Flatiron Building condo closings begin on 36 homes from $14.85M
Closings have begun at 175 Fifth Avenue, where Brodsky and Sorgente converted the Flatiron Building into 36 condo homes from $14.85M.
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The first buyers are taking title at the Flatiron Building, 175 Fifth Avenue (Flatiron District, Manhattan). The Brodsky Organization announced that closings have begun on the 36 condominium homes it and Sorgente Group carved out of the 1902 office tower, and residents are starting to move in, per a November 2 report from 6sqft.
Why it matters
Office-to-residential conversions are usually pitched at the middle of the market. This one is at the top. The remaining three- and four-bedroom homes start at $14.85M, and a newly available full-floor residence on the 20th floor is listed at $53.5M. Corcoran Sunshine Marketing Group handles exclusive sales and marketing.
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For brokers, the closings turn a launch story into a recorded-price story. Once deeds hit the City Register, comparable-sale data for ultra-luxury Manhattan condos gets a new anchor in Flatiron, a submarket with little prior supply at this price point.
For developers, the building shows what a landmark shell can support when the amenity package is the product: a double-height attended lobby, a 60-foot lap pool, fitness center, sauna and cold plunge, a golf simulator, lounges overlooking Madison Square Park, and private storage and wine cellars sold separately. A restaurant, Bar Pisellino, is planned for the base in 2027.
The numbers
- 36 condominium homes converted from offices.
- Entry price for remaining three- and four-bedroom homes: $14.85M.
- Full-floor 20th-floor home: $53.5M ask.
- Acquisition basis: GFP Real Estate’s Jeff Gural bought the building at a 2021 auction for $165.1M, per 6sqft.
Daniel Brodsky, managing principal of the Brodsky Organization, called welcoming the first residents “an extraordinary moment.”
We checked for recorded condo unit deeds at the address on the City Register. The live ACRIS search was unreachable from our desk this morning, so we are not publishing any recorded sale price or closing date. Figures above are the sponsor’s announced listings as reported by 6sqft, not recorded transactions.
What’s next
Closings will roll across the 36 homes over the coming months. Watch ACRIS for the first condo unit deeds and the recorded prices, which will show how far closed trades sit from the $14.85M entry ask. Other office owners weighing conversion can compare this result with the broader New York market, tracked at /markets/new-york/.
Quick answers
- What is the latest on Sorgente Group in New York?
- Closings have begun at 175 Fifth Avenue, where Brodsky and Sorgente converted the Flatiron Building into 36 condo homes from $14.85M.
- What are the key numbers for Sorgente Group?
- condo homes: 36; entry price: $14.85M; 20th-floor listing: $53.5M.
- Where does the information on Sorgente Group come from?
- The story cites 6sqft.