Billy Macklowe is launching his first residential project after renovating office buildings for years, nudging into his father and real estate mogul Harry’s territory.
The fast-rising developer has largely set his sights on the commercial real estate market with his 4-year-old property investment firm, William Macklowe Company. But Macklowe now has plans to replace iconic bowling alley Bowlmor, located at 110 University Place in Greenwich Village, with a luxury condominium.
With both Macklowes in the residential market, it’s possible they could compete with each other, according to the Wall Street Journal.
“We could partner together, too,” the young Macklowe told the Journal. His father Harry is best known for building the tallest residential tower in the Western Hemisphere: 432 Park Avenue, which he once called the “culmination” of his career. His son’s projects have been smaller, including the of 386 Park Avenue South — but he’s in no rush for bigger deals, he told the Journal. [WSJ] – Angela Hunt