Iconic New York City landmark, the Flatiron Building, was sold at an auction for $161 million to Jeffrey Gural. Representing four of the five owners, Gural secured the winning bid and expressed his commitment to preserving this iconic building. The auction was held in order to resolve a dispute between owners and followed a previous unsuccessful attempt in March that yielded a bid of $190 million.
Gural mentioned potential plans for conversion into apartments either partially or entirely due to Manhattan’s challenging commercial real estate market. “There are three iconic New York buildings: The Empire State, Chrysler and Flatiron Building,” said Gural who has been overseeing renovation work on it recently as well.
