The famous “Iron Building” in New York was auctioned for US$ 161 million (about 150 million euros) on the second attempt. After a half-hour wrangle with about half a dozen bidders on the steps of a Manhattan courthouse, auctioneer Matthew Mannion’s gavel fell yesterday on that sum — bid from real estate developer Jeff Gural, who already owns part of the triangular building. .
IMAGO/Anthony Behar
Applause and applause broke out in the audience, the Gural himself also clapped briefly and shook hands with Mannion. “I had no idea what to expect, but it’s such a relief to finally own the whole building,” said Gural shortly afterwards.
At the previous auction, in late March, the real estate developer was beaten: a man who posed as Jacob Garlick and worked as an employee of an investment firm, but had never appeared in New York’s highly competitive real estate scene, walked away with a bid of 190 million dollars emerged as the winner of the auction.
However, he failed to make a down payment of $19 million on time – and his right to purchase expired. For him, Garlick, with whom he maintained contact in the meantime, was a “fraud” and he sued him, said Gural.
Auctions due to disputes between owners
The auctions were ordered by a judge following a dispute between the five previous owners over the building’s future. Property companies GFP Real Estate, Newmark, ABS Real Estate Partners and Provente Group jointly owned 75 percent of the building, with property developer Nathan Silverstein owning the remaining 25 percent.
Once the sale is completed, the full amount of which will be offset against the prior ownership interest, Gural and his partners will be the sole owners of the famous building – minus Silverstein. The triangular Flatiron Building is one of New York’s most popular attractions.
The approximately 90 meter high building, which can also be seen in numerous films and television series, 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 leased all 21 floors of the building, which since moving has been empty and is currently partially built.