Macklowe’s Midtown towers for sale

April 08, 2008 08:36AM

The seven former Equity Office buildings that struggling developer Harry Macklowe bought for $7 billion last year have started hitting the market. Eastdil Secured is marketing the 1.76-million-square-foot 1301 Sixth Avenue, also known as the Credit Lynonnais Building. Cushman & Wakefield’s Richard Baxter, Ron Cohen, Scott Latham and Jon Caplan are marketing the smallest of the Macklowe-Equity buildings as a package. The price tag for 850 Third Avenue and the Park Avenue Tower at 65 East 55th Street could be $1 billion to $1.2 billion. Macklowe’s short-term debt to Deutsche Bank for the seven towers is past due. Deutsche Bank is offering financing for the properties to make sure the deals get done. 


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