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168 5th Avenue

Flatiron District

New York, NY 10010

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Building Details

  • Walk Scoreยฎ100
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  • Sample Units

    UnitSizePriceInquire
    Small2,500 sqftInquire for pricing
    Medium5,000 sqftInquire for pricing
    Large10,000 sqftInquire for pricing
    Whole Floor20,000 sqftInquire for pricing
    • 0.03 mi๐Ÿฅ˜Sagaponack
    • 0.04 mi๐Ÿฅ˜Le Pain Quotidien
    • 0.05 miโ˜•๏ธMaison Kayser
    • 0.06 mi๐Ÿฅ˜Obica Mozzarella Bar
    • 0.07 mi๐Ÿฅ˜Sushiritto
    • 0.07 mi๐Ÿš‡RW23th Street
    • 0.08 mi๐Ÿ’ชUplift Studio
    • 0.08 mi๐Ÿฅ˜Eataly
    • 0.09 mi๐Ÿฅ˜Baita by Birreria
    • 0.09 mi๐Ÿฅ˜Aleo
    • 0.1 mi๐ŸบLa Bierria
    • 0.1 mi๐Ÿฅ˜Dig Inn Seasonal Market
    • 0.11 mi๐Ÿฅ˜Eataly
    • 0.11 miโ˜•๏ธBrooks Brothers - Red Fleece Cafe
    • 0.11 mi๐Ÿฅ˜VERTS Mediterranean Grill
    • 0.12 miโ˜•๏ธBeecher's Handmade Cheese
    • 0.13 mi๐Ÿฅ˜The Cellar
    • 0.13 mi๐Ÿ’ชFlywheel Sports
    • 0.13 mi๐ŸŒฒLadies Mile Historic District
    • 0.14 mi๐Ÿฅ˜Outback Steakhouse
    • 0.14 mi๐Ÿฅ˜Pizza Fresca
    • 0.14 mi๐ŸšŒFree maison
    • 0.15 mi๐Ÿš—Icon Parking
    • 0.15 mi๐ŸบFlatiron Lounge
    • 0.16 mi๐ŸŒฒTheodore Roosevelt Birthplace National Historic Site
    • 0.16 mi๐Ÿฅ˜Mari Vanna
    • 0.16 mi๐ŸบSlate
    • 0.17 mi๐Ÿฅ˜By Chloe
    • 0.17 mi๐Ÿฅ˜Eleven Madison Park
    • 0.17 mi๐Ÿฅ˜Junoon
    • 0.17 mi๐Ÿฅ˜Kofoo
    • 0.17 mi๐Ÿฅ˜Burger & Lobster
    • 0.18 mi๐Ÿฅ˜Olive Garden
    • 0.18 mi๐ŸบThe Storehouse
    • 0.18 mi๐Ÿฅ˜Tres Carnes
    • 0.18 mi๐Ÿ’ชMonster Cycle Limelight
    • 0.18 mi๐ŸบRooftop Bar
    • 0.19 mi๐Ÿฅ˜Chop Shop II
    • 0.19 mi๐Ÿฅ˜Tappo
    • 0.19 miโ˜•๏ธStarbucks
    • 0.19 mi๐Ÿฅ˜Grimaldi's Pizza
    • 0.19 mi๐Ÿ’ชDavid Barton Gym
