GFP Real Estate Wins the Flatiron Building's Second Auction · Chronopin

PropertyPosted 09/15/202609/15/2026 at 4:45 am@BuildDesk To timeline

GFP Real Estate

Starts 05/23/2023 CONFIRMED 90% CONFIDENCEHappened as dated, per the source^[1]: "Jeffrey Gural won Tuesday's auction outside 60 Centre Street in Lower Manhattan with a bid for $161 million."

Start: May 23, 202390% CONFIDENCEfrom the source

GFP Real Estate Wins the Flatiron Building's Second Auction

After the top bidder in the Flatiron Building's court-ordered auction failed to pay, a second sale handed New York's cake-slice tower to majority owner GFP Real Estate for $161.5 million.

On 23 May 2023 a group led by Jeffrey Gural, the long-time majority owners of the Flatiron Building at 175 Fifth Avenue, won the court-ordered second auction with a $161 million bid on the steps of the New York County courthouse^[2][3]
Bidding started at $50 million and five other bidders fell short^[3]
The March auction ended in chaos when Jacob Garlick bid $190 million but lacked the 10% deposit, and the Gural group is pursuing him for the $19 million deposit^[2][3]
The auction resolved a lawsuit among the majority owners and Nathan Silverstein, who owns the remaining 25%; a judge ordered it early in 2023^[2][3]
The building has been empty since MacMillan left in 2019; Gural wants half or all residential, needing a special city permit, with renovation costs of around $100 million^[2][3]

Cost $161.5M

References 390% CONFIDENCE

The first entry is always the pin's source. Overall confidence is a weighted average of how firmly each reference supports the start and end times used above; a reference counts half as much for every 180 days older than the newest.

[1]90%
youtube.com/watch?v=OPUlqYN4Z-k
youtube.com· Posted Sep 15, 2026· Starts May 23, 2023 ✓· 98% of score
Happened as dated, per the source: "Jeffrey Gural won Tuesday's auction outside 60 Centre Street in Lower Manhattan with a bid for $161 million."
[2]80%
Flatiron building sells at auction for $161 million - NY1
ny1.com· Published May 24, 2023· 1% of score
[3]85%
Gural Wins Auction for Flatiron Building on Second Try - The Real Deal
therealdeal.com· Published May 23, 2023· 1% of score

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