Second Try at Auctioning Off Flatiron Building

This time, the auctioneer is demanding a cash down payment as the bidder who submitted a $190 million offer last time, apparently did not have the funds.

| 24 Apr 2023 | 01:46

The chaotic process of selling the Flatiron Building continues to unfold, with the next auction taking place on May 23rd.

The previous auction ended with the iconic 22-story edifice being sold to little-known Jacob Garlick, who surprised the real estate world with his winning bid of $190 million. However, Garlick then failed to pay up on the designated date to make his deposit, sending the building back into limbo.

Garlick’s reasons for bidding such an exorbitant amount yet failing to deliver are unknown.

Like the previous auction, this one will be run by Matthew Mannion of Mannion Auctions. Mannion told Crain’s New York Business that this time around, the highest bidder will need to present a certified $100,000 check to the auction’s referee in order to seal the deal.

The auction will take place at 2:30pm on May 23rd at 60 Centre Street.