Self-described “hedge fund chick” Julie Macklowe’s outfit at the Whitney Museum Gala on Monday, Oct. 19, consisted of the following: a blue and black minidress with textured bodice and leather skirt, otherwise known as Look 17 of Rodarte’s fall ’09 collection; thigh-high Louis Vuitton leather boots with zippers up the sides, identical to the pair Read More
Good-bye to all that.
Last week’s news that a deal had been cut for the sale of Worldwide Plaza marks the coda of Harry Macklowe’s investment adventure. It began in the heady days of early 2007, when his Macklowe Properties—and various lenders—bought seven Manhattan towers via Blackstone and Sam Zell’s Equity Office Portfolio for Read More
In an apparent effort to raise cash, the struggling iStar Financial has put its $224 million Drake Hotel site mortgage on the block, according to a knowledgeable source.
“They’re a mortgage REIT and they need cash,” said the source. “The development is not going anywhere today. It’s in default. It’s not paying interest currently.” Read More
“The rest of the country looks upon New York like we’re left-wing, Communist, Jewish, homosexual pornographers. I think of us that way sometimes and I live here.”
That was Alvy Singer in Woody Allen’s Annie Hall. And he knew what he was talking about. Even the developers here lean liberal! Our evidence? The recent campaign Read More
"Serves them right for tearing down such a wonderful hotel to build another ugly residential property." ["Deutsche Sues to Foreclose on Macklowe's Drake Hotel Site"] Read More
Billy Macklowe may have deposed his father, Harry, and their overleveraged troubles may have become yet another chapter in the New York City’s rich history of fortunes won, fortunes lost and fortunes just barely rescued, but the detritus of the Macklowe midtown empire lives on in a state of purgatory.
Nary a peep has Read More
In the wake of his father Harry’s near disastrous over-leveraging of the family business, Billy Macklowe has officially been named Macklowe Properties’ new chairman and CEO. He has been working with his father since 1992, after a stint as a real estate finance analyst for Manufactures Hanover.
His father Harry has been named Chairman Emeritus Read More
Billy Macklowe, president of Macklowe Properties since 2002, is expected in the next few weeks to succeed his father as chairman of the firm, according to the Wall Street Journal this morning.
The succession, not entirely voluntary on Harry’s part, is fallout from the nearly $4 billion deal cut over the weekend Read More
It’s been almost one full week since the news broke that Macklowe Properties was marketing the GM Building at 767 Fifth Avenue, arguably the most valuable building on Earth.
We couldn’t help but dig up something that Billy Macklowe said to The Observer‘s John Koblin back in February, after he and his father Read More
The Macklowes are considering a plan to sell a few towers from their massive seven-building portfolio buy in February.
Billy Macklowe told Crain’s this week that when he and father Harry bought the portfolio they “always considered an exit,” which could take the form of finding a financial Read More