<p>Beautiful landmark building with on site management, business service center, and 24 hour security. Near all subway lines. Right off Madison Square Park in the vibrant NoMad District. Not only are household names such as Vera Wang, Tiffany&#8217;s and Grey Group relocating here, but the increasing number of startups in the neighborhood are making NoMad the city&#8217;s tech and creative center. Almost every day new trendy shops, world-class hotels, superior restaurants, nightspots and high-end residential buildings are opening, contributing to NoMad&#8217;s reputation as the city&#8217;s most balanced multiuse, 24/7 neighborhood.</p>


ny-new-york-1123-broadway

Beautiful corner space with 12 ft. ceilings and oversized windows offering unobstructed views of Madison Square Park, Broadway, and 25th Street.
Gilded Age building with attended lobby and new elevators.
Building has a complete business center with document, mail receiving, and messenger services.
Conference rooms are available for rental by the hour.
Across from Madison Square Park in the heart of NoMad, New York’s hottest neighborhood, bordering Flatiron, Gramercy, and Chelsea
Near the Broadway, Sixth, Lexington, and Seventh Avenue subway lines.
Exciting area filled with world-class restaurants, hotels, specialty shops, and nightspots.

Lovely built-out office space with multiple windowed rooms, providing flexibility for different uses as well as safe distancing options.
4 rooms:
One extra-large (for open space, bullpen, multi-station team, or large conference area)
One large (for conference room or office)
Two smaller (for individual office, library, or pantry)
Best of both worlds: brand new hardwood floors alongside original 19th century mosaic tile entryway

Lovely small office with 12 ft. ceilings, two oversized, south-facing windows, hardwood floors, and original molding.
Attended lobby building with classic Gilded Age architectural details and recently updated elevators.
Complete business center with document, mail receiving, and messenger services on site.
Conference rooms are available for rental by the hour.
Just off of Madison Square Park in the heart of NoMad, New York’s hottest neighborhood, bordering Flatiron, Gramercy, and Chelsea.

Two offices with partial glass build out along the north wall, open area, and wet pantry

Private office space currently built-out with conference area and multiple separate seating areas (perfect for social distancing!), featuring six windows and three sides of exposure, 11 ft. ceilings, and ample storage space.
Landmark building with original Gilded Age architectural details, attended lobby, recently renovated elevators, and on-site management.
Tenants have access to complete business center with document, messenger, and mail receiving services.
Conference rooms are available for rental by the hour.
Just off of vibrant Madison Square Park, in the heart of NoMad, near Flatiron and Chelsea, surrounded by excellent dining, shopping, and nightlife.
Central location for all commutes: within blocks of nearly all major subway lines, surrounded by multiple Citibike stations, and easily accesible from Penn and Grand Central Station, as well as the Lincoln and Midtown Tunnels.

Beautiful, bright office with two oversized south-facing windows, 11 ft. ceilings, hardwood floors, and original molding throughout, offering extra warmth and character.
Located in the historic Townsend Building, an architectural gem with an attended lobby and on-site property management.
Building has a complete Business Center with document, mail receiving, and messenger services.
Conference rooms are available for rental by the hour.
Right off Madison Square Park in prime NoMad, New York’s hottest area, bordering Flatiron, Gramercy, and Chelsea, within minutes from nearly every major subway line, Penn Station, and PATH trains.

Ideal starter office with sunny southern exposure, 11 ft ceilings, hardwood floors, and original molding throughout.
Tenants appreciate that Kew provides the flexibility to upsize within our buildings to our numerous different size points. Tenants can focus on growing their business without interruption and remaining in this exciting community.
Beautiful landmark building with attended lobby and on-site management.
Building has a complete Business Center with printing, mail receiving, and messenger services.
Conference rooms are available for rental by the hour.
Right off Madison Square Park in the heart of NoMad, New York’s hottest area, bordering Flatiron, Gramercy, and Chelsea.

One-of-a-kind, sun-drenched space with 4 sides of oversized windows offering gorgeous views of Madison Square Park, Worth Square, and the Park Avenue South skyline.

Features ample open space plus 4 sizable offices/conference rooms, full kitchen pantry with dishwasher, central air, and original mosaic tile detail from the 1890s.

Landmark building with original Gilded Age details, attended lobby, and on-site management.

Building offers a business center with document, package, and messenger services, as well as small and large conference rooms for rent by the hour.

In prime NoMad, just off Madison Square Park, with top restaurants, hotels, and shopping, and walking distance from nearly every major subway line.

