New York’s famous “Iron Building” has been auctioned for 161 million dollars (about 150 million euros) in the second attempt. After a bidding war that lasted about half an hour on the steps of a Manhattan courthouse, the auctioneer’s hammer fell for the amount on Tuesday — a bid from real estate developer Jeff Gural, who already owns part of the triangular building.
At the previous auction at the end of March, Gural had to admit defeat to fellow bidder Jacob Garlick, who won the auction with a bid of $ 190 million. But then Garlick failed to make an initial $19 million down payment on time – and his right to purchase was forfeited.
Auction after dispute between owners
The auction was ordered by a judge after a dispute broke out between the five previous owners over the future of the building. The real estate companies GFP Real Estate, Newmark, ABS Real Estate Partners and Sorgente Group jointly owned 75 percent of the building, while real estate developer Nathan Silverstein owned the other 25.
The triangular Flatiron Building is one of New York’s most popular attractions. The approximately 90 meter high building, which has also appeared in numerous films and television series, was opened in 1902 – at the intersection of Broadway, 23rd Street and Fifth Avenue in the middle of Manhattan. Until a few years ago, Macmillan Publishers rented all 21 floors of the building, but since the move it has stood empty and is currently partially under scaffolding.
Source: Krone
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