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917.239.1124
917.239.1124

Flatiron, NY

Average Home Prices
$399,000LOWEST
$1,268,514AVERAGE
$30 MillionHIGHEST
Average Home Prices per Square Feet
$1,000/sq. ft.LOWEST
$1,700/sq. ft. AVERAGE
$4,800/sq. ft. HIGHEST
Average Home Statistics
2 No. of Beds
2BA No. of Baths
1,500 Square Feet
2005 Year Built
flatiron district in new york

What the Flatiron District is known for

The neighborhood is best known for the historic Flatiron Building, one of the most photographed buildings in NYC. Formerly called the Fuller Building, the steel-framed, triangular-shaped building has appeared in many postcards and souvenirs.

It is also the site of the Ladies’ Mile Historic District, NYC’s most popular shopping district for high-end fashion and the carriage trade in the 1860s up until World War I. The area spanned 28 blocks lined with department stores and other retailers. It was declared an official historic district in 1989.

Area highlights (size, population, location)

Flatiron is located in the center of Manhattan right on the southern border of Midtown. It is part of Manhattan Community District 5 (Midtown) along with Herald Square, Midtown, Midtown South, Times Square, and Union Square.

The neighborhood is bordered by Madison Square Park to the north, Park Avenue to the east, Sixth Avenue to the west, and Union Square to the south. It runs north to south from 20th to 26th streets, and east to west from 6th to Lexington avenues.

According to 2015 data from Flatiron 23rd Street Partnership, the neighborhood has an estimated population of 253,305. Those figures were projected to increase to 263,379 by 2020.

Proximity and accessibility

The Flatiron District is served by subways R, W, and 6. Subway lines with part-time or full-time stops along the neighborhood include the 6, F, L, M, N, Q, R, and W. It is also accessible via Grand Central Station and Penn Station.

The nearest major airports include:

  • LaGuardia Airport (LGA / KLGA)
  • Newark Liberty International Airport (EWR / KEWR)
  • John F. Kennedy International Airport (JFK / KJFK)
  • Teterboro Airport (TEB / KTEB)

Nearby landmarks include:

  • Rockefeller Center
  • Wall Street
buildings at flatiron district new york

History

The Flatiron District grew around the building for which it’s named. In the mid-20th century, affordable housing in the area attracted artists who brought publishers and art dealers with them. The neighborhood was known as the Toy District and later, as the Photo District, due to the high concentration of toy manufacturers and photo studios in the area.

Its traditional boundaries ran from 14th to 23rd streets, Sixth Avenue to Park Avenue South just above East 18th Street, and Sixth to Fifth avenues just below East 18th Street.

It was renamed the Flatiron District around 1985 as the area became primarily residential, and real estate agents started rebranding the neighborhood under a more recognizable name.

Today, it is one of the most eclectic neighborhoods in NYC, with a smattering of shops, restaurants, bars, cultural landmarks, and upscale real estate.

Flatiron, NY Real Estate

minimalist and elegant dining area

Overview of the local real estate market

The Flatiron District was a manufacturing and retail destination for much of its history and its reputation for upscale real estate is fairly recent. But developers have fully embraced this new chapter, with many of the warehouses and historic structures having been restored and repurposed for modern living in NYC.

Much of the newer developments in the area are residential condos and loft-type apartments with ground floor retail and shared offices, offering the ultimate live-work-play lifestyle.

Typical home features

The typical home in the Flatiron District has three bedrooms and two to three bathrooms. The average home has modern features like kitchen islands, recessed lighting, and oversized windows commanding views of the NYC skyline and surrounding buildings..

Homes with distinctive NYC design elements like exposed brick, subway tiles, concrete floors, and exposed beams and pipes are also available, paying homage to the District’s industrial past.

Property types

  • Condominiums – Flatiron is known for its luxury condos with newer developments on 23rd and Fifth Avenue, and several more in the pipeline. In 2015, there were over 800 residential units under construction or in planning to meet the increasing demand for real estate in the area. Flatiron condos are sought for their location, prestige, and sleek designs.
  • Apartments – Renters can choose from a wide array of studios as well as 1-, 2-, and 3-BR apartments in Flatiron. These apartments offer convenient access to the adjacent neighborhoods of Chelsea and Gramercy Park.

Living in Flatiron, NY

night view of flatiron district

Weather

The warmest months in Flatiron are June, July, and August, with July being the warmest month on average. The driest months are January, March, and September. The most pleasant months are April to June.

Cost of living

The cost of living in Flatiron is above average as it is one of NYC’s more upscale neighborhoods. Rentals range from $3,000 to $11,000 depending on location, square footage, and property features while residential condos command millions of dollars. Buyers are willing to pay a premium for this exciting neighborhood due to the lifestyle and career and business opportunities that the area has to offer.

