The Flatiron Building's distinctive Beaux-Arts architecture stands tall in New York City. (Photo: Matthias Oberholzer/Courtesy of The Flatiron Building)
Cover Framed by the lush canopy of Madison Square Park, the sharp northern wedge of the Flatiron Building faces uptown, cutting through the intersection of Fifth Avenue and Broadway. Soon, this 125-year-old architectural landmark will transition from its commercial origins into Manhattan's most exclusive residential address. (Photo: Matthias Oberholzer / Unsplash)
The Flatiron Building's distinctive Beaux-Arts architecture stands tall in New York City. (Photo: Matthias Oberholzer/Courtesy of The Flatiron Building)

Securing exclusive access, Tatler Shangliu Editorial Director Li Fan goes behind the scenes with real estate insider James Lansill to detail the historic transformation of NYC’s iconic Flatiron Building—from $58.5 million full-floor residences to bespoke interiors by Gucci and Tom Ford designer William Sofield

While restoring a 125-year-old architectural icon requires engineering ingenuity, turning Daniel Burnham’s Flatiron Building into Manhattan’s most coveted residential address demands equal precision in market strategy and spatial design.

Following a high-stakes public auction, real estate industry veteran James Lansill teamed up with the Brodsky Organization to execute a radical vision: transforming 22 floors of historic commercial space into just 37 ultra-luxury homes.

For the second part of my exclusive Tatler feature on this architectural landmark and personal NYC favourite, James Lansill joins me to detail the strategy behind creating massive multi-million-dollar floor plans, why the Flatiron outshines Manhattan's supertall towers, and how understated marketing attracts the world’s most discerning buyers.


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A grand indoor swimming pool provides a luxurious escape, typical of the refined amenities found in upscale buildings in the Flatiron district.
Above Set within a double-height cellar space, the 65-foot (20-metre) swimming pool is crowned by a glass skylight connecting to the 5,000-square-foot (465-square-metre) fitness centre above. Designed by William Sofield, the subterranean wellness sanctuary includes a spa, cold plunge, sauna, and private dressing rooms. (Photo: Visualisation One/courtesy of James Lansill)
A grand indoor swimming pool provides a luxurious escape, typical of the refined amenities found in upscale buildings in the Flatiron district.

To start, when did you first learn that the Flatiron Building would be converted into residences, and what was the path to bringing it to market?

James Lansill: The building went up for auction and entered the market around 2023. Importantly, it was not initially marketed for residential conversion; rather, it was put up for sale due to a breakdown in the existing ownership partnership. Unable to reach a consensus on the building’s future, the partners decided to pursue a sale as an exit strategy. As you may have seen in media coverage, the process was somewhat contentious: a bidder won the initial auction but failed to secure the necessary funding, prompting a second auction round.

During both auction phases, I consulted with several developers. I have built extensive connections in the industry, and many developers expressed interest in the building—though all struggled to determine its optimal use. In the final round, the Brodsky Organization, a dedicated residential developer with whom I have collaborated for over 20 years, formed a partnership with one of the winning bidders. This marks our seventh project together, so we share a strong foundation of trust. Given their focus solely on residential development, we began planning the conversion even before the sale was finalized, likely in late 2023 or early 2024. The past two and a half years have been dedicated to preparing the building for market, and this project stands among the most significant highlights of my career.

Read more: Inside Chow Yun-fat’s multi-million property portfolio—and unsold Peak mansion

 

Spatial luxury: only two residences per floor

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A sophisticated living space featuring a prominent exposed structural column and expansive city views.
Above A proposed great room within a 7,500-square-foot (697-square-meter) full-floor residence on the 20th floor of the Flatiron Building. Designed by William Sofield, the grand layout makes dramatic use of the landmark's famous northern wedge, anchoring the sharp apex with a grand piano framed by panoramic Manhattan views. (Photo: Visualisation One/courtesy of James Lansill)
A sophisticated living space featuring a prominent exposed structural column and expansive city views.

