Iconic New York City landmark, the Flatiron Building, has been sold at an auction for $161 million. Jeffrey Gural, one of the building’s current owners and representing four of them in total, secured the winning bid and expressed his commitment to preserving it. The auction was held to resolve a dispute between all five owners with a previous attempt in March yielding an unsuccessful bid of $190 million.
Gural mentioned that due to Manhattan’s challenging commercial real estate market he may consider converting parts or all of the building into apartments instead. “There are three iconic New York buildings: The Empire State Building, Chrysler Building and Flatiron,” said Gural who also noted that renovation work had already begun on this historic structure prior to its sale.
