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Deals & Dealmakers

Flatiron development site hits market

A block-through development site in the coveted Flatiron neighborhood has hit the market.

Compass vice president Adelaide Polsinelli is selling the site at 16 West 18th Street and 21 West 17th Street in the historic ladies Mile district.

“Finding a development opportunity with complete plans in an established neighborhood such as the Flatiron, is rare,” noted Polsinelli. “This project is perfect for opportunistic developers actively investing in sites which will benefit from today’s low interest rates and Post-Covid future.”

The site comprises two mixed use buildings located between Fifth and Sixth Avenues, two blocks from Union Square Park.

16 West 18th St.

Approved development plans call for two residential towers with a shared interior landscaped garden and amenities for each of the 22 full floor apartments. The ground floor component plans for two retail spaces.

“The ultimate purchaser will enjoy a development in the heart of New York City, that is well- poised to capitalize from the appreciation awaiting this real estate cycle,” added Polsinelli, noting the neighborhood is home to 70,000 residents, 150,000 employees and 60,000 students.

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