The Macklowe Selloff: What Happened to Harry's Buildings

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 over $7 billion.

The shakeout from that at-the-time applauded purchase eventually resulted in not only the seizure by creditors...

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