A rare find — small space with wet pantry en suite!
Features 12 ft ceilings, oak hardwood floors, and two oversized courtyard-facing windows.
Building has complete Business Center with document, mail receiving, and messenger services, plus additional conference rooms available for rental by the hour.
Historic architectural gem with attended lobby, recently installed new elevators, and onsite management.
Just off of Madison Square Park in the heart of NoMad, New York’s hottest area, bordering Flatiron, Gramercy, and Chelsea.
Perfect central location for all commutes: near the Broadway, Sixth, Seventh, and Lexington Avenue subway lines; within walking distance of Penn and Grand Central Station; close to the Lincoln and Midtown Tunnels; and surrounded by multiple Citibike stations.

Private two-office suite with foyer, featuring oversized windows letting in southern light, original molding, high ceilings, and hardwood floors.
Gilded Age building with attended lobby and recently installed new elevators.
Building has a complete business center with document, mail receiving, and messenger services.
Conference rooms are available for rental by the hour.
Across from Madison Square Park in the heart of NoMad, New York’s hottest neighborhood, bordering Flatiron, Gramercy, and Chelsea
Near the Broadway, Sixth, Lexington, and Seventh Avenue subway lines.
Exciting area filled with world-class restaurants, hotels, specialty shops, and nightspots.

Loft-style space in the historic Townsend Building with large open area, plus conference room and two offices.
Features beautiful original 19th century mosaic tile alongside hardwood floors, as well as 11 ft. ceilings, eight large windows, and is ready for a wet pantry en suite.
Landmark Beaux Arts building with attended lobby located just off of Madison Square Park.
Full business center on-site with mail receiving, messenger, document, and conference room rental services.
In the popular and central NoMad District, at the crossroads of Flatiron, Chelsea, and Gramercy, with easy access to nearly every major subway line, as well as the PATH and Penn Station.

