Harry Macklowe | The Real Deal New York

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Harry Macklowe

Founder|Chairman
Macklowe Properties
767 Fifth Avenue
New York, NY 10153
(212) 265-5900
Website
Harry Macklowe
No developer gambled on real estate during the last boom like Harry Macklowe, chairman of Macklowe Properties, and no other developer sustained losses as spectacular. In 2003, Macklowe paid $1.4 billion to buy the GM Building, a record-breaking purchase that was eclipsed a few years later by his $7 billion acquisition of seven Midtown office buildings. The latter investment went south in 2008, when Macklowe defaulted on a $5.8 billion loan associated with the deal, and lenders assumed control of the buildings. Later that year Macklowe was also forced to sell the GM Building and three other towers. In 2010, his son, Billy Macklowe, severed professional ties with him. While Macklowe saw the lion's share of his portfolio disappear, by 2011 he was staging the beginnings of a comeback. His most recent post-turmoil projects include the 432 Park Avenue luxury condo. Born in New Rochelle, N.Y., Macklowe attended the University of Alabama, New York University and the School of Visual Arts before dropping out to enter real estate. He founded his eponymous firm in 1960.  -TA
WitkoffParkLanefbox
01/28/16
Developer Steve Witkoff is hitting the brakes on plans to convert the Park Lane Hotel into luxury condominiums. Instead, the developer and his partners, including Harry...
Tower 56, Location: New York, NY, Architect: N/A. This is the description of this image.
01/21/16
A Manhattan-based father and daughter construction team allegedly cheated subcontractors and a client out of more than $800,000. Anthony Rotondaro, 59, and his daughter Jamie...
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01/20/16
Harry Macklowe’s $1.5 billion residential conversion at One Wall Street won’t be held up by any musty history buffs. Tags: Harry Macklowe, macklowe properties, one...
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01/13/16
All-cash purchases of luxury apartments by anonymous shell companies, increasingly common in high-end real estate deals, may soon be a thing of the past. Tags:...
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01/13/16
UPDATED, Jan. 13, 4:15 p.m.: MHP Real Estate Services is in contract to buy 850 Third Avenue, a 614,000-square-foot Midtown East office building, for $460 million. The seller,...
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01/12/16
Stock brokers need kale too. At least Harry Macklowe seems to think so. Tags: Harry Macklowe, one wall street, whole foods ...
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01/09/16
Harry Macklowe is probably sighing with satisfaction now that his pencil-thin super tower at 432 Park has closed its inaugural sale. Tags: 432 park avenue...
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12/30/15
Gary Barnett’s Extell Development is finally seeking help from outside brokerage firms to unload some of the remaining condominium units at One57. Tags: extell development,...
macklowe
12/09/15
Billy Macklowe’s William Macklowe Company and a subsidiary of Iowa-based Principal Financial Group acquired a 14-story office building in Hell’s Kitchen from Atlas Capital Group...
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12/08/15
You can’t make this up. Cosmetics giant Estee Lauder Companies has reportedly brought in CBRE to advise it on whether it should remain at its longtime headquarters,...
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11/20/15
More drama in the lives of the well-heeled. Shoe mogul Steve Madden’s ex-wife Wendy has forked over $9.5 million for her ex’s share of their...
Swigs
11/20/15
It’s a question that comes up in most divorces: Who gets the house? In the case of the Swigs, a $22.5 million apartment was on...
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11/18/15
Has Charles Cohen’s patience finally paid off? After rejecting several previous suitors, the developer inked a lease with Saks OFF 5th, the lower-priced version of Saks...
11/12/15
The high profile spoils of Kent and Elizabeth Swig’s messy divorce are up for grabs once again. Elizabeth, daughter of real estate bigwig Harry Macklowe,...
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11/10/15
There may be fewer buyers of full-floor, $50-million-plus units at CIM Group and Macklowe Properties’s 432 Park Avenue than the developers anticipated. In the face of...
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11/09/15
From the November issue: Defaulting on a real estate loan can be ugly. But how a borrower defaults can determine whether they can maintain their...
Bowlmor Macklowe
11/06/15
Billy Macklowe’s luxury condo project on the former site of Bowlmor lanes in Greenwich Village took a step forward this week, with the developer securing a...
Nussbaum Zell
11/05/15
UPDATED, Nov. 10, 10:33 a.m.: Slate Property Group and GreenOak Real Estate are in contract to buy the RiverTower in Midtown from Equity Residential for $390...
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11/04/15
Residential developers focused their activity on smaller projects outside of Manhattan this October, with permit activity heavily concentrated in Brooklyn. The three tallest residential plans filed...
The-Bronx
11/02/15
A borough long associated with arson is on fire in an entirely different way. The Real Deal voyaged to the Bronx, to explore a once-overlooked...
Rendering
10/30/15
Harry Macklowe’s Macklowe Properties has finally made it official, filing a permit application for its residential conversion of One Wall Street. Tags: Harry Macklowe, macklowe...
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10/05/15
