Brodsky, GFP, Sorgente plan 39 condo units in Flatiron Building

The Brodsky Organization, GFP Real Estate and the Sorgente Group, plan to convert the Flatiron Building at 175 Fifth Avenue into 39 condominium units with retail on the ground floor, with the plans disclosed in documents filed with the city’s Department of City Planning, under application 2024M0252.

The Commercial Observer first reported on the conversion plans filed with the city, and at the time the submission, the Environmental Assessment Statement dated August 22, said “up to 60 units.” A document filed on August 29, specified it would be just 39 units. SLCE Architects created the floor plans and other architectural analysis.

The developers filed the Environmental Assessment Statement on August 26, and on September 3 filed the Land Use Application with updated information.

There will be two units on each of the floors two through 20, and a penthouse occupying the entire 22nd floor. The 21st floor will be for storage. The filing does not specifically state it will develop condominiums, but a February 2024 letter from a contractor included in the EAS filing describes the conversion to “luxury condominiums.”

According to the August 29 project description, “Floors two through 22 would contain a total of 39 dwelling units, with two units per floor on the second through 21st floor, and one unit on the smaller penthouse/22nd floor level. Due to the Flatiron Building’s unique floor plates, which taper to a compressed point on the northernmost end, along with shaft locations for elevators, required egress stairs, and new mechanical equipment, as well as the existing window configurations that are recognized as part of the Building’s landmark status, configuring more than two dwelling units per floor would be challenging.
“[It] is not feasible to provide the rooftop open space, as required by ZR Section 15-12. Residential recreation space totaling approximately 8,300 sf would be provided in the mezzanine and cellar levels of the building. This recreation space would include a gym, pool, lounges, library, and multimedia recreation room.”

According to the EAS, “The Proposed Project would not involve the demolition, addition, or expansion of the existing building. Rather, the Proposed Project entails the
interior renovation with very limited exterior work, which includes new windows, ground-floor doors, and mechanical equipment. Construction would begin in early-2025 and is anticipated to occur over a period of 18 months with occupancy expected to occur in late-2026; therefore, construction is considered shortterm (i.e., less than two years) in accordance with the 2021 CEQR Technical Manual.”

According to the August 29 filing, “Originally the headquarters of the Fuller Construction Company, the Building was constructed in 1902-1903 on a triangular-shaped block formed by the intersection of Broadway and Fifth Avenue immediately south of Madison Square Park. One of the earliest steel-framed skyscrapers in NYC, the Beaux-Arts style Building’s shape reflects that of the block on which it as erected.

Direct link to Acris document. link