New York

Flatiron District

<p>The Flatiron District is named after the Flatiron Building, an iconic triangular building that is one of the oldest original skyscrapers <a href="https://www.squarefoot.com/ny/new-york/office-space">in New York City</a>. The building was considered groundbreaking at the time of its construction in 1902, and it now symbolizes both the historical importance and innovative spirit that defines the area. Besides the Flatiron Building, other notable buildings in the district include the Met Life Tower at 1 Madison Avenue, the New York Life Building, and One Madison Park.</p>
<p>The Flatiron District is widely recognized as the center of Silicon Alley, New York’s technology hub. The district tends to attract <a href="https://www.squarefoot.com/blog/three-office-space-locations-fit-early-stage-startups/">startups</a>, publishers, fashion designers, nonprofits, consulting firms, and advertising agencies. Yelp, Tiffany &amp; Co., Betterment, Buzzfeed, Spotify, and Yext all have office space in the Flatiron District.</p>
<p><img loading="lazy" class="alignnone wp-image-9567 size-large" src="https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1024x697.jpg" alt="" width="1024" height="697" srcset="https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1024x697.jpg 1024w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-300x204.jpg 300w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-768x523.jpg 768w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1536x1046.jpg 1536w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-2048x1395.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<h2>What Our Brokers Say About Flatiron District</h2>
<p>Due to zoning laws, many of the tallest buildings are still no higher than 20 stories. Older buildings along the side streets are often only three to six stories tall. These smaller buildings mean that tenants seeking square footage of 5,000 or fewer can have the opportunity to occupy an entire floor. That level of privacy is rare for small companies based in other parts of the city. With more modest <a href="https://www.squarefoot.com/blog/open-office-floor-plans/">floor plans</a> with high ceilings, many spaces are ideal for open office concepts as well.</p>
<p>Since the formation of the <a href="http://www.flatirondistrict.nyc/" target="_blank" rel="noopener">Flatiron/23rd Street Partnership Business Improvement District</a> (BID) in 2006, over 2.2 million in funds are invested annually in the neighborhood’s sanitation, public safety, marketing, social services, and public improvements. Due to the BID’s dedication to a clean and safe area, Flatiron is increasingly attractive for families and young professionals looking for a strong sense of community. There are currently 247 new residential units, including luxury rental condominiums, planned or under construction.</p>
<p>In response to the high number of young workers, the fitness and wellness sector has rapidly taken hold of Flatiron, with 47 <a href="https://www.squarefoot.com/blog/guide-flatiron-fitness/">fitness gyms and studios available</a> within walking distance and companies like Athleta, Equinox, and Sweaty Betty renting <a href="https://www.squarefoot.com/ny/new-york/office-space">office space</a>.</p>
<p>Those looking for calmer exercise options can explore Madison Square Park. Fully restored in 2001, the park is just north of the building the neighborhood is named for. More than 50,000 people visit daily, and it’s the perfect spot for both locals and tourists to eat lunch, enjoy a cup of coffee, or people watch.</p>
<p>As much as fitness is a part of the Flatiron culture, so is food. Host business meetings at Eleven Madison Park, Craft, Gramercy Tavern, and Cosme, or take a more casual outing to Shake Shack, Tappo Thin Crust, Live Bait, and Eisenberg Sandwich Shop. Flatiron is also home to Eataly, a 58,000 square foot Italian marketplace with seven unique restaurants that opened in 2010. During the summer, workers can choose from dozens of food trucks at Madison Square Eats. For a more complete list of things to do in the Flatiron District, check out our <a href="https://www.squarefoot.com/blog/best-flatiron-district/">Best of Flatiron</a> neighborhood guide.</p>
<h2>Flatiron District commercial space for lease | By the numbers</h2>
<table border="1">
<tbody>
<tr>
<td>Office Space for Lease</td>
<td>Price per square foot</td>
<td>Vacancy</td>
<td>Inventory</td>
</tr>
<tr>
<td>Class A</td>
<td>$88</td>
<td>2%</td>
<td>13 msf</td>
</tr>
<tr>
<td>Class B</td>
<td>$68</td>
<td>5%</td>
<td>9 msf</td>
</tr>
</tbody>
</table>
<h2>Flatiron District Office Space | Lease Data &amp; Trends</h2>
<p>The Flatiron District, which lies between <a href="https://www.squarefoot.com/ny/new-york/union-square/office-space">Union Square</a> and Madison Square Park, boasts more than 31 million square feet of commercial real estate inventory. However, the district generally has low availability. Demand for Flatiron office space remains high, in part because the district rests at the heart of NYC’s startup scene.</p>
<p>The Flatiron District is part of the Midtown South office market. <a href="https://www.squarefoot.com/ny/new-york/midtown-south/office-space">Midtown South</a> currently has a vacancy rate of just 4.9 percent, which decreased 30 basis points during Q2 of 2019. The new leasing rate for Midtown South increased by almost 50 percent to 1.7 msf. The new leasing rate for Class A office space in Midtown South increased to an even more impressive degree. By the end of Q2 it had reached the second-highest quarterly amount that has been recorded so far.</p>
<p>On average, office space in Midtown South costs just under $95.75 per square foot. Class A office space in Midtown South averages just under $108.50 per square foot to lease. Rental rates vary by building class, lease length, building amenities, and much more. To better understand the nuances of the <a href="https://www.squarefoot.com/leasopedia/different-types-of-commercial-leases/">commercial real estate leasing process</a>, review our <a href="https://www.squarefoot.com/leasopedia">Leasopedia</a> resources.</p>
<p>For budget-tight businesses seeking to set up shop in the heart of Silicon Alley, the office sublease market presents numerous enticing options for <a href="https://www.squarefoot.com/blog/why-we-launched-flex-by-squarefoot/">flexible, affordable office space</a>. Office subleases in Flatiron can be signed in the $50-$60 per square foot range, especially in Class B or Class C buildings on numbered streets. Note that avenue addresses tend to have higher asking rents.</p>
<p>In Q2 of 2019, <a href="https://commercialobserver.com/2019/05/wework-lease-620-avenue-of-the-americas-rxr-realty/" target="_blank" rel="noopener">WeWork</a> took more than 200,000 square feet more space in the district just a block from its headquarters. In addition, Flatiron Health expanded its commercial footprint by 122,056 square feet at 233 Spring Street. Yext now subleases 142,500 square feet from Aetna at 61 Ninth Avenue.</p>
<h2>Getting around: Transportation in Flatiron District</h2>