    • 0.2 mi๐Ÿ’ชStudio Anya
    • 0.2 mi๐Ÿฅ˜Wagamama
    • 0.2 mi๐Ÿฅ˜Num Pang
    • 0.2 mi๐Ÿš‡FMPATH23rd Street
    • 0.2 mi๐Ÿš‡623rd Street
    • 0.21 miโ˜•๏ธHale and Hearty
    • 0.21 miโ˜•๏ธPret a Manger
    • 0.21 mi๐ŸบRye House
    • 0.22 mi๐Ÿฅ˜Hale and Hearty Soups
    • 0.22 mi๐Ÿฅ˜Laut
    • 0.22 mi๐Ÿฅ˜La Pecora Bianca
    • 0.22 mi๐Ÿฅ˜BLT Fish
    • 0.22 miโ˜•๏ธStarbucks
    • 0.22 mi๐Ÿฅ˜INDAY
    • 0.22 mi๐ŸบOld Town Bar
    • 0.23 miโ˜•๏ธFIKA 23rd Street
    • 0.23 mi๐ŸบKaraoke One 7
    • 0.23 mi๐Ÿฅ˜Chloe's Soft Serve Fruit Co.
    • 0.23 mi๐Ÿฅ˜Aldea
    • 0.23 mi๐Ÿฅ˜Big Daddy's Gramercy Park
    • 0.23 miโ˜•๏ธStarbucks
    • 0.23 miโ˜•๏ธThe Corner Cafe
    • 0.24 mi๐ŸบToshi's Penthouse
    • 0.24 mi๐ŸบToshi's Living Room
    • 0.24 mi๐Ÿฅ˜Chipotle
    • 0.24 mi๐Ÿฅ˜Chelsea Inn
    • 0.24 mi๐Ÿฅ˜Izakaya NoMad
    • 0.24 mi๐ŸบVin Sur Vingt
    • 0.24 mi๐Ÿฅ˜Rainbow Falafel & Shawarma
    • 0.24 mi๐Ÿฅ˜Maysville
    • 0.24 mi๐Ÿฅ˜Stix
    • 0.25 mi๐Ÿฅ˜Hill Country Barbecue Market
    • 0.25 miโ˜•๏ธStarbucks
    • 0.25 mi๐Ÿบ230 Fifth
    • 0.25 mi๐Ÿฅ˜Latin American Restaurant
    • 0.25 mi๐Ÿฅ˜Hanjan
    • 0.26 mi๐Ÿ’ชPopPhysique
    • 0.26 miโ˜•๏ธStarbucks
    • 0.26 mi๐Ÿฅ˜Haru
    • 0.26 mi๐ŸบFlatiron Hall
    • 0.26 mi๐Ÿฅ˜Maui Onion
    • 0.26 mi๐Ÿฅ˜The Smith
    • 0.27 mi๐ŸบHog Pit NYC
    • 0.27 mi๐ŸบGrey Bar & Restaurant
    • 0.27 mi๐ŸบThe Flatiron Room
    • 0.27 miโ˜•๏ธJoe Pro Shop & Headquarters
    • 0.27 mi๐Ÿ’ชEvolution Muay Thai
    • 0.27 mi๐Ÿฅ˜Flavabom
    • 0.27 mi๐Ÿฅ˜Essen Fast Slow Food
    • 0.27 mi๐Ÿฅ˜blue water grill
    • 0.27 mi๐Ÿฅ˜Fraiche Maxx
    • 0.27 mi๐ŸบRouge
    • 0.28 mi๐Ÿฅ˜Pondicheri
    • 0.28 mi๐Ÿฅ˜Chipotle
    • 0.28 mi๐Ÿฅ˜Chat n Chew
    • 0.28 miโ˜•๏ธDunkin' Donuts
    • 0.28 mi๐Ÿฅ˜Melt Shop
    • 0.28 mi๐Ÿ’ชPeleton
    • 0.28 mi๐Ÿฅ˜ilili
    • 0.29 miโ˜•๏ธBirch
