The famous New York skyscraper was sold at auction on Wednesday by Mannion Auctions at a price almost four times higher than its starting price. 190 million dollars (about 174 million euros) against 50 million dollars requested (45 million euros). Even one of its former owners, Jeffrey Gural of GFP Real Estate, was surprised by this staggering sum: “I was a little shocked, to tell you the truth. I never thought anyone would bid so much for the building. It’s a nice building, but it needs $100 million in upgrades. It’s almost empty“, he told NY1, an American television channel that broadcasts news continuously.
However, the price at which the building started is justified by its exceptional character. It is one of the most photographed buildings in the world thanks to its iron shape, a triangular shape unique to New York. It was also one of the tallest skyscrapers in Manhattan when it was built in 1902 by architect Daniel Burnham, although it was never the tallest in the world. It even appears in the movie “Spider-Man” as it houses the diary where Peter Parker works.
A fierce battle
Jeffrey Gural was the fiercest competitor to the winner, Jacob Garlick. The bids got too high for him and he said “It is not worth the trouble“. For 45 minutes, the two opponents fought a fierce battle outside the state Supreme Court in Lower Manhattan, increasing their bets by $500,000 with each new bid. Jeffrey Gural, bitter after his loss, blasted the winner: “I wish you hadn’t come.»
Jacob Garlick, for his part, assures that it was the dream of his life since he was 14 to become the owner of the Flatiron Building. “We are honored to be a steward of this historic building, and it will be our life’s mission to preserve its integrity forever.What will become of the structure occupied until 2019 by the publisher MacMillian Publishers, which rented the 21 floors of offices? Will it remain an office building or will it become a hotel? We do not yet know the projects of Jacob Garlick.
Prior to the auction, the Flatiron Building was owned by a consortium of real estate companies who disagreed on the renovations to be made within the building. A judge decided to put the building up for auction.