How were decisions made regarding space allocation, such as floor configurations, ceiling heights, and unit counts?

James Lansill: We dedicated approximately six to eight months to testing various floor plans, ranging from as many as seven residences per floor to a single residence per floor. Concurrently, the building was undergoing demolition, which exposed the old office spaces for the first time in 123 years—raw, unadorned spaces with only perimeter windows and bare floors. This allowed us to gain a true understanding of its potential.

The combination of rigorous plan testing and on-site assessment led us to a layout with two residences per floor—one facing north and one south. These homes are quite spacious, ranging from 3,500 to 4,500 square feet (approximately 325 to 418 square metres), with finished ceilings in the new residences ranging from 10 feet 2 inches (3.1 metres) to 13 and a half feet (4.1 metres).This decision comes with greater financial risk for the developers, partners, and lenders, as larger residences command higher average price points.

We initially planned for 38 residences, but that number has since decreased to 37, as a full floor was recently sold to a buyer who intends to combine the two units. Floors 20 and 21 are full-floor residences, each spanning 7,500 square feet (approximately 697 square metres), and one of these was sold for US$58.5 million. The market has validated our decision: we launched sales in early February and have already signed 11 contracts, with a 12th pending.

Read more: Restoring a 125-year-old icon: How NYC’s Flatiron building is being transformed from the inside out

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The grand entrance hall of the Flatiron Building, featuring a lavish chandelier and intricate mosaic floor.
Above The proposed grand lobby of the Flatiron Building, featuring a lavish chandelier and intricate flooring. (Photo: Visualisation One/courtesy of James Lansill)
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The elegant Fifth floor landing, featuring classic mosaic tilework and a luxurious elevator in a prominent flatiron building.
Above The elegant fifth floor landing, featuring classic mosaic tile work. (Photo: Visualisation One/courtesy of James Lansill)
The grand entrance hall of the Flatiron Building, featuring a lavish chandelier and intricate mosaic floor.
The elegant Fifth floor landing, featuring classic mosaic tilework and a luxurious elevator in a prominent flatiron building.

Flatiron vs. Billionaires’ Row: the Downtown advantage

What sets the Flatiron Building apart from the popular Billionaires’ Row supertalls south of Central Park?

James Lansill: First and foremost, the Flatiron Building is located downtown, which I believe offers a more vibrant and dynamic atmosphere than uptown. The Flatiron District is home to some of New York’s top restaurants, all within a few blocks. Directly across the street is Eataly, and Eleven Madison Park is just two blocks away. It is a truly lively and desirable neighborhood.

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Flatiron in Summer, 1948, printed 1975. Gelatin silver print. Image: 31.5 x 25.9 cm (12 3/8 x 10 3/16 in.). The Elisha Whittelsey Collection, The Elisha Whittelsey Fund, 1975 (1975.559.1).
Above Captured mid-century by photographer Rudy Burckhardt, the Flatiron Building exemplifies the grounded character and neighborhood energy of downtown Manhattan. Daniel Burnham’s 1902 masterpiece offers an intimate scale and rich downtown history that modern glass supertalls cannot replicate. (Photo: Rudy Burckhardt, Flatiron in Summer, 1948, printed 1975. Gelatin silver print. © Estate of Rudy Burckhardt/Artists Rights Society (ARS), New York. Image © The Metropolitan Museum of Art)
Flatiron in Summer, 1948, printed 1975. Gelatin silver print. Image: 31.5 x 25.9 cm (12 3/8 x 10 3/16 in.). The Elisha Whittelsey Collection, The Elisha Whittelsey Fund, 1975 (1975.559.1).

Additionally, the building stands only 24 stories tall, placing it closer to the ground. Many individuals, particularly those who reside outside the United States, prefer not to live excessively high above the street. The building’s robust architecture—with its strong, stacked architectural elements—creates a sense of solidity, making the interior feel secure and private.

