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Flatiron Where Then Meets Now: Hospitality Hotspot

The Flatiron/23rd Street Partnership BID's eighth annual Flatiron: Where Then Meets Now report showcases the significant development and growth of the hospitality sector in the district.

Subtitled “The Flatiron District: Hospitality Hotspot,” this year’s report comprehensively describes the district’s 2018 vital statistics, and highlights the strength of its hospitality sector, which has contributed to the neighborhood’s overall economic growth. The report is among a suite of publications from the BID that focuses on the real estate market in the neighborhood.

>> Download the Report Here

“The growth of the hospitality sector in the Flatiron District has been remarkable, as this report demonstrates,” said Jennifer Brown, the Flatiron/23rd Street Partnership’s Executive Director. “It’s easy to see why hotel developers want to be in Flatiron. With the neighborhood’s central location, proximity to historic and cultural sites, plethora of restaurants, and easy access to public transportation, Flatiron is a popular destination for tourists and local visitors alike. The report also shows that Flatiron is a dynamic neighborhood with an irresistible mix of commercial and residential sectors.”

“Flatiron is a welcoming destination for global travelers who want to experience everything that comes with one of Manhattan's most dynamic neighborhoods—world-class arts and culture, rich history and architecture, and exciting dining and nightlife,” said Fred Dixon, President and CEO of NYC & Company,the official destination marketing organization for the five boroughs of New York City. “With everything the neighborhood has to offer, including its wonderful and growing array of hotels, Flatiron's hospitality is an integral part of the New York City tourism landscape.”

From 21st to 28th Streets, and Sixth Avenue east to Third Avenue, the BID boundaries cover about 21.8 million square feet of commercial space and house approximately 4,200 commercial tenants and 560 ground-floor businesses. Since the establishment of the BID—one of 75 in the city—in 2006, Flatiron has undergone a dramatic transformation into a safe, clean, and desirable neighborhood sought out by all types of people, businesses, industries, and interests.

As New York City’s tourism boom continues—with a 19.8% growth in visitors in the last five years and 65.1 million tourists expected citywide this year—the Flatiron District’s hospitality sector has grown substantially. The number of hotel rooms in and around the neighborhood is up 93.8% since 2011, to a total of 4,652.

With another 1,620 hotel rooms currently under development in the neighborhood, Flatiron is a prime illustration of a broader citywide trend: one out of every five dwelling units now under construction in New York City is a hotel. The number of New York City hotel units in the construction pipeline has doubled between 2013 and 2018. Among the seven hotels currently in development in Flatiron include the Renaissance Hotel, Moxy Hotel, Ritz Carlton, Virgin Hotel, and Springhill Suites Marriott.

Sixty restaurants, bars, cafes, and retailers operate within the area’s 25 hotels, offering both tourists—as well as New Yorkers—more than just a place to stay. Flatiron: Where Then Meets Now takes a deep dive into the rich history, beautiful architecture, luxurious amenities, and diverse dining options at five of the district’s most exciting hotel developments: Freehand Hotel, The James New York NoMad, The Evelyn Hotel, The New York EDITION, and The NoMad Hotel.

The report also provides a snapshot of how hotel development on both Broadway and 28th Street have been catalysts for business growth, paving the way for other new and trendy dining and retail offerings nearby.

 >> Flatiron Where Then Meets Now - Flatiron District: Hospitality Hotspot 

Photo credit: Benoit-Linero