The famed Flatiron Building is looking for new tenants to fill out its more than 200,000 square feet of office space.

The 1902 tower, designed by architect Daniel Burnham, was recently emptied to make way for a top to bottom overhaul of its interior, which includes a full lobby renovation, six modernized elevators, and the addition of a central HVAC system to replace nearly 650 window AC units. 

The changes come in tandem with a handful of exterior updates. The Flatiron's entrances and storefronts will be revamped, as will the penthouse, which will see its narrow windows replaced and balcony renovated. These alterations are being overseen by Beyer Blinder Belle and were approved by the Landmarks Preservation Commission in mid-April. 

New lobby entrances | Beyer Blinder Belle

The existing penthouse balcony (left); The planned update (right) | Beyer Blinder Belle

This is the first time in more than 60 years that all the tower's space is available, says Crain's, which first broke the news.

Though as iconic as the building may be, the Flatiron will be vying for the attention of shrinking pool of prospective tenants. Demand remains slumped, and Manhattan's office supply is the highest it has been in at least 30 years; the availability rate jumped to 17.2 percent in the first quarter 2021.

Asking rents at the tower are more than $100 a square foot, which is notably higher than the area's $77.16 average.

However, Mary Ann Tighe, chief executive officer of the New York tri-state region at CBRE, the brokerage marketing the offices, seems unphased by the figures. “We don’t think that the current market conditions actually relate to this leasing program because three years from now, there won’t be any space in the Flatiron,” Tighe told Crain's. She further emphasized the unique opportunity of leasing in an iconic building. 

Tighe added that CBRE has already received three proposals, mostly from international firms, and expects more offers to come in as leasing efforts have just begun.