    • 0.29 mi๐Ÿฅ˜2 Bros Pizza
    • 0.29 mi๐ŸŒฒGramercy Park Historic District
    • 0.29 mi๐Ÿฅ˜Sweetgreen
    • 0.29 mi๐Ÿ’ชYogamaya
    • 0.29 mi๐Ÿฅ˜Shorty's
    • 0.3 mi๐Ÿฅ˜Choza Tacqueria
    • 0.3 mi๐ŸบThe Nomad
    • 0.3 mi๐Ÿฅ˜DiDi Dumpling
    • 0.3 miโ˜•๏ธKoffeecake Corner
    • 0.31 mi๐Ÿฅ˜da Umberto
    • 0.31 miโ˜•๏ธIdea Coffee
    • 0.31 miโ˜•๏ธGramercy Star Cafe
    • 0.31 mi๐Ÿฅ˜The Hummus & Pita Co.
    • 0.31 miโ˜•๏ธStarbucks
    • 0.31 mi๐Ÿฅ˜Dos Caminos
    • 0.31 mi๐ŸบThe NoMad Hotel Library Bar
    • 0.31 mi๐Ÿฅ˜Hollywood Diner
    • 0.31 mi๐Ÿฅ˜Crema
    • 0.32 miโ˜•๏ธStarbucks
    • 0.32 mi๐Ÿฅ˜Mulberry & Vine
    • 0.32 mi๐Ÿฅ˜Malibu Diner
    • 0.32 miโ˜•๏ธExki
    • 0.32 mi๐Ÿฅ˜Monster Sushi
    • 0.33 mi๐Ÿš‡RW28th Street
    • 0.33 mi๐ŸบJohn Doe Bar & Kitchen
    • 0.33 mi๐Ÿฅ˜Hee Korean BBQ Grill
    • 0.33 mi๐ŸบSmithfield Hall
    • 0.33 mi๐Ÿฅ˜L & W Oyster Company
    • 0.33 miโ˜•๏ธDunkin' Donuts
    • 0.34 mi๐Ÿฅ˜Ben & Jack's Steakhouse
    • 0.34 mi๐ŸบBarcade
    • 0.35 mi๐Ÿฅ˜Pierre Loti
    • 0.35 mi๐Ÿฅ˜Waldy's Woodfire Pizza & Penne
    • 0.35 mi๐Ÿฅ˜Bao Bao Cafe
    • 0.35 mi๐Ÿฅ˜Il Bastardo
    • 0.35 mi๐Ÿฅ˜Balloon
    • 0.35 miโ˜•๏ธFIKA 6th Avenue
    • 0.35 mi๐Ÿฅ˜Maruko Sushi & Tea
    • 0.35 mi๐Ÿฅ˜Jazz Standard
    • 0.35 mi๐Ÿฅ˜Momoya
    • 0.36 mi๐Ÿฅ˜Blue Smoke
    • 0.36 mi๐Ÿฅ˜Casa Mono
    • 0.36 mi๐Ÿฅ˜The Breslin
    • 0.37 mi๐Ÿฅ˜John Dory Oyster Bar
    • 0.37 mi๐Ÿฅ˜Qi Asian Eatery
    • 0.37 mi๐Ÿฅ˜Milleseme
    • 0.37 mi๐Ÿš‡123rd Street
    • 0.37 miโ˜•๏ธFIKA 7th Avenue
    • 0.37 mi๐Ÿš‡628th Street
    • 0.37 mi๐ŸบChurchill's Pub
    • 0.37 mi๐Ÿš—Gramercy Park
    • 0.37 mi๐Ÿฅ˜Saravanaa Bhavan
    • 0.37 mi๐Ÿฅ˜Saravana Bhavan
    • 0.38 mi๐Ÿฅ˜PitaCity
    • 0.38 mi๐Ÿฅ˜Potbelly Sandwich Shop
    • 0.38 miโ˜•๏ธBourbon Cafe
    • 0.38 mi๐Ÿฅ˜Pappali
    • 0.38 mi๐Ÿฅ˜Pizza Pub
