Updated Oct 11, 2026 · 7 min read

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.

In brief: The Flatiron Building at 175 Fifth Avenue is being converted from a 1902 office tower into 38 condo apartments over three retail units. Its offering plan describes full-floor and half-floor homes with Gaggenau kitchens and Waterworks baths, plus a subcellar pool, hot spa and cold plunge. What sets it apart: it's a city landmark, so the outside of the building can't be changed without approval, several amenities sit in city-owned vault space under the sidewalk, and the budget pays for a 24-hour union front desk and an apartment nearby for the building manager.

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.

At a Glance

• 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.

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.

Amenities

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.

What It Costs to Run

The sponsor projects a first-year budget of about $3.5 million (September 2026 to August 2027). Residential owners carry almost all of it. A few lines stand out:

Staff is about 43% of the budget. Common-area electricity covers the central air, amenities, pumps, elevators and lighting. If the landmarks commission rejects the sponsor's request for outdoor lighting on the facade, the sponsor expects that line to drop by about $30,000.

Common charges run roughly $3,300 a month for the smallest home to about $14,300 for a full floor. Estimated property taxes are close to the same amount again. Read more on common charges and why operating costs differ.

Good to know: the sponsor hasn't set up a reserve fund for capital replacements. At closing you pay a non-refundable working capital contribution of two months' common charges.

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.

Who's Behind It

• Sponsor: Flatiron Owner LLC
• Architect of record: SLCE Architects
• Managing agent: Urban Associates, on an initial six-year agreement
• Selling agent: Corcoran Sunshine Marketing Group
• Sponsor's counsel: Starr Associates

The plan doesn't name an interior designer.

Common Questions

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.