A protracted battle over control of one of New York City’s most iconic buildings will finally be settled at auction later this month. A group of developers will hash out their ownership of the Flatiron Building after a State Supreme Court judge ruled a sale could move forward on March 22 at Mannion Auctions.
The auctioneer, Matthew D. Mannion of Mannion Auctions, LLC, confirmed that the sale is public — meaning anyone can bid, and the Flatiron Building is therefore anyone’s to win.
— Hyperallergic
The city’s landmark first skyscraper, designed by Daniel Burnham and Frederick Dinkelberg has sat empty since publishing house Macmillan left the building for greener pastures of FiDi in early 2019. However, the four majority owners of the property aren’t looking to sell, according to quotes they provided to Hyperallergic. “Our plan is hopefully to maintain ownership. We’re going to bid for the 25 percent,” explained GFP Real Estate Chairman Jeffrey Gural.
The minority partner they’re trying to force out, Nathan Silverstein, says it’s a matter of “different viewpoints with people who evidently get upset too quickly.” Gural added that the plan would then be to lease each of the 22 floors individually, adding that his only strategy heading into next week’s auction is to “play it by ear.”
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