    • 0.38 miโ˜•๏ธStarbucks
    • 0.38 mi๐Ÿš—Vincent 15 Parking LLC
    • 0.38 mi๐ŸบBarfly
    • 0.38 mi๐ŸบPark Hotel Rooftop Bar
    • 0.38 mi๐Ÿฅ˜Bella Napoli
    • 0.39 miโ˜•๏ธFIKA 28th Street
    • 0.39 mi๐Ÿฅ˜Rare Bar and Grill
    • 0.39 mi๐Ÿฅ˜Bhatti
    • 0.39 mi๐Ÿฅ˜Anisette. Cafe. Bistro.
    • 0.39 mi๐Ÿฅ˜Haldi
    • 0.4 mi๐Ÿฅ˜Rolfโ€™s German Restaurant
    • 0.4 mi๐Ÿฅ˜Lyric Diner
    • 0.4 mi๐Ÿฅ˜Les Halles
    • 0.4 miโ˜•๏ธSeven Grams
    • 0.4 mi๐Ÿš‡118th Street
    • 0.4 mi๐Ÿฅ˜Copper Chimney
    • 0.41 mi๐ŸบTavern29
    • 0.41 mi๐Ÿš‡LNQRW14th Street-Union Square
    • 0.41 mi๐ŸบThe Headless Horseman
    • 0.41 mi๐Ÿš‡L14th Street-6th Avenue
    • 0.41 mi๐Ÿฅ˜Ichiba Ramen
    • 0.41 mi๐Ÿฅ˜Anjappar
    • 0.41 mi๐Ÿ’ชMcBurney YMCA
    • 0.42 miโ˜•๏ธSubway
    • 0.42 mi๐Ÿฅ˜Corkbuzz
    • 0.42 miโ˜•๏ธJoe Coffee
    • 0.42 miโ˜•๏ธCorbet & Conley
    • 0.42 miโ˜•๏ธDoughnut Plant
    • 0.42 miโ˜•๏ธChalait
    • 0.42 mi๐Ÿš‡FMPATH14th Street
    • 0.42 mi๐Ÿฅ˜Ravagh Persian Grill
    • 0.42 mi๐Ÿฅ˜Fresh & Co
    • 0.43 mi๐Ÿฅ˜Haandi
    • 0.43 mi๐Ÿฅ˜Pita Grill
    • 0.43 mi๐Ÿฅ˜Chote Nawab
    • 0.43 mi๐Ÿฅ˜Lahori Kabab
    • 0.43 mi๐Ÿš‡45614th Street-Union Square
    • 0.43 miโ˜•๏ธCafe Delectica
    • 0.43 mi๐Ÿฅ˜Dhaulagiri Kitchen
    • 0.44 mi๐Ÿฅ˜Taboonette
    • 0.44 miโ˜•๏ธGramercy Cafe
    • 0.44 mi๐Ÿฅ˜Crooked Knife
    • 0.44 mi๐Ÿฅ˜Curry in a Hurry
    • 0.44 mi๐Ÿ’ชYMCA McBurney
    • 0.44 mi๐Ÿฅ˜Merchant's
    • 0.44 mi๐Ÿฅ˜California Pizza Kitchen
    • 0.44 mi๐Ÿฅ˜Max Brenner
    • 0.44 mi๐Ÿฅ˜Izumi
    • 0.44 miโ˜•๏ธCafe Grumpy
    • 0.45 mi๐Ÿฅ˜Wine:30
    • 0.45 mi๐Ÿฅ˜Vapiano
    • 0.45 miโ˜•๏ธCosรฌ
    • 0.45 mi๐Ÿฅ˜Bravo Pizza
    • 0.45 mi๐ŸบG Lounge
    • 0.46 mi๐Ÿฅ˜Bella Napoli
    • 0.46 miโ˜•๏ธStarbucks
    • 0.46 mi๐Ÿฅ˜J's Pizza
    • 0.46 miโ˜•๏ธGG Cafe
    • 0.48 mi๐Ÿš‡128th Street

