Broadway Partners races to unload its trophy towers

By Adam Piore | October 10, 2008 01:51PM


From the October issue:
Scott Lawlor once told a reporter he measured the success of his firm Broadway Partners largely on its ability to find new assets. Today, the survival of his firm depends on its ability to sell them. With hundreds of millions of dollars in short-term debt coming due in January, Lawlor’s private equity firm has emerged as the latest poster child for overleveraged post-boom distress. Now that Harry Macklowe’s goose has been cooked, it’s Broadway’s nationwide effort to unload trophy office towers that has become the real estate saga du jour.


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