The Building Today
As an icon of New York City, the Flatiron Building is a popular spot for tourist photographs, but it is also a functioning office building which is currently the headquarters of publishing companies held by Verlagsgruppe Georg von Holtzbrinck of Stuttgart, Germany, under the umbrella name of Macmillan, including St. Martin's Press, Tor/Forge, Picador and Henry Holt and Company. Macmillan is renovating some floors, and their website comments that:
The Flatiron’s interior is known for having its strangely-shaped offices with walls that cut through at an angle on their way to the skyscraper’s famous point. These “point” offices are the most coveted and feature amazing northern views that look directly upon another famous Manhattan landmark, the Empire State Building.
There are oddities about the building's interior: to reach the top floor, the 21st, which was added in 1905, three years after the building was completed, a second elevator has to be taken from the 20th floor; on that floor, the bottoms of the windows are chest-high; the bathrooms are divided, with the men's rooms on even floors and the women's rooms on odd ones.
During a 2005 restoration of the Flatiron Building a 15-story vertical advertising banner covered the facade of the building. The advertisement elicited protests from many New York City residents, prompting the New York City Department of Buildings to step in and force the building's owners to remove it.
In January 2009, an Italian real estate investment firm bought a majority stake in the Flatiron Building, with plans to turn it into a world-class luxury hotel, although the conversion may have to wait ten years until the leases of the current tenants run out. The Sorgente Group S.p.A., which is based in Rome, controls just over 50% of the building and plans to increase its stake. The firm's Historic and Trophy Buildings Fund owns a number of prestigious buildings in France and Italy, and was involved in buying, and then selling, a stake in New York's Chrysler Building. The value of the 22-story Flatiron Building, which is already zoned by the city to allow it to become a hotel, is estimated to be $190 million.
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