    Neighborhood

    Flatiron District

    The Flatiron District is named after the Flatiron Building, an iconic triangular building that is one of the oldest original skyscrapers in New York City. The building was considered groundbreaking at the time of its construction in 1902, and now symbolizes both the historical importance and innovative spirit that defines the area.

    Based on SquareFoot’s commercial real estate leasing data, the average Flatiron office for rent costs around $70 per square foot. Office space for rent in Class A buildings costs an average of $88 per square foot, while Class B office space for rent leases for $68 per square foot. These average asking rents to not account for Flatiron’s vast sublease market, where offices in Class B spaces can be secured for $45-$65 per square foot.

     

    SquareFoot's NYC Market Report

     

    Flatiron Office Space | Lease Data & Trends

    Flatiron District, defined as between Union Square and Madison Square Park, has more than 31 million square feet of commercial real estate inventory, but direct vacancy rate is one of the lowest in New York at 3% (as of 2018, the city average is around 8%). Despite low availability, demand for Flatiron office space remains high, in part to be at the heart of the NYC’s startup scene. Rental rates vary by building class, lease length, building amenities, and much more. To better understand the nuances of the commercial real estate leasing process, review our Leasopedia resources.

    The Flatiron District is widely recognized as the center of Silicon Alley, New York’s technology hub. Startups, publishers, fashion designers, nonprofits, consulting firms, and advertising agencies work side-by-side. Notable recent leases signed include Yelp (154,000 square feet at 104 5th Ave), Tiffany & Co. (17,00 square feet at 53 West 23rd Street), Betterment (16,909 square feet at 61 West 23rd Street), WeWork (35 East 21st Street and 511 West 25th Street),ย Buzzfeed, Spotify, and Yext.

     

    Office Space for LeasePrice per square footVacancyInventory
    Class A$882%13 msf
    Class B$685%9 msf

     

    Flatiron & Midtown South | Market Sentiment

    Midtown South is the country’s tightest commercial real estate market entering the third quarter, and the vacancy rate decreased an additional 80 basis points in Q3 2018, representing a post- recessionary record low. Unrelenting demand and limited vacancies resulted in Midtown Southโ€™s sixth consecutive quarter of positive net absorption. 2018 office space lease volume is on pace for its most active year since 2014.

    Commercial real estate performance was especially strong at the top of the market. Class A office spaces accounted for 94 percent of Midtown Southโ€™s positive absorption, dropping that segmentโ€™s vacancy rate by 140 basis points quarter-over-quarter. In 2011, Class A office space for rent in Flatiron and Midtown South averaged around $60 per square foot, well below today’s average asking rent of around $90 per square foot.

    For budget-tight businesses seeking to set up shop in the heart of Silicon Alley, the office sublease market presents numerous enticing options for flexible, affordable office space. 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 (avenue addresses tend to have higher asking rents).

     

    What Our Brokers Say About Flatiron Office Space for Rent

    Madison Square Park, fully restored in 2001, is just north of the building the neighborhood is named for. Over 50,000 people visit daily,ย  itโ€™s the perfect spot for both locals and tourists to take lunch, enjoy a coffee, or people watch.

    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 3-6 stories tall. These smaller buildings mean that tenants seeking square footage of 5,000 or less can enjoy the privacy of occupying their own floor, which is rare in other parts of the city. With more modest floor plans with high ceilings, many spaces are ideal for open office concepts.

    Since the formation of the Flatiron/23rd Street Partnership Business Improvement District (BID) in 2006, over 2.2 million in funds are invested annually in the neighborhoodโ€™s sanitation, public safety, marketing, social services, and public improvements. Due to the BIDโ€™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.

     

    Flatiron District | Fitness and Food Culture

    In response to the high number of young workers, the fitness and wellness sector has rapidly taken hold of Flatiron, with 47 fitness gyms and studios available within walking distance and companies like Athleta, Equinox, and Sweaty Betty renting office space.

    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 Best of Flatiron neighborhood guide.

     

    Flatiron District | Neighborhood History

    After evolving from the commercial โ€œToy Districtโ€ to a more residential neighborhood, Flatiron was briefly referred to as the โ€œPhoto Districtโ€ from the 1960s-1980s. Expansive lofts with plenty of natural light 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 until it officially became the Flatiron District in the mid-1980s.

     

    Getting to, From, and Around the Flatiron District

    Pedestrians outnumber vehicles 18:1 in Flatiron, so itโ€™s no surprise that Flatiron has a walk score of 100% and is considered the 6th most walkable neighborhood in Manhattan. 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.

    Flatironโ€™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 Grand Central Station, 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.

    Flatiron is bordered by Greenwich Village to the south, Chelsea to the west, NoMad to the north, and Gramercy Park to the east.

     

    Street-level view of St. James Building at 1133 Broadwayย Low-angle shot of Flatiron building at Broadway and 5th AveBird's-eye view of Flatiron district

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    SquareFoot does not represent the building. Pricing is estimated based on market averages. Information is deemed reliable but not guaranteed.