**Flatiron District Office Building Sells for $13.2 Million at $611 Per Square Foot**
Brax Realty has announced the successful sale of 174-176 Fifth Avenue in Manhattan’s Flatiron District for $13,200,000. Managing Principal Michael Ferrara and Investment Associate Cole Kinney Leonhardt represented both the long-time family seller and the private investor buyer in the transaction.
The office building, which has sold for the first time in over 55 years, changed hands at a rate of $611 per square foot. Spanning 43 feet in width, it is the widest building on its block and is situated directly across the street from the iconic Flatiron Building between 22nd and 23rd Streets.
The property falls within the C6-4M zoning district, which permits office or residential use as of right. According to Brax Realty, the building also offers additional unused air rights, providing potential for future development or expansion, subject to approvals within the boundaries of the Ladies Mile Historic District.