<p>Pedestrians outnumber vehicles 18:1 in Flatiron, so it’s no surprise that Flatiron has a walk score of 100 and is considered the 6th most walkable neighborhood in <a href="https://www.squarefoot.com/ny/new-york/manhattan/office-space/">Manhattan</a>. Foot traffic can be heavy during the day and at lunch time but lightens up in the evening. Bikers have access to 13 bike share stations and approximately 500 docking spaces within the district.</p>
<p>Flatiron’s transit score is also 100%. In addition to 24 bus lines that pass through Flatiron, commuters can take the F, M, N, R or 6 trains. Many choose to make slightly longer walks from express stops at <a href="https://www.squarefoot.com/ny/new-york/grand-central-station/office-space">Grand Central Station</a>, Penn Station, Herald Square, or Union Square, which provide additional access to the 4, 5, A, C, E, B, D, N, Q, and L trains, as well as Amtrak and Metro North. <a href="https://www.compass.com/neighborhood-guides/nyc/flatiron/" target="_blank" rel="noopener">Commuters</a> can get from the Flatiron District to Columbus Circle in 24 minutes by train or 16 minutes by car; to Grand Center in 16 minutes by train or 10 minutes by car; or to Wall Street in 22 minutes by train or 15 minutes by car.</p>
<p>The Flatiron District stretches from 14th Street to 23rd Street north to south and from Park Avenue to Sixth Avenue east to west. Flatiron is bordered by <a href="https://www.squarefoot.com/ny/new-york/greenwich-village/office-space">Greenwich Village</a> to the south, <a href="https://www.squarefoot.com/ny/new-york/chelsea/office-space">Chelsea</a> to the west, <a href="https://www.squarefoot.com/ny/new-york/nomad/office-space">NoMad</a> to the north, and <a href="https://www.squarefoot.com/ny/new-york/gramercy-park/office-space">Gramercy Park</a> to the east.</p>
<h2>Top commercial real estate listings in Flatiron District</h2>
<p>Ready to look for office space in one of the most sought-after districts in New York City? Contact one of our experienced <a href="https://www.squarefoot.com/contact-us/">brokers</a>, who will help you find office space in Flatiron District to meet and exceed your requirements. Also, look up these three SquareFoot-recommended properties in the district:</p>
<p><a href="https://www.squarefoot.com/ny/new-york/20-west-22nd-street">20 West 22nd Street</a>: 20 West 22nd Street is an office building located in the Flatiron District between 5th and 6th Avenue. It features a new lobby, new elevators, and new windows. The building tends to attract media, marketing, tech, and post-production company tenants. Current tenants include Spruce Technology, WTHN, and EQS Group. 20 West 22nd Street is 17 stories high and has 175,270 square feet. Seven units are available for rent; they range from 800 to 3,797 square feet in size. <a href="https://www.squarefoot.com/ny/new-york/20-west-22nd-street">Contact us</a> for pricing and other information. Get here using trains F, M, N, R, W, 1, or 6. Several parking garages are available nearby for those who want to drive to work. 20 West 22nd Street is close to an unusually high number of fitness centers. At least 13 are less than .5 mile away from the office. Among the closest are Uplift Studio, Flywheel Sports, Monster Cycle Limelight, and Studio Anya.</p>
<p><a href="https://www.squarefoot.com/ny/new-york/19-w-21st-street">19 West 21st Street:</a> Built in 1908, 19 West 21st Street is a 12-story office building located between 5th and 6th Avenues in the Flatiron District. It is sometimes called the Spero Building. The office building has 113,284 square feet of space. Right now, nine units ranging from 531 to 3,415 square feet in size are available to rent at 19 West 21st Street. <a href="https://www.squarefoot.com/ny/new-york/19-w-21st-street">Contact us</a> to learn more about pricing or to schedule a tour of the property. Current tenants of the Spero Building include Cooking Vinyl, Perennial Painting &amp; Cleaning, Lifetime Brands, The Research Partnership, and Obsidian Systems. Reach this property using trains F, M, H, Q, R, W, 1, 2, 3, 4, 5, or 6. Several parking structures are available nearby, too. Some of the closest restaurants to the Sparo Building are Aleo, Sushiritto, Le Pain Quotidien, Outback Steakhouse, and Burger &amp; Lobster.</p>
<p><a href="https://www.squarefoot.com/ny/new-york/156-5th-avenue">156 5th Avenue:</a> 156 5th Avenue, an office building first constructed around 1900, has 13 stories and 184,509 square feet. Sometimes, it is called the Presbyterian Building. The Presbyterian Building rests at the corner of 5th Avenue and 20th Street. It is a Class B building with a large number of units available for rent. Choose among 30 open units ranging from 350 to 60,000 square feet in size. <a href="https://www.squarefoot.com/ny/new-york/156-5th-avenue">Contact us</a> for pricing details or a tour. Earthbound, Mishcon De Reya, Kohler, and Charlotte Olympia already lease space at 156 5th Avenue. The area has a walk score of 100 and has great public transportation. Subway stations 23rd Street, 14th Street, and 28th Street are all within walking distance. To take a break from the office, just step outside the building and take a stroll in the Ladies Miles Historic District or around the Theodore Roosevelt Birthplace National Historic Site.</p>
<h2>Flatiron District history</h2>
<p>After evolving from the commercial “Toy District” to a more residential neighborhood, Flatiron was briefly referred to as the “Photo District” from the 1960s-1980s. Expansive lofts with plenty of <a href="https://www.squarefoot.com/blog/health-effects-natural-lighting-office/">natural light</a> and relatively cheap rent were ideal for photographers. The appeal of these unique loft-style buildings brought an influx of tech and media companies, once again changing the character of the neighborhood.</p>
<p>In 1966, the Flatiron Building became a New York City landmark, and in 1979, it joined the National Registry of Historic Places. In the mid-1980s, the district was named after the building. Today, the Flatiron Building is an office building that contains the headquarters for publishing companies Picador and St. Martin’s Press and that serves as a popular tourist destination.</p>
<p>In 1847, Madison Square Park officially opened. Soon after, Amos Eno built the Fifth Avenue Hotel. Others told him he had chosen a bad location because it was far away from the area’s hotel district. However, he proceeded with his plan. One of the unique features of the hotel was its incorporation of elevators, which were a relatively new concept at the time. At one point the Prince of Wales even stayed at the hotel.</p>
<p>Around the 1990s, the Flatiron District gained a reputation for its impressive commercial real estate.</p>
<div><img loading="lazy" src="https://www.squarefoot.com/wp-content/uploads/2017/07/800px-Flatiron_District_td_25_-_St._James_Building-e1564408472167.jpg" alt="Street-level view of St. James Building at 1133 Broadway" width="375" height="281" /><img loading="lazy" src="https://www.squarefoot.com/wp-content/uploads/2017/07/flatiron-2191736_1920-e1564408459822.jpg" alt="Low-angle shot of Flatiron building at Broadway and 5th Ave" width="375" height="211" /><img loading="lazy" src="https://www.squarefoot.com/wp-content/uploads/2017/07/800px-Flatiron_District-e1564408448877.jpg" alt="Bird's-eye view of Flatiron district" width="375" height="246" /></div>


