Flatiron

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  • 175 5th Ave New York City New York 10010 United States
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1REC's Take
About
Occupancy
Rents
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Vendors
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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

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.
Trade Area Summary

Basic Demographics

Median Household Income: $117,358
Consumer Expenditure: $25,791,828,152
Population: 589,228
Daytime Population: 1,797,786
Source Notes: Data reflects 20 minute drive times as of Q3 2023 (Experian) and is provided by Dallimore & Co, a boutique advisory firm specializing in growth strategy, real estate solutions, and M&A for specialty retail and consumer brands.

Household Segment Breakdown

Segment #1: G – Educated Urbanites (79%)
Segment #2: A – Ultra Wealthy Families (20%)
Segment #3: I – Young Urban Singles (0%)
All Other Segments: 0%

Source Notes: Segment data reflects 0.25mi radius and is provided by Spatial.ai, an AI-Powered segmentation platform for retail marketers.

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: $45
Source Notes: Data sourced from public and private records.
Destination Rents
Average Rent (psf): $185
Median Rent (psf): $180
Rent Range (psf): $180-$218
Rent Variability: Medium
Source 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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MSA: New York-Newark-Jersey City NY-NJ-PA
Address: 175 5th Ave
New York City
New York
10010
United States
Place Tags: NYC
Website
Retail Type: Streets & Neighborhoods

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