About a week after a spectacular auction, the sale of the famous “iron building” in New York has finally collapsed. The winner of the auction – a man posing as Jacob Garlick who won the auction with a bid of $190 million after about an hour of bidding – had an initial down payment of $19 million The organizers of the auction informed the German Press Agency on Wednesday that the dollar had not been handed over by the deadline.
This means that his right to purchase the Flatiron Building expires. Now the bidder with the second highest bid – $189.5 million – is allowed to buy the building for this price. If this is rejected, there will be a new auction.
The first auction was ordered by a judge after a dispute broke out between the five previous owners about the future of the building. The real estate companies GFP Real Estate, Newmark, ABS Real Estate Partners and Sorgente Group together owned 75 percent of the building, with real estate developer Nathan Silverstein owning the remaining 25.
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, was opened in 1902 – at the intersection of Broadway, 23rd Street and Fifth Avenue in the middle of Manhattan. Up until a few years ago, Macmillan Publishers rented all 21 floors of the building, and it has been empty since they moved out.
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