Flatiron District Office Space for Rent

<p>The Flatiron District is named after the Flatiron Building, an iconic triangular building that is one of the oldest original skyscrapers <a href="https://www.squarefoot.com/ny/new-york/office-space">in New York City</a>. The building was considered groundbreaking at the time of its construction in 1902, and it now symbolizes both the historical importance and innovative spirit that defines the area. Besides the Flatiron Building, other notable buildings in the district include the Met Life Tower at 1 Madison Avenue, the New York Life Building, and One Madison Park.</p>
<p>The Flatiron District is widely recognized as the center of Silicon Alley, New York’s technology hub. The district tends to attract <a href="https://www.squarefoot.com/blog/three-office-space-locations-fit-early-stage-startups/">startups</a>, publishers, fashion designers, nonprofits, consulting firms, and advertising agencies. Yelp, Tiffany &amp; Co., Betterment, Buzzfeed, Spotify, and Yext all have office space in the Flatiron District.</p>
<p><img sizes="(max-width: 1024px) 100vw, 1024px" srcset="https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1024x697.jpg 1024w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-300x204.jpg 300w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-768x523.jpg 768w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1536x1046.jpg 1536w, https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-2048x1395.jpg 2048w" height="697" width="1024" alt="" src="https://www.squarefoot.com/wp-content/uploads/2020/07/Manhattan-NYC-Market-Report-Price-Per-Square-Foot-1024x697.jpg" class="alignnone wp-image-9567 size-large" loading="lazy"></p>
<h2>What Our Brokers Say About Flatiron District</h2>
<p>Due to zoning laws, many of the tallest buildings are still no higher than 20 stories. Older buildings along the side streets are often only three to six stories tall. These smaller buildings mean that tenants seeking square footage of 5,000 or fewer can have the opportunity to occupy an entire floor. That level of privacy is rare for small companies based in other parts of the city. With more modest <a href="https://www.squarefoot.com/blog/open-office-floor-plans/">floor plans</a> with high ceilings, many spaces are ideal for open office concepts as well.</p>
<p>Since the formation of the <a rel="noopener" href="http://www.flatirondistrict.nyc/">Flatiron/23rd Street Partnership Business Improvement District</a> (BID) in 2006, over 2.2 million in funds are invested annually in the neighborhood’s sanitation, public safety, marketing, social services, and public improvements. Due to the BID’s dedication to a clean and safe area, Flatiron is increasingly attractive for families and young professionals looking for a strong sense of community. There are currently 247 new residential units, including luxury rental condominiums, planned or under construction.</p>
<p>In response to the high number of young workers, the fitness and wellness sector has rapidly taken hold of Flatiron, with 47 <a href="https://www.squarefoot.com/blog/guide-flatiron-fitness/">fitness gyms and studios available</a> within walking distance and companies like Athleta, Equinox, and Sweaty Betty renting <a href="https://www.squarefoot.com/ny/new-york/office-space">office space</a>.</p>
<p>Those looking for calmer exercise options can explore Madison Square Park. Fully restored in 2001, the park is just north of the building the neighborhood is named for. More than 50,000 people visit daily, and it’s the perfect spot for both locals and tourists to eat lunch, enjoy a cup of coffee, or people watch.</p>
<p>As much as fitness is a part of the Flatiron culture, so is food. Host business meetings at Eleven Madison Park, Craft, Gramercy Tavern, and Cosme, or take a more casual outing to Shake Shack, Tappo Thin Crust, Live Bait, and Eisenberg Sandwich Shop. Flatiron is also home to Eataly, a 58,000 square foot Italian marketplace with seven unique restaurants that opened in 2010. During the summer, workers can choose from dozens of food trucks at Madison Square Eats. For a more complete list of things to do in the Flatiron District, check out our <a href="https://www.squarefoot.com/blog/best-flatiron-district/">Best of Flatiron</a> neighborhood guide.</p>
<h2>Flatiron District commercial space for lease | By the numbers</h2>
<table border="1">
<tbody>
<tr>
<td>Office Space for Lease</td>
<td>Price per square foot</td>
<td>Vacancy</td>
<td>Inventory</td>
</tr>
<tr>
<td>Class A</td>
<td>$88</td>
<td>2%</td>
<td>13 msf</td>
</tr>
<tr>
<td>Class B</td>
<td>$68</td>
<td>5%</td>
<td>9 msf</td>
</tr>
</tbody>
</table>
<h2>Flatiron District Office Space | Lease Data &amp; Trends</h2>
