Would you pay $58.5m to live New York City's historic Flatiron Building?
New York City's iconic Flatiron Building is nearing the end of a major renovation that converts its historic office space into ultra-luxury apartments. Units are priced as high as $58.5 million, reflecting the extreme end of the city's real estate market.
Why it matters
The project illustrates the trend of repurposing historic commercial architecture into high-end residential real estate in major global cities.
Share Save Add as preferred on Google Grace Eliza Goodwin New York Courtesy of The Flatiron Building The Flatiron Building - with its unique triangular shape, narrow prow, ornamental columns and intricate decorative details - has been one of the most recognisable structures in New York City for more than a century.
But for the last seven years, the Flatiron has been shrouded in scaffolding, its Beaux-Arts exterior hidden from throngs of tourists who came to view it.
It has been undergoing a large-scale renovation, both internal and external, from an awkwardly laid-out office building into ultra-luxury apartments - with new units going for up to $58.5m (£43.9m). Only 21 residences currently on the public market or under contract in New York City are priced higher, with the top spot occupied by a $128m (£96.1m) condo off Central Park, according to data compiled by Manhattan Miami Real Estate.
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