A protracted battle over control of one of New York City’s most iconic buildings will finally be settled at auction later this month. A group of developers will hash out their ownership of the Flatiron Building after a State Supreme Court judge ruled a sale could move forward on March 22 at Mannion Auctions.

Four real estate firms collectively own 75% stake in the 22-story steel-frame skyscraper, while a fifth partner, Nathan Silverstein, owns a 25% stake. GFP Real Estate, Newmark, ABS Real Estate Partners, and the Sorgente Group are angling to dissolve the partnership with Silverstein and force him out of the deal after years of clashes over renovations at the landmarked property.

The four owners sued Silverstein in 2021 to force a partition sale of their stakes, arguing that his business decisions kept the building empty. Silverstein in turn sued Newmark for attempting to lease the building to Knotel, a Newmark-owned flexible office company, for a below-market price. The building remains empty after its last tenant, Macmillan Publishers, moved out in 2019.

The proceeds of the sale of the property at 175 Fifth Avenue will be split among the partners. An opening bid has not yet been set. The auctioneer, Matthew D. Mannion of Mannion Auctions, LLC, confirmed that the sale is public — meaning anyone can bid, and the Flatiron Building is therefore anyone’s to win.

But the majority owners are angling to hold on to the historic structure.

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