From the October issue: By today’s standards, Harry Macklowe’s Metropolitan Tower on West 57th Street seems quaint. The early 1980s-era building stands 716 feet tall; its...
Hamza Al Kholi
09/30/15
A Saudi investor is suing Harry Macklowe’s Macklowe Properties, claiming he was cut out of a joint venture agreement to acquire the retail portion of...
Jon Gray Kathleen McCarthy
09/25/15
With 6 million square feet of office space in the works at Hudson Yards alone, more and more investors are ringing the alarm bells over...
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09/18/15
Tory Burch is being sued by landlord Herbert Moskowitz, who alleges construction on the fashion designer’s four-story flagship store at 151 Mercer Street in Soho caused...
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Macklowe Properties
767 Fifth Avenue, New York, NY, 212-265-5900
John Sjolund has a tall order, working for Macklowe Properties, as senior project...
Macklowe Properties, Vice President, Marketing
767 Fifth Avenue, New York, NY, 212-265-5900
When it comes to some of the most sought-after or recognizable properties in...
Macklowe Properties, Vice President, Capital Markets & Acquisitions
767 Fifth Avenue, New York, NY, 212-265-5900
Paul Anthony DiCarlo is vice president for capital markets & acquisitions at Macklowe...
Macklowe Properties, Vice President, Sales
767 Fifth Avenue, New York, NY, 212-265-5900
Barbara Russo is vice president of sales at Macklowe Properties, where she has...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-554-5865
As executive vice president of construction, Freed will handle much of the new...
Macklowe Properties, General Counsel
767 Fifth Avenue, New York, NY, 212-554-5865
Robin Cass Kelly has been with Macklowe Properties since 1994, first as a...
Macklowe Properties, Vice President, Sales and Marketing
767 Fifth Avenue, New York, NY, 212-554-5816
Richard Wallgren is executive vice president of sales and marketing at Macklowe Properties,...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-265-5900
Donato Settanni has worked on many high-profile construction projects. As project manager at...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-554-5865
Richard Dubrow is used to wearing many hats. As director of marketing at...
  • Event Financing
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 350,000
  • Publication Date 04/01/2008
  • Event Date 02/21/2008
  • Party 1 Harry Macklowe
  • Party 2 Union Labor Life Insurance Company, Deutsche Bank
notes
A $330 million construction loan was provided for the development. The financing paid off a $120 million predevelopment loan on the project, which had been in default since December 2007. Union Labor Life Insurance Company provided $267 million in primary financing, and Deutsche Bank provided a $63 million junior loan. 30-story office building.
  • Event Sales
  • Address 1330 Sixth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 522,000
  • Price $ 498,000,000
  • Price per foot $ 954.00
notes
Macklowe acquired the office tower for $498 million, or $954 per square foot. Reports indicate that as much as 40 percent of the property could hit the market this year for leasing.
  • Event Sales
  • Address 737 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 360,000,000
  • Publication Date 09/01/2011
  • Event Date 07/23/2011
  • Party 1 Katz family
  • Party 1 Brokerage JLL
  • Party 2 Harry Macklowe
  • Party 2 Brokerage The Carlton Group
notes
The rental building sold for $360 million. The price includes capitalization, financing and other related costs. CIM Group is believed to be an investment partner in the deal, the New York Post reported.
  • Event Sales
  • Building Name Driveake Swissotel
  • Address 440 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 440,000,000
  • Publication Date 03/01/2006
  • Event Date 01/20/2006
  • Party 2 Harry Macklowe, Macklowe Organization
notes
The property, which includes air rights for a structure of nearly 70 stories, went into contract for approximately $440 million. It will be torn down to make room for luxury condos.
  • Event Sales
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 350,000
  • Price $ 280,500,000
notes
Boston Properties agreed to purchase the building for $280.5 million. As part of the agreement, Macklowe will serve as project consultant and co-chairman of the marketing and leasing advisory committee. CB Richard Ellis will continue to manage leasing at the property.
  • Event Sales
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2
notes
Macklowe bought out the interest of his partner Jamestown for an undisclosed price, gaining sole ownership of the building for the first time. The building is now valued at approximately $3 billion.
  • Event Sales
  • Address 150 East 72nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 70,000,000
  • Publication Date 08/01/2011
  • Event Date 06/22/2011
  • Party 2 Harry Macklowe
  • Party 2 Brokerage The Carlton Group
  • Party 2 Broker Howard Michaels
notes
The rental building sold for $70 million.
  • Event Retail Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 7,500
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 1 Harry Macklowe
  • Party 1 Brokerage In-house
  • Party 2 Chase
  • Party 2 Brokerage Ripco Real Estate
  • Party 2 Broker Gary Trock, Andrew Mandell
notes
Bank takes retail space on the Madison Avenue side of the building.

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unnamed (6) thumb
11/04/15
Residential developers focused their activity on smaller projects outside of Manhattan this October, with permit activity heavily concentrated in Brooklyn. The three tallest residential plans filed...

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