One of the most remarkable aspects of the Flatiron Building is its tranquility. Despite being in the heart of a bustling city, the interior is nearly silent. You can see the energy of New York around you, but you are not overwhelmed by noise—a feature that many buyers find incredibly appealing. Furthermore, the building’s scale is boutique in nature. With only 37 residences, the community is intimate, and residents will not feel lost in a large, impersonal building. In contrast, many Billionaires’ Row towers share similar designs and lack unique character. This building is one of a kind; there is nothing else like it in New York, or even the world.

A private club experience: bespoke amenities

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A billiards lounge featuring plush green walls and dark wood accents, reflecting the luxury of the Flatiron District.
Above Located on the mezzanine level, the bespoke billiards lounge offers an intimate, private club experience exclusive to the building’s 37 residences. Complemented by the adjacent Park View Lounge overlooking Madison Square Park, the space features dedicated food and cocktail service delivered directly from the ground-floor restaurant via an in-house dumbwaiter. (Photo: Visualisation One/courtesy of James Lansill)
A billiards lounge featuring plush green walls and dark wood accents, reflecting the luxury of the Flatiron District.

What amenities are being integrated to complement the lifestyle of these residences?

James Lansill: We have designed amenities that are elegant, functional, and in keeping with the building’s character. There is a double-height lobby with a doorman and concierge, along with private elevators that lead directly to each residence’s private vestibule—ensuring privacy and exclusivity.

In the cellar, we have a 65-foot (approximately 20-metre) swimming pool in a double-height space, with a glass skylight that connects to a 5,000-square-foot (approximately 465-square-metre) gym. The gym also includes a spa, cold plunge, sauna, and beautifully designed dressing rooms, all by William Sofield.

Understated marketing an buyer demographics

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Photo 1 of 5 A luxurious interior of a Flatiron Building features vibrant yellow seating, intricate mosaic flooring, and elegant arched doorways.
Photo 2 of 5 A primary bathroom in a luxury urban residence features a freestanding metal tub, dual marble vanities, and large windows overlooking city buildings.
Photo 3 of 5 The well-appointed kitchen of a luxury residence near the iconic Flatiron Building.
Photo 4 of 5 A sophisticated bedroom within a city residence offers a bright outlook onto the urban environment.
Photo 5 of 5 The iconic Flatiron Building in New York City, celebrated for its distinctive triangular architecture.
A luxurious interior of a Flatiron Building features vibrant yellow seating, intricate mosaic flooring, and elegant arched doorways.
A primary bathroom in a luxury urban residence features a freestanding metal tub, dual marble vanities, and large windows overlooking city buildings.
The well-appointed kitchen of a luxury residence near the iconic Flatiron Building.
A sophisticated bedroom within a city residence offers a bright outlook onto the urban environment.
The iconic Flatiron Building in New York City, celebrated for its distinctive triangular architecture.

What marketing strategy have you adopted to reach serious buyers, and what can you share about the buyer profile so far?

Our strategy is intentionally understated—we do not run any advertising campaigns. The Flatiron Building’s name and legacy speak for themselves. When we make a sale, we list it in our systems, and the press naturally covers it, generating organic media attention. This approach attracts highly qualified buyers who are already familiar with the building’s significance, rather than casting a wide net. We do not have a high volume of appointments, but the individuals who do visit are serious, discerning buyers with the means to purchase. We have a very high conversion rate.

While we cannot disclose specific details about individual buyers, we have received interest from around the world, and the buyer pool is diverse. Most of the sales to date have been to New Yorkers, many of whom live within a few blocks of the building and are upgrading to a larger residence. That said, we have also had international buyers purchase units, and the mix of local and global interest is healthy. What unites all our buyers is a desire for something unique—something that cannot be replicated.

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Li Fan
Editorial Director, Tatler Shangliu, Tatler Asia
Tatler Asia

Li Fan is the Editorial Director of Tatler Shangliu, overseeing coverage of luxury lifestyle, culture, leadership, and influential global profiles.