It’s not everyday one of New York’s most iconic landmarks is up for public auction.
And yet, two months after an eye-popping $190 million offer won Jacob Garlick the Flatiron Building in a bidding war outside a Manhattan courthouse, the 121-year-old building is back up for sale.
Crain’s New York reports the building recognizable by its triangle shape is going up for auction once again on May 23.
Garlick shocked the real estate world when he made the winning bid at the March auction, even beating out the current owners who reportedly sought to retain the building.
But when it came time to pay up, the highest bidder allegedly failed to cough up the $19 million deposit necessary to keep the building. He’s now reportedly facing a lawsuit several months later.
The Flatiron Building has sat empty for about four years since its last tenants vacated in 2019. Jeff Gural, one of the building’s owners, told The New York Times it’s been gutted and wouldn’t be a suitable home for incoming migrants — an inquiry apparently posed by the city, which has been scrambling to get its hands on more property.
Interested bidders looking for a second chance to scoop up the Flatiron Building will have to prove they’ve got the money to back up their bid. The May auction reportedly requires bidders have a $100,000 check ready to hand over.
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