This 13,375 square foot commercial building now for sale occupies a highly coveted position at the junction of Flatiron and Union Square. The property offers tremendous upside and flexibility for repositioning: the retail and the four upper floors (office/factory space) and the cellar will be delivered vacant. This asset is perfectly suited for sophisticated buyers targeting significant value creation through either a buy-and-hold income strategy or a lucrative retail and residential condo conversion. Structure is landmarked but entirely free-market, ensuring the new owner maintains maximum control over use and conversion strategy. Developers will be attracted by the substantial 13,708 square feet of remaining buildable Floor Area Ratio (FAR). This is a secure, high-value opportunity in a trophy Manhattan location. The building maintains full free-market status, providing the owner maximum control over future residential or commercial conversion strategies. Unmatched proximity to the Union Square transit hub (4, 5, 6, L, N, Q, R, W trains). A rare core-plus opportunity appealing to developers seeking high-yield conversion and value-add investors pursuing long-term capital appreciation in a trophy asset.