William Macklowe reportedly plans to replace Bowlmor Lanes and a parking garage at 110 University Place between 12th and 13th Streets with luxury condominiums.
Website EV Grieve called it “dreary news,” noting a mini-spree of new development occurring in the vicinity, adding that the demolition of the popular bowling alley, established on the property in 1938, could begin as early as this summer.
What better way to pass these strange, disordered days after Hurricane Sandy than by inking the contract for a $27.5 million apartment on the Upper East Side? Harry Macklowe’s son, budding real estate dynamo Billy Macklowe, certainly thought so, at least according to The New York Post. The Post reports that Mr. Macklowe signed an under-ask contract for a four-bedroom, 5.5-bath co-op apartment at 950 Fifth Avenue.
From the Finance File
The swans in Town Pond paddled on serenely, unfazed by the crowds filing up James Lane toward Guild Hall. The birds, evidently, are accustomed to such revelry. The event, last Saturday, was a celebration of Richard Prince’s exhibition “Covering Pollock,” currently on display at the Hall’s gallery. The work, Mr. Prince’s latest, consists of black-and-white photographs of Jackson Pollock obscured by images of models, ’80s punk stars and various forms of old-school erotica. Inside, groups of curious viewers—some of them peering over their spectacles at the prints—made polite banter about the graphic images.
The banks have welcomed Billy Macklowe back with open arms.
Mr. Macklowe has secured a $25 million mortgage at 636 Sixth Avenue, which he picked up for $45.2 million a few months ago. The lender was Capital One National Association.
When Mr. Macklowe bought the building with ING Clarion in January, he told Read More
Life is stirring again at the ghostly Drake Hotel site.
With financing for development sites still virtually frozen, CIM Group has received a $30 million mortgage from Pacific Northwestern Bank on the former home of the Gilded Age hotel, according to public records.
As The Observer reported in February, the spot at Park Avenue and 57th Street is likely the only existing development Read More
Billionaire Steven A. Cohen is poised to follow his recent legal reprieve with a huge lease at 510 Madison Avenue.
After months of speculation, his mercurial hedge fund, SAC Capital, is near a deal to take 66,000 square feet, or the second through fifth floors, multiple sources said. Rumors of the deal have been swirling for months, but a Read More
William Macklowe once won and lost big in a high-stakes real estate game, but his new firm is scoring more modest victories.
Four-hundred Madison Avenue was one of dad Harry Macklowe’s long-time holdings and one of two Billy held onto when the empire the two ran fell apart. Now the son has inked Read More
These daily disclosures of campaign spending continue to yield interesting tidbits.
One is that major real estate developers appear to have noticed that Scott Stringer, the Democratic nominee for Manhattan Borough President, is about to have a say over their projects, and are responding accordingly.
The last few days show contributions Read More