The size of the offer was unexpected. “I was totally shocked that someone would offer so much money for the building,” Garlick’s contender Jeffrey Gural told Commercial Observer. The real estate entrepreneur expected that only $ 80 million would be offered for the building. “It’s a nice building, but not really worth much.”
At the time of its completion in 1902, the iconic Flatiron Building, literally translated as ‘iron building’, was one of the tallest skyscrapers in the city with a height of 87 meters and 22 floors. As of 2020, it has been vacant due to disagreements over renovations among the various former co-owners. The auction was ordered by a judge.