The Flatiron Building, one of the most emblematic skyscrapers in New York, has just been sold at auction this Wednesday, for the modest sum of 190 million dollars, or approximately 177 million euros.
This building, whose construction was completed in 1902, and culminating at 87 meters in height, owes its fame to its very particular pointed shape. Its name “Flatiron” or “Iron” thus derives from this atypical but above all unique architecture. This building could have been given such a shape since it is located at the crossroads between Fifth Avenue and Broadway, the only avenue in Manhattan that is not straight. The sale takes place following irreconcilable disputes between its owners. Indeed, the 5 people sharing this property had not managed to find a compromise regarding the renovation and the future of the building, the justice of the city of New York had therefore explicitly requested that the building be sold.
The lucky winner of the auction is called Jacob Garlick, a financier at the head of the Abraham Trust investment fund. He also spoke on the NY1 television channel: “It’s been a dream since I was 14”. By Friday evening, he will therefore have to pay 10% of the amount, or 19 million dollars, on pain of losing the property, which would then be given to the hands of the second bidder, Jeff Gural. The buyer will then have to pay another 100 million dollars, necessary to carry out the renovation work. The Flatiron had been empty since its last tenant, publisher MacMillan Publishers, left in 2019.
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