The Flatiron, also known as the Fuller Building, one of the most iconic buildings in New York, located at the intersection of Fifth Avenue and Broadway, in the heart of Manhattan, has been sold for 190 million dollars, making it in the biggest real estate bargain in the city.
The buyer is Jacob Garlickfounding partner of the Abraham Trust, a fund specialized in different investment operations and took over the building after going out at public auction. Garlick confessed that owning the building "has been a dream that I've had throughout my life since I was 14 years old. Our mission will always be to respect its integrity." The Flatiron is now considered a building of historical interest, which means that it is protected by special legislation that limits the structural changes that can be made to the property.
The auction, ordered by the New York Supreme Court, ended a dispute between the owners of the Fuller Building, who had kept the building empty for four years. The auction arose as a result of the important need for renovation to avoid its total collapse. Until now, it is not known what their plans are for the property, whether it will be an office building, a hotel or a luxury apartment complex.
The history of the Flatiron
It was built in 1902 and designed by the architect Daniel Burnham in the neoclassical style, with its distinctive triangular shape due to the shape of the plot of land on which it was built. New Yorkers say that the building has the shape of an iron sheet, hence the name.
At the time, the Flatiron was one of the tallest buildings in New York, at 22 floors and 87 meters tall, the first major iron and steel skyscraper in the city. Its construction was a milestone in the history of architecture and a reflection of the rapid growth of New York at the beginning of the 20th century. Since its inauguration, the building has become a center of business and cultural life in the city, housing offices of various companies and apartments for living.
In its 121-year history, the Flatiron has had a wide variety of tenants including
the New York Times and the McMillan Publishers publishing house, which occupied the 21 floors. Also, it is striking that in the 1930s some of the tenants were the mobsters Frank Costello and Al Capone. Already in more recent times Demi Moore owns a triplex valued at 70 million dollars, Sting and Hugh Jackman paid 26.5 million dollars each for their apartments and Jon Bon Jovi sold his in 2015 for 37.5 million dollars. The Flatiron also became known for the Beaux-Arts style restaurant Taverne Louis.
The Flatiron has served as the setting for numerous movies and television shows and will remain one of New York's most iconic and photographed buildings no matter what use it is put to by its most recent owner.