Employment

As part of NYC’s Silicon Alley, Flatiron is a thriving tech hub, with its repurposed loft-type offices and co-working spaces attracting startups from all over the U.S. The neighborhood also has its fair share of artists, designers, and venture capitalists. Established tech companies like Mashable, Bluewolf, and Demand Media have leased offices in Flatiron at some point.

Transportation

Access to efficient public transport makes the Flatiron District easily accessible from all parts of New York City as well as New Jersey. The neighborhood is served by nine bus lines, seven subway stations, and a PATH station. Other transportation options include NYC’s iconic yellow cabs, vehicles for hire (i.e. Lyft, Uber), and bike sharing services. There are over 13 NYC Bike Share stations with about 502 docking spaces in and around Flatiron.

As of 2015, the most active Bike Share stations in the neighborhood include:

  • West 21st Street and 6th Avenue
  • Broadway and East 22nd Street
  • Broadway and West 24th Street

Education

Children of Flatiron District residents are zoned for the following schools:

  • P.S. 340 serves over 200 students in PK-2
  • P.S. 3 Charrette School lists 768 students in PK-5
  • P.S. 40 Augustus Saint-Gaudens has more than 650 students in PK-5
  • P.S. 41 Greenwich Village has close to 700 students in PK-5
  • P.S. 11 The William T. Harris School has 921 students in PK-5
  • M.S. 104 Simon Baruch has more than 1,100 students in grades 6-8

Baruch College and Touro College are located within the neighborhood’s boundaries.

daylight view of flatiron district

Dining & Restaurants

When it comes to food and dining, residents are spoilt for choice. From Michelin star restaurants to mom-and-pop eateries, the Flatiron District has it all. Choosing is the hard part.

The neighborhood’s Michelin star restaurants include Bouley at Home, which has a fantastic seven-course tasting menu, and Odo, a kaiseki restaurant.

Eataly NYC Flatiron is a culinary destination that serves Italian cuisine and promotes sustainable practices such as donating leftovers to food pantries, composting scraps, and recycling food packaging. Their food market offers a wide selection of Italian food products including coffee and mozzarella cheese.

Flatiron is also home to an array of bakeries, coffee shops, brunch spots, and casual dining restaurants serving French, Mexican, Japanese, and New American fare.

Entertainment & Nightlife

Flatiron District residents know how to have a good time. Here you’ll find an array of nightclubs, dive bars, comedy bars, cocktail lounges, and concert venues. Some of the hottest bars include The Flatiron Room, which serves some of the best whiskey in town, and Society Billiards & Bar, where you and your friends can enjoy a round or two of ping-pong and darts.

Lifestyle

From family-friendly parks to a vibrant nightlife, Flatiron has plenty to offer buyers of all backgrounds. Residents have access to world-class shopping while the restaurant scene is second to none. There’s also a strong culture of wellness – a high concentration of yoga studios, gyms, and sports and athleisure retailers has earned Flatiron the nickname “Fit District”.

people walking around the area

Shopping

You’ll find over 580 ground floor retailers throughout Flatiron, particularly along Broadway, Fifth Avenue, and North of Madison Square Park (NoMad). These include best of brand retailers like Ann Taylor, Club Monaco, Cole Haan, DECIEM, and Rituals.

Major retailers like Best Buy, Bluemercury, Petsmart, and Walgreens can be found alongside smaller, independently owned stores like Rizzoli Bookstore and Flatiron Wine & Spirits.

Parks & Recreation

Residents have access to clean and well-maintained green spaces, including:

  • Madison Square Park
  • One Madison Park
  • Flatiron Public Plazas

Arts & Culture

Museums and cultural venues in and around Flatiron District include:

  • Center for Jewish History
  • Theodore Roosevelt Birthplace National Historic Site
  • National Museum of Mathematics
  • Museum of Candy
  • Museum of Sex
  • Baruch Performing Arts Center
  • Gramercy Theatre

Attractions & Landmarks

Popular attractions and landmarks in and around Flatiron District include:

  • Flatiron Building
  • Metropolitan Life Tower
  • New York Life Insurance Company Building
  • Ladies’ Mile Historic District
  • Herman Melville House
  • Madison Square Park
  • General Worth Square
  • Eataly
  • Chester A. Arthur Monument
  • Eternal Life Flagstaff
  • William Seward Statue
  • Farragut Statue

Conclusion

Flatiron has come a long way from its origins as a toy manufacturing hub. Today, it’s an affluent and in-demand neighborhood with a thriving tech and startup scene. In terms of lifestyle, few places in NYC can compete with the nightlife and art scene. Its timeless architecture, as seen in the iconic Flatiron Building, is a testament to the neighborhood’s refinement and sophistication.

If you think this corner of NYC should be your next home, you can reach the Nassi Team here. You can also get in touch with luxury agent Danny Nassi at 917.239.1124 and DNassi(at)bhsusa(dotted)com for access to exclusive listings in and around Flatiron

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