Manhattan-based real estate owner Robert Gilardian won a 16-story Upper West Side apartment building tied up in an epic decade-long dispute, with a $20.1 million bid made in a bankruptcy auction in Los Angeles yesterday afternoon.

Gilardian offered the highest price for 114 West 86th Street, beating out three other approved bidders who participated in the live auction in U.S. Bankruptcy Court in Los Angeles, said Lipa Lieberman, a director at Eastern Consolidated, who was present at the sale.

The property sold for a gross rent multiple of about 20, and a price per square foot of about $400, Lieberman said. He said interest had been high since the news broke of the auction on The Real Deal website.
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