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From the archives: Macklowe’s bust, one of many over decades
Looking at developers who have gone bust and bounced back, from Trump to Zeckendorf
Whatever befalls beleaguered landlord and developer Harry Macklowe and his property empire, his travails are part of a long line of epic busts in New York City real estate. As he and others before him demonstrate, even Gotham’s biggest builders fall from time to time.
Well-known busts include Rockefeller Center Properties, which was forced to file for bankruptcy in the 1990s when it was owned by the Japanese-based Mitsubishi Estate Company, and Donald Trump, whose entertainment company emerged from bankruptcy in 2005. Read the full story from April 2008 issue.