Macklowe’s Tower 56 to sell for $160M

Tower 56 at 126 East 56th Street, one of several Macklowe Properties’ Midtown office towers on the market, is reportedly in contract to Chicago-based Transwestern Investment Company for $160 million, or $925 per square foot. Transwestern left the city in 2005 after selling 28 West 44th Street. It sold another property, 360 Madison Avenue, in 2003.