New York City’s iconic Flatiron Building sold at auction last week for $190m after sitting vacant at 175 Fifth Avenue in Manhattan for more than three years. The winning bidder was Jacob Garlick, a relatively unknown name in New York real estate.
However, after successfully making the winning bid, Garlick has reportedly failed to pay the required deposit to close on the 121-year-old building, meaning the building’s fate remains in flux.
