MLess than two months after a previous bid fell through, an iconic New York building, the ‘Flatiron’, was auctioned on Tuesday for $161 million to a group of buyers led by real estate developer Jeff Gural , announced the company which organized the sale.
The sale took place in the open air, in lower Manhattan, in front of a hundred people, and seven buyers were registered, indicated the company Mannion Auctions. Jeff Gural, 80, is no stranger to the “Flatiron”, since he represents 75% of the owners of the iron-shaped building.
A 22-storey, 87-meter high office building, at the crossroads of 22nd Street, Fifth Avenue and Broadway, the “Flatiron” was built in two years and completed in 1902. Its pointed shape, recognizable among all and which gave it given its name, is explained by the intersection of Fifth Avenue and Broadway, the only artery in Manhattan not aligned with the rectilinear plane of the island.
On March 23, the building was sold for the first time for 190 million dollars, under an order from the city, to settle a dispute between its owners. But the buyer, financier Jacob Garlick, founder of the Abraham Trust investment fund, had not paid the 19 million dollars in advance by March 24.
The building could already have gone to Jeff Gural, boss of GFP Real Estate, who had offered 189.5 million dollars, but the latter preferred to wait for new auctions to be organized.
2023-05-25 06:00:56
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