Home » today » News » Flatiron, New York’s iconic building, sold for $190 million via auction- ClassPaper.

Flatiron, New York’s iconic building, sold for $190 million via auction- ClassPaper.

In the corner of the Fifth Avenue and 23rd Street is the iconic construction of the city that never sleeps. Also known as the Fuller Building (after George A. Fuller, who financed it), the Flatirondesigned in 1902 by the American architect Daniel Burnham (September 4, 1846, New York, United States – June 1, 1912, Heidelberg, Germany), is famous for its distinctive triangular shape and style. Beaux-Artsa popular style of the early 20th century that combined classical elements with ornamental and sculptural details.

George A. Fullera prominent real estate developer, bought the land in 1901 to house the headquarters of Fuller & Company, his advertising company, and hired Burnham – who had already designed the World’s Columbian Exposition in Chicago in 1893 – to build a work that would stand out in that privileged location and become one of the first skyscrapers in Manhattan. This presented an interesting architectural challenge, as a special design was required to fit the shape of the plot.

The historic Flatiron Building, located at the intersection of Fifth Avenue and Broadway in Manhattan. Its shape presents unique architectural challenges, such as the fact that the back of it is only two meters wide. The facade is composed of red brick and terracotta, and has numerous windows on each of the floors.

Its innovative design allowed it to be built in a location many thought impossible, while allowing natural light to enter all the offices in the building, something that was rare at the time it was built. His Steel structure made it possible to rise to a height of 87 metrosin addition to having a series of stepped terraces that provide an interesting contrast with the angular shape of the terracotta facade (a light but resistant material). It also has ornamental decorative elements, such as floral motifs and allegorical figures. The 22 floors of the building they house a wide variety of offices, as well as shops and restaurants on the ground floor. The main entrance stands out for its marble and bronze hall.

Today it is one of the most photographed and recognized buildings in the world, continues being a popular tourist destination. has also been setting for countless movies and TV shows, magazines or billboards, and has become an iconic symbol of New York City around the world. Some of the best known are Godzilla (1998), Armageddon (1998), Spider-Man (2002), Autumn in New York (2000) o The bone Collector (1999). Among the series are Mad Men o Gossip Girl.

One of the most distinctive features is its angled corner, which is located at the intersection of Fifth Avenue and Broadway. It is easily recognizable by its unique triangular shape, which resembles a clothes iron (hence its name).

The building It was put up for public auction on March 22 by the American house Mannion Auctions, specializing in the sale of collectible and rare objects, such as old coins, bills, medals, autographs, books and other objects of historical value. The purpose of the sale was to end the dispute that exists between its five current ownersafter a judge of the Supreme Court of the State of New York admitted the lawsuit of several of them (of GFP Real Estate, Sorgente Group, ABS Real Estate Partners and Newmark, which own 75% of the property), in litigation since 2019 with businessman Nathan Silverstein.

Since the summer of that same year, its interior remains empty, since the parties were unable to agree on a business plan for renting the space. In addition, there were disagreements on an $80 million renovation that included changes to the exterior and lobby, as well as the installation of new elevators. The reason was that Silverstein claimed that construction costs are inflated. Finally, the courts approved last January that the building was auctioned in order that the collection is divided between the parties in an aliquot manner to the fraction they own.

The buyer is Jacob Garlick, founding partner of Abraham Trust, a fund specializing in investment operations, who, after completing the sale, declared on television NY1: “It has been a dream that I have had my whole life since I was 14 years old. Our mission will be to respect its historical and architectural integrity”.

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