When it comes to a great place to make a first real estate investment (provided of course you have a lot of money to do so) there is no better city than New York City. Prices of real estate with a zip code in New York have withstood the tests of time, recessions, and even a market crash. There are always people who want to live here, businesses that want to start up. Even Dennis Gartman would probably agree that an investment in New York is a relatively safe prospect.

One of the most dynamic and expensive neighborhoods in New York City is Manhattan, and within Manhattan there are a large number of smaller communities with their own distinct flavor. One of these communities is the Flatiron District, a newly re-visioned neighborhood within one of the oldest parts of the city itself. It's an interesting mix of businesses such as shops offering brochure printing online and upscale residential complexes.

The district is named after the historic Flatiron building, which is one of the oldest skyscrapers in New York City. The building set the standard for many an architect in Toronto and the entire world to follow, with its unique triangular construction and its soaring height. Today of course the building is dwarfed by the skyscrapers around it, but it is still a functional and well known part of the city's middle skyline.

The Flatiron building was originally intended for office use, and is still primarily office space today. This is in keeping with much of the Flatiron district, where business is booming. You can find high end shopping including Club Monaco and Victoria's Secret within a quick walk. You can also buy diapers and other household items at the big box stores on the western borders of the district.

Businesses also thrive in the area, including high tech and publishing companies which have taken the place of the old arts community in the area. If you want to be your own boss, this might be the neighborhood to do it from, as there are many businesses looking to contract out various services to keen individuals.

The community also has its share of public amenities. Among the more titillating are Andy Warhol's tribute building, the Gershwin Hotel, as well as the still controversial Museum of Sex in New York. Madison Square Park, having just undergone extensive rebuilding, is also a major attraction within the Flatiron district for many residents.

If you are planning on being one of the residents of the Flatiron district, you had better come with a lot of cash. New developments in the area sell for very high prices; the penthouse suite in the new One Madison Park is to be sold for $45 million!