<p>The Flatiron District, which lies between <a href="https://www.squarefoot.com/ny/new-york/union-square/office-space">Union Square</a> and Madison Square Park, boasts more than 31 million square feet of commercial real estate inventory. However, the district generally has low availability. Demand for Flatiron office space remains high, in part because the district rests at the heart of NYC’s startup scene.</p>
<p>The Flatiron District is part of the Midtown South office market. <a href="https://www.squarefoot.com/ny/new-york/midtown-south/office-space">Midtown South</a> currently has a vacancy rate of just 4.9 percent, which decreased 30 basis points during Q2 of 2019. The new leasing rate for Midtown South increased by almost 50 percent to 1.7 msf. The new leasing rate for Class A office space in Midtown South increased to an even more impressive degree. By the end of Q2 it had reached the second-highest quarterly amount that has been recorded so far.</p>
<p>On average, office space in Midtown South costs just under $95.75 per square foot. Class A office space in Midtown South averages just under $108.50 per square foot to lease. Rental rates vary by building class, lease length, building amenities, and much more. To better understand the nuances of the <a href="https://www.squarefoot.com/leasopedia/different-types-of-commercial-leases/">commercial real estate leasing process</a>, review our <a href="https://www.squarefoot.com/leasopedia">Leasopedia</a> resources.</p>
<p>For budget-tight businesses seeking to set up shop in the heart of Silicon Alley, the office sublease market presents numerous enticing options for <a href="https://www.squarefoot.com/blog/why-we-launched-flex-by-squarefoot/">flexible, affordable office space</a>. Office subleases in Flatiron can be signed in the $50-$60 per square foot range, especially in Class B or Class C buildings on numbered streets. Note that avenue addresses tend to have higher asking rents.</p>
<p>In Q2 of 2019, <a rel="noopener" href="https://commercialobserver.com/2019/05/wework-lease-620-avenue-of-the-americas-rxr-realty/">WeWork</a> took more than 200,000 square feet more space in the district just a block from its headquarters. In addition, Flatiron Health expanded its commercial footprint by 122,056 square feet at 233 Spring Street. Yext now subleases 142,500 square feet from Aetna at 61 Ninth Avenue.</p>
<h2>Getting around: Transportation in Flatiron District</h2>
<p>Pedestrians outnumber vehicles 18:1 in Flatiron, so it’s no surprise that Flatiron has a walk score of 100 and is considered the 6th most walkable neighborhood in <a href="https://www.squarefoot.com/ny/new-york/manhattan/office-space/">Manhattan</a>. Foot traffic can be heavy during the day and at lunch time but lightens up in the evening. Bikers have access to 13 bike share stations and approximately 500 docking spaces within the district.</p>
<p>Flatiron’s transit score is also 100%. In addition to 24 bus lines that pass through Flatiron, commuters can take the F, M, N, R or 6 trains. Many choose to make slightly longer walks from express stops at <a href="https://www.squarefoot.com/ny/new-york/grand-central-station/office-space">Grand Central Station</a>, Penn Station, Herald Square, or Union Square, which provide additional access to the 4, 5, A, C, E, B, D, N, Q, and L trains, as well as Amtrak and Metro North. <a rel="noopener" href="https://www.compass.com/neighborhood-guides/nyc/flatiron/">Commuters</a> can get from the Flatiron District to Columbus Circle in 24 minutes by train or 16 minutes by car; to Grand Center in 16 minutes by train or 10 minutes by car; or to Wall Street in 22 minutes by train or 15 minutes by car.</p>
<p>The Flatiron District stretches from 14th Street to 23rd Street north to south and from Park Avenue to Sixth Avenue east to west. Flatiron is bordered by <a href="https://www.squarefoot.com/ny/new-york/greenwich-village/office-space">Greenwich Village</a> to the south, <a href="https://www.squarefoot.com/ny/new-york/chelsea/office-space">Chelsea</a> to the west, <a href="https://www.squarefoot.com/ny/new-york/nomad/office-space">NoMad</a> to the north, and <a href="https://www.squarefoot.com/ny/new-york/gramercy-park/office-space">Gramercy Park</a> to the east.</p>
<h2>Top commercial real estate listings in Flatiron District</h2>
<p>Ready to look for office space in one of the most sought-after districts in New York City? Contact one of our experienced <a href="https://www.squarefoot.com/contact-us/">brokers</a>, who will help you find office space in Flatiron District to meet and exceed your requirements. Also, look up these three SquareFoot-recommended properties in the district:</p>
