CHASING GIANTS Startup wants to make electric vehicles more accessible to city dwellers PAGE 3
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MAY 29, 2023
GENESIS REALTY GROUP PRINCIPAL JAC ZADRIMA walks through solar panels on the roof of one of his Bronx apartment buildings.
PLUS The most pressing questions about Local Law 97 PAGE 19
INSIDE
Company’s ‘Cozy’ device covers radiators and can reduce a building’s heating cost by 45% PAGE 18
BUCK ENNIS
GREENER BUILDINGS
Owners and managers share strategies for slashing greenhouse gas emissions to comply with Local Law 97 PAGE 15
REAL ESTATE
BY C. J. HUGHES
F
or the second time in two months, the famous Flatiron Building has sold. But this time the winning bidders are familiar faces around the wedge-shaped landmark. A group led by Jeff Gural’s GFP Real Estate, which already controls a majority of the downtown office VOL. 39, NO. 21
building, beat out four other rivals in a May 23 auction with a $161 million bid. It’s the second auction since March for the Fifth Avenue property, which has been convulsed by infighting among its owners and had to be sold on the orders of a judge. At the first auction, a low-key investor from Virginia named Jacob Garlick, virtually unknown in New
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York real estate circles, scored the win with a $190 million bid. But Garlick never paid his 10% deposit, or $19 million, killing the deal. “I feel good, truthfully,” Gural said shortly after the gavel banged down on a podium outside a Lower Manhattan courthouse just before 3 p.m. “I really didn’t know how it See FLATIRON on page 37
A GROUP LED BY Jeff Gural (holding No. 25) beat out four other rivals with its $161 million bid.
GOTHAM GIG
Squire app helps hair salons and barbershops better manage admin work PAGE 39
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BUCK ENNIS
Flatiron property sells for $161M at auction, ending a strange saga
THE LIST
New York’s Largest Publicly Held Companies PAGE 10 5/26/23 3:18 PM