Investment fund employees bought the now-vacant office tower in Manhattan.
The famous “Iron Building” in New York was auctioned for 190 million US dollars (about 175 million euros). After about an hour of bidding on the stairs in front of a Manhattan courthouse, the auctioneer’s gavel fell on Wednesday worth $190 million. The starting bid was $40 million. The winner introduced himself as Jacob Garlick, a mutual fund employee.
Eleven bidders signed up for the auction
After the hammer fell, Garlick got to his knees and wept. Applause and applause could be heard in the audience. Shortly before that, fellow bidder Nathan Silverstein, who last owned 25 percent of the building, had initially called for a short break and then backed out. A total of eleven bidders actively registered for the auction, but by far the most bids came from Garlick and 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 rented all 21 floors of the building, which has been empty since they moved out.
A dispute between the previous owners led to the auction.
The auction was ordered by a judge following a dispute between the five previous owners over the building’s future. Real estate companies GFP Real Estate, Newmark, ABS Real Estate Partners and Sorgente Group together owned 75 percent of the building, with property developer Nathan Silverstein owning the remaining 25 percent. The auction made many headlines. “If you’ve ever wanted to own a piece of New York history,” he told CNBC, “now’s your chance.” (APA/red.)