Successful Sale of 10 West 17th Street in Flatiron, Manhattan
BKREA is proud to announce the successful sale of 10 West 17th Street, a prime residential development site located in the heart of Manhattan’s coveted Flatiron District. Spearheaded by Bob Knakal, CEO of BKREA, alongside Senior Vice President Ryan Candel and Senior Associate Jas Saini, this transaction marks a major milestone—Bob Knakal’s 3,522nd building sale across New York City’s five boroughs.
This rare offering—a fully vacant site with DOB and LPC-approved plans for a luxury tower—stands as one of the most desirable development opportunities currently available in the Flatiron submarket.
Sale Details
The property sold for $16,220,000, reflecting strong demand for approved development opportunities in Manhattan. The price equates to approximately $391.79 per buildable square foot based on the proposed 41,400 buildable SF.
Highlights of the sale:
- Sale Price: $16,220,000
- Price per BSF: ~$391.79
- Property Type: Residential Development Site
- Sale Date: July 21,2025
- Seller Type: Private Owner
Property Details
10 West 17th Street is located between Fifth Avenue and Avenue of the Americas, a prime position within one of Manhattan’s most architecturally rich and amenity-filled districts. The property offers an exceptional opportunity to deliver a luxury residential tower in a high-demand market.
Full Address: 10 West 17th Street, New York, NY 10011
Zoning: As-of-right residential zoning
Lot Size: 4,140 square feet
Buildable SF: 41,400 BSF (DOB-approved)
Plans: Full DOB and LPC approvals in place
Architect: DXA Studio
Proposed Project: 18-story, 41,290 ZFA luxury residential tower
Investment Highlights:
- Fully vacant site, allowing immediate commencement of construction
- Full set of DOB- and LPC-approved plans by renowned DXA Studio
- Located in the Flatiron Historic District, with elegant contextual design
- One of the few remaining shovel-ready luxury residential projects in the area
Market Strategy and Positioning
In today’s market, the demand for turn-key, approved development sites in prime Manhattan neighborhoods remains resilient. 10 West 17th Street offers a rare combination of zoning clarity, vacant delivery, and design approvals—eliminating risk for developers and allowing immediate execution.
This opportunity aligned with a growing trend of boutique, luxury residential towers tailored for discerning urban buyers seeking central locations with heritage value and modern amenities.
Neighborhood Overview: Flatiron District
Flatiron is one of Manhattan’s most iconic and vibrant neighborhoods, known for its elegant architecture, central location, and rich lifestyle offerings.
Nearby highlights include:
- Union Square Park and Madison Square Park
- Fifth Avenue and Chelsea retail corridors
- Eataly, ABC Kitchen, and other acclaimed dining destinations
- Access to major subway lines including the F, M, L, N, Q, R, W, and 4/5/6 trains
Key Neighborhood Characteristics:
- Central location between Midtown and Downtown
- High walkability and access to transit
- Blend of historic buildings and modern developments
- Strong demand for residential product, especially luxury offerings
Conclusion
The sale of 10 West 17th Street demonstrates BKREA’s unmatched expertise in navigating complex development sales and delivering strategic outcomes for clients. With full approvals, vacant possession, and a premier Flatiron address, this property stands as a benchmark for the type of high-quality development opportunities still available in Manhattan.
Bob Knakal’s 3,522nd building sale is more than a number—it’s a reflection of decades of trusted experience, precision, and results-driven representation across every borough of New York City.
Testimonial
For Bob Knakal, the sale of 10 West 17th Street is more than another transaction—it represents decades of market leadership and a steadfast commitment to client success.
“Achieving building sale 3,522 is incredibly meaningful, and 10 West 17th Street is the perfect example of the type of rare, high-quality development opportunity that still exists in Manhattan,” said Bob Knakal, CEO of BKREA. “The combination of fully approved plans, vacant delivery, and a prime Flatiron location made this a standout offering. We are proud to have delivered a successful result for our client.”
Ryan Candel, Senior Vice President at BKREA, added:
“This transaction highlights the continued strength and resilience of the Flatiron market for well-positioned residential developments. Sites like 10 West 17th Street, which offer vacant possession and approved plans, are incredibly attractive to both experienced and first-time developers.”
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Frequently Asked Questions
Q1: What makes 10 West 17th Street a unique development opportunity?
It is one of the few fully vacant, shovel-ready residential sites in Flatiron, complete with approved architectural plans and LPC approvals—ready for immediate construction.
Q2: What are the approved plans for this site?
The approved plans call for an 18-story, 41,290 ZFA luxury residential tower designed by DXA Studio.
Q3: Why is the Flatiron District desirable for residential development?
Flatiron combines architectural charm, prime retail, and top-tier dining with proximity to Midtown and Downtown. Its central location and historic context make it a favorite among developers and residents alike.
