Looks like this whole area, centered around the Flatiron, is really on the verge of becoming another Columbus Circle redevelopment success story...
Curbed.com
Madison Square Annex Wants You to Get That Great Shot
Tuesday, August 12, 2008, by Jeremy
Amazing what a little asphalt paint can do, observes Chad of Tropolism, who gets jiggy with the rejiggering of the formerly insane traffic pattern just west of Madison Square Park. Goodbye, "illogical traffic patterns" [PDF] and "daunting pedestrian environment." Hello, handy place to get in touch with your inner Steichen and capture the Flatiron Building in your designer pink galoshes. Opines Chad on the NYC DOT's latest streets-rehab: "All that is needed now is about a hundred Bryant Park tables and chairs and we'll be seeing them digging the whole thing up as a major park addition in 2011."
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I think a nice fountain right in the middle of that, and shade trees, would be swell...