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New York

Billy Macklowe buys controlling share of building home to Bowlmor Lanes

Billy Macklowe and Bowlmor Lanes
Billy Macklowe and Bowlmor Lanes

Billy Macklowe has hit a 60,000-square-foot strike with Bowlmor Lanes. According to the  New York Post, Macklowe, CEO of William Macklowe Company, an investment firm, has purchased a long-term controlling position in the building, located at 110 University Place, which besides Bowlmor, houses a GMC garage.

Macklowe acquired control of the property, situated near Union Square, from a partnership group in a complicated “sandwich” lease deal that effectively makes Macklowe the landlord of the building for the next 72 years, sources told the Post.

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The iconic bowling alley has operated in its current location since 1938, and Bensemon Investments has held title to the address since 1976, according to public records.

Sources told the Post that the deal may have been a strategic investment, and that Macklowe may seek to renovate the 125,000-square-foot property. [Post] —Christopher Cameron

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Billy MackloweBowlmor Lanes