Icons also go up for auction. In New York, the famous “Flatiron Building” otherwise known as the “iron” of the Big Apple was sold for 190 million dollars. Designed in 1902 by architects Daniel Burnham and Frederick Dinkelberg in the Beaux-Arts style on a triangular lot, it is one of the most famous buildings in Manhattan, located between 23rd Street, Fifth Avenue and Broadway. Jacob Garlick was awarded, with great joy, the building with such a recognizable and futuristic shape. For about 45 minutes, the real estate heavyweights waged a fierce bidding battle by raising the bid by at least $500,000 at a time. “It’s been my dream since I was 14. I worked every day of my life to conquer it,” said Garlick. “We are honored to be the trustees of this historic building and it will be our life’s mission to preserve its integrity forever.” Small detail, the buyer would have forgotten to pay the 19 million deposit on time, and now the future of the iconic building in the Big Apple seems to be shaky again. Perhaps it will be awarded to the runner-up, Jeff Gural, but it is too early to say.
The iconic building measures 86.9 meters (21 floors, not a record height given the era in which it was designed) and has long been the subject of dispute between its owners. The auction is in fact the last instance proposed by the State Supreme Court to resolve the bitter dispute. In fact, 75% of the New York iron belongs to four real estate companies (GFP Real Estate, Newmark, ABS Real Estate Partners and Sorgente Group) who accuse the fifth shareholder, Nathan Silverstein, of being the cause so the building has remained empty since the last tenant, Macmillan Publishers, which occupied the 21 floors of the triangular structure, moved elsewhere in 2019.
The four companies have tried to dissolve the partnership with Silverstein and force him out of the deal after years of fighting over renovations to the historic property, but in vain. The cause of the long-running controversy is due to the shared ownership of the building, which gives each owner veto power over every important issue. Proceeds from the sale of the property at 175 Fifth Avenue will be divided among the shareholders.
A symbol of the Big Apple
In short, we are about to sell a symbol of the Big Apple which, although it has never been the tallest in the city, has been immortalized by photographers and artists for more than a century due to its scenographic aspect. Among these, the unforgettable shots by Edward Steichen and Alfred Stieglitz, but also the paintings by Albert Gleizes and the impressionist painter Childe Hassam. Without forgetting the various films and television series such as Sex and The City, Friends, I Am Legend, Spider Man, Godzilla (where, however, it is completely destroyed), video games and even comics. Located at the intersection of Fifth Avenue and Broadway, the skyscraper initially inspired strong skepticism among the inhabitants, so much so that the New York Times itself called it a “monstrosity” above all because it was not considered stable enough due to the base of triangular shape, the height, and also because it stuck out at the intersection with two extremely busy thoroughfares.
An architectural jewel
However, when completed, the first high-rise north of 14th Street, built on a limestone and glazed terracotta steel skeleton, with its Renaissance-inspired Beaux-Arts facade, columns, medallions, balustrades, and friezes , soon became a legend. Designed in 1902 to serve as the headquarters of the George A. Fuller Company, with the idea of calling it the Fuller Building, in honor of George Allon Fuller, founder of the company of the same name which, at the time, was the largest construction company in the United States , was purchased in 1925 by the Equitable Life Insurance Company and for many years was the headquarters of many micro enterprises. It was 1959 when St. Martin’s Press moved here and slowly began to expand so much that in 2004 the parent company, Macmillan Publishers, took over all 21 floors of offices in the building. Unfortunately, in 2019 Macmillan decided to leave the offices, to move to the Equitable Building on Lower Broadway, certainly more modern and cheaper.