The Macklowe Selloff: What Happened to Harry’s Buildings

 

7.  1301 Avenue of the Americas (formerly the Credit Lyonnais Building)

Sold for $1.5 billion on August 13, 2008, to the Paramount Group

The 45-story, 1.8 million-square-foot building, completed in 1951, has accumulated more years than floors, and its architectural style bespeaks its oldness. But its location must still appeal to its many major tenants, which include Credit Agricole, Freeman & Co., and a number of law firms.

 

8.  527 Madison Avenue

Sold for $225 million on September 17, 2008, to Mitsui Fudosan

This 26-story building is one the Japanese investment firm’s four Manhattan holdings. Built in 1986, the sleek skyscraper slants on both sides toward the sky.

 

9.  126 East 56th Street (Tower 56)

Sold for $160 million on September 18, 2008, to Transwestern Investment Company

This purchase marked the Chicago-based firm’s Manhattan return (it sold off two other Manhattan buildings several years ago). The plain-looking structure stands at a middling height at 33 stories.

 

10.  1540 Broadway

Deal made for $355 million on March 5, 2009, for the office-condo portion, to be sold to CB Richard Ellis Investors

When Mr. Macklowe bought the 44-story Times Square skyscraper, he valued it at almost three times the price: $950 million.

 

11.  Worldwide Plaza at 825 Eighth Avenue

Deal made for an undisclosed amount on June 3, 2009, to be sold to an investment group led by RCG Longview and George Comfort & Sons

The sale of this building—for which Mr. Macklowe “paid” $1.74 billion in February 2007—caps the end of the saga. It is the last of the seven buildings which Mr. Macklowe bought on his February 2007 spending spree, and which  his creditors have sold off. 

The Macklowe Selloff: What Happened to Harry’s Buildings