Going residential in Flatiron

REAL ESTATE • In Contract

Last spring’s chaotic auction of the Flatiron Building — sold not once but twice after the first winning bidder failed to come up with the deposit — was hard to watch. Aging icons deserve better. 

Now comes The Brodsky Organization, a developer with deep NYC roots, to help the new owners convert the iconic building to residential. Given the classic office building’s retrograde interior, it will take some doing (roughly three years to create approximately 40 new units, Brodsky says). But buying a floor-through condo in the Flatiron Building sounds like an innately appealing idea, so we’ll hope for the best. 

In the meantime, for a feel for what’s recently traded in the neighborhood, here are four properties currently in contract in the $3.5-$5.5M range.

→ 5 E. 16th St., Unit 7 (Flatiron) • 3BR/2.5BA, 4100 SF condo • Closing ask: $5.25M • Days on market: 177 • Common charges: $2192; taxes: $3060 • Broker: Linette Simeno, Compass.

→ 6 W. 20th St., 5th Fl. (Flatiron, above) • 5BR/2BA, 4100 SF co-op • Closing ask: $5.495M • Days on market: 166 • Maintenance: $6500 • Broker: Mark Thomas Amadei, Sotheby’s.

→ 142 Fifth Ave., 9A (Flatiron) • 5BR/3.5BA, 2700 SF co-op • Closing ask: $3.5M • Days on market: 106 • Maintenance: $6479 • Broker: Gino Filippone, Corcoran.

→ 36 E. 22nd St., 4A (Flatiron) • 3BR/3BA, 2168 SF condo • Closing ask: $3.495M • Days on market: 146 • Common charges: $2204; taxes: $2570 • Broker: Maggie Marshall, Elliman.