Last month, developer Harry Macklowe took the stand at his divorce trial.
His wife of 58 years, Linda, did not play a significant role in building his empire, he told the court. “My wife was my wife, but she played no role in assembling the buildings,” he said, to which Linda loudly scoffed.
The Macklowes’ $2 billion divorce trial — which involves some of the city’s most famous buildings — has captivated the tabloids. The Real Deal has closely followed the trial, and for our cover story, “Macklowe vs. Macklowe,” we take a forensic look at the divorce, and the fortune that is being divided. We break down the financial assets that have been laid bare throughout the trial, and look at what a division may mean for the Macklowe empire.
Meanwhile, we look at how the New York City Housing Authority is dealing with its $17 billion backlog, and how its head Shola Olatoye is spending more time at the table with New York real estate players. We also look at Ashkenazy Acquisition Corporation’s recent stake purchase at The Plaza Hotel.
We examine the challenged luxury condominium market, and ask what Newmark Frank Knight’s initial public offering could mean for commercial brokerages. We also look at how Doug Harmon and Adam Spies are performing since their jump to Cushman & Wakefield.
To read the November issue of TRD, click here or on the “Magazine” tab on the top left of the homepage. Enjoy! — Miriam Hall