Billy Macklowe buys Fifth Avenue co-op for less than $27M ask

Real estate titan and CEO of the investment firm William Macklowe Company Billy Macklowe and his wife, Julie, are signing a contract on a four-bedroom, five-bathroom duplex at 950 Fifth Avenue, at 76th Street, for less than its $27 million asking price, sources told the New York Post. The couple currently live just six blocks north at 1001 Fifth Avenue.

Residents at their new address have included businessmen Mort Zuckerman and Jonathan Tisch — the latter who sold his unit to Starbucks founder Howard Schultz for $24.75 million in 2008 — and the now–imprisoned Tyco boss Dennis Kozlowski.

Macklowe is the son of developer Harry Macklowe, who is currently attempting to build the country’s largest residential tower at 432 Park Avenue. And it was revealed this week that the younger Macklowe has become the landlord of the iconic Bowlmor Lanes. [Post] —Christopher Cameron