The Flatiron Building has been sold at auction — again.
Jeffrey Gural won Tuesday’s auction outside 60 Centre Street in Lower Manhattan with a bid for $161 million.
Gural was part of the Flatiron's ownership group before it went to auction earlier this year.
He said he wants to turn either half or all of the iconic building into apartments.
"I know that there are enough residential tenants that would want an apartment in the Flatiron,” Gural said. “There's probably enough commercial tenants that would want an office there, but residential is easier.”
Gural said he needs a special permit from the city to convert part of the building to residences.
The landmarked building has been empty since 2019 after the last tenant, MacMillan Publishers, left. The company occupied all 21 office floors.
The owners of the building spent nearly $100 million in renovations, but a disagreement among the owners forced a judge to order it to auction at the start of 2023.
During the Flatiron's previous auction in March, Jacob Garlick, a managing partner at a Virginia venture capital firm called Abraham trust, put in the winning bid for $190 million. In a shock to the real estate world, he wasn't able to secure the required 10% down payment, which led to the second auction.
Gural and his ownership group are now suing Garlick for the $19 million down payment as damages for failing to pay.
While Gural said the building still needs extensive repairs, he said the scaffolding around the building could come down in as soon as a couple of months.