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Flatiron District at a Glance

$ 65 /ft

The average cost per square foot per year in Flatiron District

The Flatiron District is one of New York’s most cultural, exciting, and electric neighborhoods today. It was named in 1985 after the famously triangular Flatiron Building, and has since become the heart of New York City.

The area is bounded by 20th Street, 26th Street, Avenue of the Americas, and Lexington Avenue. Neighborhoods adjacent to Flatiron are Greenwich Village to the South, Chelsea to the West, NoMad to the North, and Gramercy to the East. Broadway cuts through the middle of the neighborhood, with Madison Square Park bordering the Northern end.

Melding the new with the old, the area is swathed in cast-iron architecture and features a large number of design, photography, clothing, and stationery stores. The Flatiron District takes up a plot of land in the core of Manhattan and serves as a bustling crossroads of recreation and business. As of the 2000s, many publishers, advertising agencies, and technology-related startups have established offices in the area, causing it to become dubbed part of ‘Silicon Alley’ - a constellation of neighborhoods known for attracting startups in recent years. As the entrepreneurial scene has expanded, the demand in office space for lease has risen, making Flatiron a premium location for a wide variety of firms.

Due to the bedrock Manhattan schist being deeper in this particular area of Manhattan, most buildings top out around 20 stories, with the number of 3-6 story buildings also being quite numerous. The result is a large number of loft spaces with larger open space and better natural lighting. The Flatiron office spaces are also generally less expensive than their counterparts in SoHo and TriBeCa.

There are a number of notable buildings located in Flatiron. Obviously, the one that first comes to mind is the Flatiron Building itself. Interestingly, this building is actually formally known as the Fuller Building, but because of its unique triangular shape was given the popular moniker ‘Flatiron.’ Just to the East at 1 Madison Avenue is the Met Life Tower, which was the tallest building in the world from 1909 to 1913, and is now occupied by Credit Suisse. To the North lies the New York Life Building, which is situated on the site of the old Madison Square Garden (which itself now exists outside the area near Herald Square). Finally, One Madison Park is a premium 50-story skyscraper that offers luxury condominiums.

In addition to the bustling business scene, the area attracts a large number of consumers and tourists who enjoy the large number of retail outlets, restaurants, and bars. At night, the neighborhood is serviced by a huge number of lounges, cabarets, and clubs which ensure that this particular slice of Manhattan truly never sleeps. Perhaps the most intriguing feature of the Flatiron District is Madison Square Park - a 2.5 hectare park that features readings, concerts, and public art exhibitions in the warmer months. The area is also home to Little Korea, aka Koreatown, which lies between 30th to 34th Street between Broadway and Fifth Avenue. There’s very little to not like about the Flatiron District as it truly offers something for everyone - making it a great place for businesses looking for a hip, young neighborhood to find space in.

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