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The famous Flatiron Building in New York is auctioned for $ 190 million


New York’s iconic Flatiron Building – famous for its thin, triangular shape – has been sold at auction for $190 million following a court order.

Built in 1902 and often said to resemble an iron, the 22-story skyscraper fetched nearly four times its opening price of $50 million after a fierce bidding war.

“It’s been my lifelong dream of mine since I was 14 years old,” winner Jacob Garlick, managing partner at the investment fund Abraham Trust, told NY 1 TV station.

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Garlick has not said what he plans to do with the landmark building, the channel added.

The Flatiron – which spans Fifth Avenue, Broadway and East 22nd Street in Manhattan – has been empty since 2019, when the last tenant, MacMillian Publishers, moved out.

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Prior to the auction, the building was owned by a consortium of real estate companies that disagreed over renovations and future occupants.

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After a lawsuit and counter-trial between the parties, a judge ordered them to place the building on the auction block.

Mannion Auctions’ Matthew Mannion, who led Wednesday’s auction, told AFP Garlick must pay 10 percent before closing on Friday or the building will be awarded to the second-highest bidder.

This story was published from an agency news agency with no edits to the text. Only the headline has been changed.

Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.