search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomCity Council approves zoning change to greenlight casinosCity Council approves zoning change to greenlight casinosRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
New York

Macklowe lender to foreclose on 1330 Avenue of the Americas

Sign Up for the undefined Newsletter

Canada’s largest pension fund is expected to seize Harry Macklowe’s 1330 Avenue of the Americas tomorrow, and the building will go to a foreclosure auction. Macklowe defaulted on his $130 million mezzanine loan with the fund in January. Macklowe bought 1330 Avenue of the Americas, between 53rd and 54th streets, for $498 million in December 2006, and the building is currently about 31 percent vacant. The sale of the building will be the second foreclosure auction of a U.S. skyscraper in less than a month, following the March 31 sale of the John Hancock Tower in Boston.