Flatiron

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  • 175 5th Ave New York City New York 10010 United States
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1REC's Take
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1REC's Take
Pros

✔ Iconic architecture ✔ Vibrant retail and dining scene ✔ Proximity to tech and creative industries

Cons

✘ High rent prices ✘ Crowded streets ✘ Limited residential options

Shopper Profile

✦ Young Professionals: Working in tech and startups ✦ Tourists: Visiting the Flatiron Building ✦ Preferences: Trendy dining, boutique shopping, co✦working spaces

Successful Retail Uses:
Trendy Dining, Boutique Shops, Co-working Spaces
About Location
Marked by its iconic Flatiron Building, this district marries history with hipness. Renowned for design and tech firms, the area is also a magnet for food enthusiasts and shoppers alike, presenting a premium blend of boutique stores and restaurants. Rents are high, reflecting its desirability and mixed landlord landscape.
Household Income in Trade Area: $170,000
Retail Sales in Trade Area: $4.2 billion
Population in Trade Area: 200,000
Occupancy
Tenant Sales per Square Foot: $1,400
Occupancy Rate: 95%
Anchor Tenants: ABC Carpet & Home, Eataly, Barnes & Noble
Tenant Rent/Sales Ratio (%): 10.71% – 14.29%
Rent $ / Visitor (relative cost of the foot traffic): $45
Other Notes: Data sourced from public and private records.
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Destination Rents
Average Rent (psf): $185
Median Rent (psf): $180
Rent Range (psf): $180-$218
Rent Variability: Medium
Other Notes: Data provided by Retail by MONA, a New York based brokerage firm.
Know Before You Go
Preferred ISP(s)
Spectrum, Verizon Fios
Estimated Permit Timeline (weeks)
6-8
Landmarks Risk
Medium
Union Labor Disharmony Likelihood
Medium
Recommended Vendors' Links 🔗

Local Broker: Retail by MONA

Building Surveyor: DrafterMax

Permit Expeditor: Paul Fusco Consulting

Licensed Architect: Prose Architecture

Store Designer: Carina Miranda Studio

Real Estate Attorney: Fentin Goldman

General Contractor: O'Leary Group

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Primary Landlord: NYC
Retail Type: Streets & Neighborhoods
Address: 175 5th Ave
New York City
New York
10010
United States
MSA: New York-Newark-Jersey City NY-NJ-PA
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