Harry Macklowe | The Real Deal New York

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Harry Macklowe

Founder|Chairman
Macklowe Properties
767 Fifth Avenue
New York, NY 10153
(212) 265-5900
Website
Harry Macklowe

No developer gambled on real estate during the last boom like Harry Macklowe, chairman of Macklowe Properties, and no other developer sustained losses as spectacular.

In 2003, Macklowe paid $1.4 billion to buy the GM Building, a record-breaking purchase that was eclipsed a few years later by his $7 billion acquisition of seven Midtown office buildings. The latter investment went south in 2008, when Macklowe defaulted on a $5.8 billion loan associated with the deal, and lenders assumed control of the buildings.

Later that year, Macklowe was also forced to sell the GM Building and three other towers. In 2010, his son, Billy Macklowe, severed professional ties with him.

While Macklowe saw the lion's share of his portfolio disappear, by 2011 he was staging the beginnings of a comeback. His most recent post-turmoil projects include the 432 Park Avenue luxury condo.

Born in New Rochelle, N.Y., Macklowe attended the University of Alabama, New York University and the School of Visual Arts before dropping out to enter real estate. He founded his eponymous firm in 1960.


01/23/17
An indoor waterfall can be a neat penthouse amenity — less so if it’s caused by a burst pipe. The mystery buyer of a $46.25...

01/20/17
...East 45th Street and Harry Macklowe (Credit: Getty Images) Meyer Equities is suing Harry Macklowe over...

01/13/17
From the January issue’s “In their words” feature, a roundup of the funniest and most insightful comments on real estate: To read other smart and/or funny...

01/12/17
...From left: Harry Macklowe, 432 Park, Shaul Kuba (credit: DBOX for CIM/Macklowe Properties and...

01/04/17
...From left: 432 Park Avenue, Harry Macklowe and Hamza Al Kholi (credit: DBOX for CIM Group/Macklowe...

12/28/16
...Harry Macklowe and 150 East 72nd Street Residents of Harry Macklowe’s condo conversion at 150 East 72nd Street are very unhappy...

Harry Macklowe
12/27/16
...Renderings of 200 East 59th Street Harry Macklowe obtained a $116 million construction loan from Singapore’s United Overseas...

12/21/16
...The GM Building's Plaza and 5 East 59th Street Harry Macklowe famously transformed Fifth Avenue retail when he brought the Apple...

12/20/16
...th Street UPDATED: Dec. 20, 6:35 p.m.: A decade after developer Harry Macklowe acquired the site for 432 Park Avenue, sales at the supertall...

12/19/16
It’s not until a project is almost entirely constructed that we can really envision a new building, complex or tower’s place in the neighborhood. A...

12/14/16
Average apartment prices in Manhattan hit a record of $2.2 million in 2016, thanks in part to closings at ultra-luxury condominiums such as 432 Park...

12/13/16
The meaning of the three letters in CIM Group’s name is one of real estate’s best-kept secrets. But it might as well stand for Condos...

12/02/16
Billy Macklowe With condo prices slipping at the top end of the market and the potential impact of the presidential election confounding brokers and experts...

11/21/16
...will thrive under Trump, experts say 5. As divorce drags on, Harry Macklowe takes aim at his son...

11/18/16
...From left: Harry Macklowe, Billy Macklowe and Linda Macklowe Harry Macklowe...

Macklowe One Wall Street thumb
11/17/16
...Center (credit: DBOX), a rendering of One Wall Street and Harry Macklowe When Rupert Murdoch ditched 2 World Trade Center, it threw the...

11/03/16
For Robin Schneiderman, winning new assignments is all about the money. But not the money going into his pocket. Schneiderman, of Halstead Property Development Marketing,...

11/02/16
Time will tell if Donald Trump will get the numbers he wants in the presidential election. His buildings in New York City, on the other...

11/01/16
“Don’t be jerky,” Steven Roth told Gary Barnett. “It’s not even close.” Sitting among other industry titans at Bloomberg LP’s headquarters last spring, Roth was...

10/08/16
...the 400 wealthiest Americans (he’s tied with Jerry Speyer and Harry Macklowe, among others). He won approval last month to transform the...

10/07/16
On Thursday afternoon, Eastdil Secured CEO Roy March received the industry’s equivalent of the 3 a.m. phone call. On the line were his star brokers...

09/30/16
...From left: Gary Barnett and One57, Stephen Ross, Harry Macklowe and 432 Park Avenue From the September issue: Residential condo development...

09/27/16
It’s curtains for an interior designer and other tenants at the Feil Organization’s office building at 140 West 57th Street, which insiders speculate is heading...

09/16/16
...Previous proposed rendering of One Wall Street and Harry Macklowe Is Macklowe Properties looking to limit its exposure to the...

