Brodsky, GFP & Sorgente Plan 39 Luxury Condos in Iconic Flatiron Building

The Brodsky Organization, GFP Real Estate, and the Sorgente Group have announced plans to transform the Flatiron Building at 175 Fifth Avenue into 39 condominium units, with retail space on the ground floor. The plans were detailed in documents submitted to the city’s Department of City Planning, under application 2024M0252.

Details of the Development

Initial reports indicated that the proposal included up to 60 units, as mentioned in the Environmental Assessment Statement dated August 22. However, subsequent documentation filed on August 29 clarified that the project would consist of 39 units. SLCE Architects are responsible for the design and architectural plans for the conversion.

The developers filed the Environmental Assessment Statement on August 26 and updated their Land Use Application with new information on September 3. The design includes two units per floor from the second to the 20th floor, while the penthouse will occupy the entire 22nd floor. The 21st floor will serve as storage space. While the filing does not explicitly mention condominiums, a contractor's letter included in the Environmental Assessment Statement describes the conversion as "luxury condominiums."

Design Challenges and Amenities

The unique tapering of the Flatiron Building’s floor plates and its landmark status complicate the configuration of more than two units per floor due to elevator shafts, required egress stairs, and existing window placements. The project does not provide rooftop open space as required by zoning regulations. Instead, approximately 8,300 square feet of residential recreation space will be located in the mezzanine and cellar levels, featuring amenities such as a gym, pool, lounges, library, and multimedia recreation room.

Construction Timeline

According to the Environmental Assessment Statement, the proposed project will not involve demolishing or expanding the existing building. It primarily focuses on interior renovations, with minimal exterior modifications like new windows, ground-floor doors, and mechanical equipment. Construction is scheduled to commence in early 2025 and is expected to take 18 months, with occupancy projected for late 2026. This timeline classifies the construction as short-term, in line with the 2021 CEQR Technical Manual.

Historical Significance

Originally built between 1902 and 1903, the Flatiron Building served as the headquarters of the Fuller Construction Company. As one of New York City's earliest steel-framed skyscrapers, it showcases a Beaux-Arts architectural style, reflecting the distinctive triangular shape of the block formed by Broadway and Fifth Avenue, just south of Madison Square Park.