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Macklowe in default 

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The Wall Street Journal reports that developer Harry Macklowe has technically gone into default as he continues negotiating with his lenders. Talks resume today on $5.8 billion in short-term loans that were due Saturday. Macklowe is attempting to prevent foreclosure on seven Manhattan skyscrapers he bought a year ago. He also owes hedge fund Fortress Investment Capital $1.2 billion by tomorrow.