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Flatiron Building’s TIC Owners File for Partition Sale
Four of the five Tenants in Common owners of the historic Flatiron Building at 175 Fifth Ave., represented by Jeffrey Gural, Gregg Schenker and Sorgente Group of America, filed a petition with New York State Supreme Court Friday for a partition sale of the property. The proceeding is statutorily available and employed to resolve disputes among TIC owners.
The landmarked 22-story office building is currently undergoing a comprehensive restoration and update, commenced upon the recent relocation of longtime tenant Macmillan Publishers and with full Landmarks Preservation Committee approval.
“We are committed to continuing the building improvement work, which is well under way and bringing a new life to the nearly 120-year-old iconic jewel of a building,” Gural said.
“The leasing program has launched, and tenant response has been all we hoped; everyone loves the Flatiron,” said Mary Ann Tighe, CBRE CEO of Tri-State Region, who is leading the leasing campaign.
- ◦Sale/Acquisition