09/13/16
Its aging office buildings are struggling with rising vacancies and competition from new developments at Hudson Yards. And even the seemingly invincible luxury market is having...
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Macklowe Properties, Associate Broker
767 Fifth Avenue, 21st Floor, New York, NY, (212) 265-5900
...
Macklowe Properties, Associate Broker
767 Fifth Avenue, 21st Floor, New York, NY, (212) 265-5900
...
Macklowe Properties, Associate Broker
767 Fifth Avenue, 21st Floor, New York, NY, (212) 265-5900
...
Macklowe Properties, Limited Liability Broker
126 East 56th Street, New York, NY, (212) 265-5900
...
Macklowe Properties, Real Estate Salesperson
126 East 56th Street, New York, NY, (212) 265-5900
...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-265-5900
John Sjolund has a tall order, working for Macklowe Properties, as senior project...
Macklowe Properties, Vice President, Marketing
767 Fifth Avenue, New York, NY, 212-265-5900
When it comes to some of the most sought-after or recognizable properties in...
Macklowe Properties, Vice President, Capital Markets & Acquisitions
767 Fifth Avenue, New York, NY, 212-265-5900
Paul Anthony DiCarlo is vice president for capital markets & acquisitions at Macklowe...
Macklowe Properties, Vice President, Sales
767 Fifth Avenue, New York, NY, 212-265-5900
Barbara Russo is vice president of sales at Macklowe Properties, where she has...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-554-5865
As executive vice president of construction, Freed will handle much of the new...
Macklowe Properties, General Counsel
767 Fifth Avenue, New York, NY, 212-554-5865
Robin Cass Kelly has been with Macklowe Properties since 1994, first as a...
Macklowe Properties, Vice President, Sales and Marketing
767 Fifth Avenue, New York, NY, 212-554-5816
Richard Wallgren is executive vice president of sales and marketing at Macklowe Properties,...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-265-5900
Donato Settanni has worked on many high-profile construction projects. As project manager at...
Macklowe Properties
767 Fifth Avenue, New York, NY, 212-554-5865
Richard Dubrow is used to wearing many hats. As director of marketing at...
  • Event Sales
  • Address 737 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 360,000,000
  • Publication Date 09/01/2011
  • Event Date 07/23/2011
  • Party 1 Katz family
  • Party 1 Brokerage JLL
  • Party 2 Harry Macklowe
  • Party 2 Brokerage The Carlton Group
notes
The rental building sold for $360 million. The price includes capitalization, financing and other related costs. CIM Group is believed to be an investment partner in the deal, the New York Post reported.
  • Event Sales
  • Address 150 East 72nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 70,000,000
notes
The rental building sold for $70 million.
  • Event Sales
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 350,000
  • Price $ 280,500,000
  • Price per foot $ 801.43
notes
Boston Properties agreed to purchase the building for $280.5 million. As part of the agreement, Macklowe will serve as project consultant and co-chairman of the marketing and leasing advisory committee. CB Richard Ellis will continue to manage leasing at the property.
  • Event Financing
  • Address 510 Madison Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 350,000
notes
A $330 million construction loan was provided for the development. The financing paid off a $120 million predevelopment loan on the project, which had been in default since December 2007. Union Labor Life Insurance Company provided $267 million in primary financing, and Deutsche Bank provided a $63 million junior loan. 30-story office building.
  • Event Sales
  • Address 1330 Sixth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 522,000
  • Price $ 498,000,000
  • Price per foot $ 954.02
notes
Macklowe acquired the office tower for $498 million, or $954 per square foot. Reports indicate that as much as 40 percent of the property could hit the market this year for leasing.
  • Event Sales
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,000,000
  • Price $ 3,000,000,000
  • Price per foot $ 1,500.00
notes
Macklowe bought out the interest of his partner Jamestown for an undisclosed price, gaining sole ownership of the building for the first time. The building is now valued at approximately $3 billion.
  • Event Sales
  • Building Name Driveake Swissotel
  • Address 440 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 440,000,000
  • Publication Date 03/01/2006
  • Event Date 01/20/2006
  • Party 2 Harry Macklowe, Macklowe Organization
notes
The property, which includes air rights for a structure of nearly 70 stories, went into contract for approximately $440 million. It will be torn down to make room for luxury condos.
  • Event Retail Leasing
  • Building Name GM Building
  • Address 767 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 7,500
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 1 Harry Macklowe
  • Party 1 Brokerage In-house
  • Party 2 Chase
  • Party 2 Brokerage Ripco Real Estate
  • Party 2 Broker Gary Trock, Andrew Mandell
notes
Bank takes retail space on the Madison Avenue side of the building.

12/20/16
UPDATED: Dec. 20, 6:35 p.m.: A decade after developer Harry Macklowe acquired the site for 432 Park Avenue, sales at the supertall condo tower dominated...

11/04/15
Residential developers focused their activity on smaller projects outside of Manhattan this October, with permit activity heavily concentrated in Brooklyn. The three tallest residential plans filed...
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