<p><a href="https://www.squarefoot.com/ny/new-york/20-west-22nd-street">20 West 22nd Street</a>: 20 West 22nd Street is an office building located in the Flatiron District between 5th and 6th Avenue. It features a new lobby, new elevators, and new windows. The building tends to attract media, marketing, tech, and post-production company tenants. Current tenants include Spruce Technology, WTHN, and EQS Group. 20 West 22nd Street is 17 stories high and has 175,270 square feet. Seven units are available for rent; they range from 800 to 3,797 square feet in size. <a href="https://www.squarefoot.com/ny/new-york/20-west-22nd-street">Contact us</a> for pricing and other information. Get here using trains F, M, N, R, W, 1, or 6. Several parking garages are available nearby for those who want to drive to work. 20 West 22nd Street is close to an unusually high number of fitness centers. At least 13 are less than .5 mile away from the office. Among the closest are Uplift Studio, Flywheel Sports, Monster Cycle Limelight, and Studio Anya.</p>
<p><a href="https://www.squarefoot.com/ny/new-york/19-w-21st-street">19 West 21st Street:</a> Built in 1908, 19 West 21st Street is a 12-story office building located between 5th and 6th Avenues in the Flatiron District. It is sometimes called the Spero Building. The office building has 113,284 square feet of space. Right now, nine units ranging from 531 to 3,415 square feet in size are available to rent at 19 West 21st Street. <a href="https://www.squarefoot.com/ny/new-york/19-w-21st-street">Contact us</a> to learn more about pricing or to schedule a tour of the property. Current tenants of the Spero Building include Cooking Vinyl, Perennial Painting &amp; Cleaning, Lifetime Brands, The Research Partnership, and Obsidian Systems. Reach this property using trains F, M, H, Q, R, W, 1, 2, 3, 4, 5, or 6. Several parking structures are available nearby, too. Some of the closest restaurants to the Sparo Building are Aleo, Sushiritto, Le Pain Quotidien, Outback Steakhouse, and Burger &amp; Lobster.</p>
<p><a href="https://www.squarefoot.com/ny/new-york/156-5th-avenue">156 5th Avenue:</a> 156 5th Avenue, an office building first constructed around 1900, has 13 stories and 184,509 square feet. Sometimes, it is called the Presbyterian Building. The Presbyterian Building rests at the corner of 5th Avenue and 20th Street. It is a Class B building with a large number of units available for rent. Choose among 30 open units ranging from 350 to 60,000 square feet in size. <a href="https://www.squarefoot.com/ny/new-york/156-5th-avenue">Contact us</a> for pricing details or a tour. Earthbound, Mishcon De Reya, Kohler, and Charlotte Olympia already lease space at 156 5th Avenue. The area has a walk score of 100 and has great public transportation. Subway stations 23rd Street, 14th Street, and 28th Street are all within walking distance. To take a break from the office, just step outside the building and take a stroll in the Ladies Miles Historic District or around the Theodore Roosevelt Birthplace National Historic Site.</p>
<h2>Flatiron District history</h2>
<p>After evolving from the commercial “Toy District” to a more residential neighborhood, Flatiron was briefly referred to as the “Photo District” from the 1960s-1980s. Expansive lofts with plenty of <a href="https://www.squarefoot.com/blog/health-effects-natural-lighting-office/">natural light</a> and relatively cheap rent were ideal for photographers. The appeal of these unique loft-style buildings brought an influx of tech and media companies, once again changing the character of the neighborhood.</p>
<p>In 1966, the Flatiron Building became a New York City landmark, and in 1979, it joined the National Registry of Historic Places. In the mid-1980s, the district was named after the building. Today, the Flatiron Building is an office building that contains the headquarters for publishing companies Picador and St. Martin’s Press and that serves as a popular tourist destination.</p>
<p>In 1847, Madison Square Park officially opened. Soon after, Amos Eno built the Fifth Avenue Hotel. Others told him he had chosen a bad location because it was far away from the area’s hotel district. However, he proceeded with his plan. One of the unique features of the hotel was its incorporation of elevators, which were a relatively new concept at the time. At one point the Prince of Wales even stayed at the hotel.</p>
<p>Around the 1990s, the Flatiron District gained a reputation for its impressive commercial real estate.</p>
<div><img height="281" width="375" alt="Street-level view of St. James Building at 1133 Broadway" src="https://www.squarefoot.com/wp-content/uploads/2017/07/800px-Flatiron_District_td_25_-_St._James_Building-e1564408472167.jpg" loading="lazy"><img height="211" width="375" alt="Low-angle shot of Flatiron building at Broadway and 5th Ave" src="https://www.squarefoot.com/wp-content/uploads/2017/07/flatiron-2191736_1920-e1564408459822.jpg" loading="lazy"><img height="246" width="375" alt="Bird's-eye view of Flatiron district" src="https://www.squarefoot.com/wp-content/uploads/2017/07/800px-Flatiron_District-e1564408448877.jpg" loading="lazy"></div>


