Flatiron Building co-owner sues Newmark, GFP in ongoing dispute over landmark
An owner of a 25 percent tenant-in-common stake in the landmark Flatiron Building at 175 Fifth Avenue, Nathan R. Silverstein, filed a lawsuit yesterday alleging poor leasing strategies by GFP Real Estate and Newmark & Company. This suit comes five months after the the Gural family’s GFP, Sorgente Group and ABS Partners Real Estate, together representing 75 percent of the ownership interests, filed a petition in New York State Supreme court seeking a partition and judicial sale of the property, citing a financially draining stalemate in decision making caused by Silverstein’s competing vision for the building. That suit remains active.