search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffChen family sues bank, contractor for over $3 billionChen family sues bank, contractor for over $3 billionLG Development supersizes Fulton Market apartment projectLG Development supersizes Fulton Market apartment project
New York

As divorce drags on, Harry Macklowe takes aim at his son

He accuses Billy of breaching his fiduciary duties

<em>From left: Harry Macklowe, Billy Macklowe and Linda Macklowe</em>
From left: Harry Macklowe, Billy Macklowe and Linda Macklowe

Harry Macklowe’s divorce is quickly turning into an even bigger family feud.
In new court filings, Macklowe [TRDataCustom], 79, accuses his son, Billy Macklowe, 48, of breaching his fiduciary duties and of “essentially” shutting down his business operations, the New York Post reported. The elder Macklowe filed for divorce from his wife, Linda, in May, leaving her for Patricia Landeau, president of French Friends of the Israel Museum.

The divorce is expected to be a battleground over the couple’s real estate holdings — including 432 Park Avenue — and an art collection estimated to be worth $1 billion.

Sign Up for the undefined Newsletter

Now, Harry Macklowe is also waging a war against his son. The younger Macklowe left his father’s firm in 2010, forming his own business but taking the Macklowe Management name with him. His father now alleges that the agreement to break off from his company was “obtained through duress” and “undue influence.” He also accuses his son of seizing control of the domain names HMacklowe.com and Macklowe.com.

A source close to Billy Macklowe told the newspaper that he’s been operating Macklowe.com on behalf of his and his father’s companies for six years.

“This is a vindictive move by Harry because Billy has sided with his mother in the divorce. Harry is not just divorcing Linda, he’s divorcing Billy,” the source told the Post. [NYP] — Kathryn Brenzel

Tags
Billy MackloweHarry Macklowe