The seven Manhattan office towers that developer Harry Macklowe bought for $7 billion could soon be put up for sale, as a deal with his creditors is reportedly almost hammered out. Macklowe bought the buildings last year in a highly-leveraged deal, and the short-term debt on them is overdue, forcing him to sell the General Motors Building. Cushman & Wakefield will be marketing Park Avenue Tower and 850 Third Avenue, while Eastdil Secured is marketing Tower 56, 527 Madison Avenue, 1540 Broadway and Worldwide Plaza.
Macklowe’s 7 Manhattan office towers to hit market soon
March 19, 2008 09:42AM
