The five-coordinate iron-dithiolate complex (N,N′-4,7-bis-(2′-methyl-2′-mercatopropyl)-1-thia-4,7-diazacyclononane)iron(III), [LFe]+, has been isolated as the triflate salt from reaction of the previously reported LFeCl with thallium triflate. Spectroscopic characterization confirms an S = 1/2 ground state in non-coordinating solvents with room temperature µeff = 1.78 µB and EPR derived g-values of g1 = 2.06, g2 = 2.03 and g3 = 2.02. [LFe]+ binds a variety of coordinating solvents resulting in six-coordinate complexes [LFe-solvent]+. In acetonitrile the low-spin [LFe-NCMe]+ (g1 = 2.27, g2 = 2.18 and g3 = 1.98) is in equilibrium with [LFe]+ with a binding constant of Keq = 4.03 at room temperature. Binding of H2O, DMF, methanol, DMSO and pyridine to [LFe]+ yields high-spin six-coordinate complexes with EPR spectra that display significant strain in the rhombic zero-field splitting term E/D. Addition of one equivalent of triflic acid to the previously reported diiron species (LFe)2O results in the formation of [(LFe)2OH]OTf, which has been characterized by x-ray crystallography. The aqueous chemistry of [LFe]+ reveals three distinct species as a function of pH: [LFe-OH2]+, [(LFe)2OH]OTf, and (LFe)2O. The pKa values for [LFe-OH2]+ and [(LFe)2OH]OTf are 5.4 ± .1 and 6.52 ± .05 respectively.