Toronto's iconic Flatiron building has been sold on Wednesday for more than $15 million.
Commercial Realty Group, led by Clayton Smith, announced it had purchased the historic building on the junction of Wellington and Front streets for $15,290,000.
"The Flatiron Building is a true Canadian icon and it's arguably the heart of the St. Lawrence Market neighbourhood," said Smith in a press release. "I'm eager to preserve its beautiful, historic warmth and to blend it with all the modern comforts and amenities."
Also known as the Gooderham Building, the Flatiron Building was originally built in 1892 by architect David Roberts Jr. for George Gooderham, the former president of the Bank of Toronto.
Gooderham was also the owner of Gooderham and Worts distillery.
The Flatiron has more than 19,000 square feet and it sits at five storeys. The building fell into obscurity during the mid-twentieth century but it was restored and maintained by the late Paul Oberman of Woodcliffe Landmark Properties.
Due to Oberman's efforts, the Flatiron Building has maintained many of its historic features, keeping it one of Canada's most well-preserved architectural icons.
Eve Lewis, president of Woodcliffe Landmark Properties, said that she loves the building and is happy to see it sold to "someone who will respect the building's integrity and retain its heritage."
Brokers and prospective clients are invited to tour the building in January, with a call for offers due on Feb. 8.
