The court-appointed referee for the auction of the Flatiron Building told GlobeSt. on Tuesday that Jacob Garlick "defaulted" on his $190M bid for the iconic tower when he failed to deliver a 10% deposit for the building two days after the March 22 auction.
Court-appointed referee Peter Axelrod of the Axelrod, Fingerhut & Dennis law firm told us Garlick is no longer eligible to claim the building by delivering either the $19M deposit or his $190M bid price.
"He defaulted, so no, we can't do that at this point," Axelrod told GlobeSt.
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