The Real Deal New York

Posts Tagged ‘warren cole’

  • Harry Macklowe and 125 West 55th Street
    Harry Macklowe’s former deputy filed a $21 million lawsuit last month alleging the billionaire real estate mogul failed to share the proceeds from the sale of 125 West 55th Street to Boston Properties. Warren Cole, who worked for Macklowe from 1988 to 1999, filed suit in New York State Supreme Court Jan. 15, alleging Macklowe either kept the profits for himself or paid it to his family members. The complaint was just made available in public records. Macklowe sold the property for $443 million in 2008, according to Cole’s complaint, which noted that the property was saddled with a $200 million mortgage. … [more]

  • Developer Harry Macklowe must pay former top Macklowe Properties executive Warren Cole $6.5 million resulting from a breach of contract lawsuit filed in the fall of 1999. Macklowe, named as an individual, owes Cole $3.4 million for the repayment of loans and an additional $3.1 million in interest related to three Manhattan buildings, according to New York State Supreme Court records filed July 30. A state court justice ruled in February that Cole was owed money, but the exact amount was determined through a ruling July 21 by an appeals court in the Appellate Division, which set the date of the breach of contract as April 1999. Cole, a former president of Macklowe Properties, sued Macklowe in 1999, claiming he was owed millions for equity interests in Manhattan real estate and for the $3.4 million owed because of a deal struck in November 1998. A spokesperson for Macklowe declined to comment. … [more]