The Real Deal New York

No real spark from Macklowe resales

October 10, 2008 06:49PM
By David Jones

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From the October issue: As the sell-off of Harry Macklowe’s Midtown portfolio moves into the final phase, the industry is assessing what impact, if any, it will have on New York’s commercial real estate market. Industry watchers had hoped the sales of Macklowe’s former assets — which were seized in February by Deutsche Bank after the highly leveraged real estate mogul defaulted on nearly $7 billion in loans — would revive what had been a dormant commercial real estate market here.

 

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