Unit	Size	Seats	Price
7th Floor - Suite 716	216sqft	~ 1	~$65 psf
8th Floor - Suite 809	357sqft	~ 2	~$65 psf
3rd Floor - Suite 312	400sqft	~ 2	~$65 psf
9th Floor - Suite 914	553sqft	~ 3	~$65 psf
3rd Floor - Suite 315	560sqft	~ 3	~$65 psf
11th Floor - Suite 1106	613sqft	~ 4	$64 psf
10th Floor - Suite 1018	1,061sqft	~ 7	~$65 psf
9th Floor - Suite 918	1,070sqft	~ 7	$63 psf
Office Space	1,149sqft	~ 7	$66 psf
3rd Floor - Suite 307	1,243sqft	~ 8	$65 psf
11th Floor - Suite 1117	1,339sqft	~ 8	~$65 psf
11th Floor - Suite 1100	1,341sqft	~ 8	~$65 psf
5th Floor - Suite 510	1,730sqft	~ 11	$66 psf
3rd Floor - Suite 307	1,859sqft	~ 12	~$65 psf
7th Floor - Suite 718	1,950sqft	~ 13	~$65 psf
8th Floor - Suite 805	2,303sqft	~ 15	$69 psf
2nd Floor - Suite 201	2,377sqft	~ 15	~$65 psf
6th Floor - Suite 600	4,950sqft	~ 33	$68 psf

1123 Broadway, Office Space

The Townsend Building

New York, NY 10010

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