The Sorgente Group S.p.A., which now controls just over 50 percent of the building, would not say how much it paid for its share. The value of the 22-story building, which sits on a triangular lot in Manhattan, is estimated to be $190 million.
The Sorgente Group said it will complete payment by June and might increase its stake.
"With this acquisition, Sorgente Group has exceeded 50 percent ownership of the Flatiron property, with further possibilities offering up to 75 percent ownership," Valter Mainetti, managing director of the Sorgente Group, said in a statement.
