The Historic Flatiron Building Up For Auction Again on May 23rd ~ and The Winning Bidder is….. Jeffrey Gural




It appears that the winning bidder is yet to be determined. On March 22nd, on the steps of the Manhattan County Courthouse, the historic Flatiron Building, located at 175 Fifth Avenue, went up for auction. The highest bidder, Jacob Garlick of Abraham Trust, appeared to have won the building with his winning bid of $190 million.

On March 27th it was learned that Mr. Garlick failed to make his 10% downpayment of $19 million…..

Next Auction, May 23, 2023 at 7:30pm on the steps of the New York County Courthouse. And the winner is…..Jeffrey Gural. According to 1010Wins, Gural, chairman of GFP Real Estate, had the winning bid of $161 million. More in The Commercial Observer.

“We accomplished our goal, which is to end our relationship with Nathan Silverstein and own the building 100%,” Gural said. “It’s a relief because for the last 30 years I’ve needed his consent on everything. Sometimes we agreed. Sometimes we didn’t.”

In a quote to NY1 on March 22nd ~ the day of the auction, Jacob Garlick indicated that he was honored to be the steward of this historic building and would make it his life’s mission to preserve its integrity. The entire story reported by NY1.

However, since Jacob Garlic appears to be unable to put down the $19 million deposit, the building could be offered to the second-highest bidder, Jeffrey Gural, with his last bid of $189.5 million ~ or Gural can decline and the historic building would once again hit the steps of the County Courthouse for yet another auction.

Another Auction! May 23rd. Stay tuned.

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