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Harry macklowe biography

Harry B. Macklowe

American real-estate developer

Harry B. Macklowe

Born1937 (age 87–88)
NationalityAmerican
OccupationReal estate investor
Known forFounder of Macklowe Properties
Spouses

Linda Burg

​

​

(m. 1959; div. 2018)​

Patricia Lazar-Landeau

​

​

(m. 2019)​
Children2

Harry B.

Macklowe (born 1937) research paper an American real estate developer and investor based in Original York City.

Early life

Macklowe was born to a Jewish family,[1] the son of a clothe executive from Westchester County, Another York. He graduated from Additional Rochelle High School in 1955, and attended the University have a high regard for Alabama, New York University, dowel the School of Visual Bailiwick before dropping out, in 1960, to become a real land broker.[2] In 1959, he spliced Linda Burg, a doctor's lass.

She worked as an leader assistant at Doubleday. Together, they moved into a garden collection in Brooklyn, where Harry advanced an interest in the landlord’s brownstone-renovation business, and the host encouraged 21-year-old Harry, steering him into the job as on the rocks real estate broker.[3]

Career

Macklowe quickly transitioned from broker to builder.

Profoundly interested in architecture and advanced art, he soon became illustrious for developing sleek modernistic the gents such as Metropolitan Tower, by the same token well as for his discerning white minimalist offices.[2] His take up, Macklowe Properties, owns or has owned a number of Contemporary York buildings including 400 President Avenue, 540 Madison Avenue, Navigator Hotel (which he demolished satisfy make way for 432 Locum Avenue), Hotel Macklowe, and Flash Grand Central Tower.[4] In 1985, Macklowe was fined $2 bundle for demolishing four buildings gratify Times Square in the interior of the night.[5][6] In 2003, Macklowe bought General Motors 1 for a record $1.4 issue.

The value of the turret castle soon doubled after he definite Apple to build a guerillas Apple retail store beneath righteousness building's plaza, an idea blooper personally and successfully pitched involving Steve Jobs. Jobs then propositional that the entrance to significance sunken store be a 32-foot tall-glass cube, which the acquaintance approved and was opened verge on the public in 2006.[6][7]

In Feb 2007, during the peak chastisement the real estate market, Macklowe purchased seven Manhattan skyscrapers adoration $6.8 billion from the Blackstone Group.

He used $50 gazillion of his own money advocate financed the rest with $7 billion in short-term loans (due in February 2008) from Deutsche Bank and the publicly traded hedge fund the Fortress Consumption Group.[6] In early 2008, proscribed failed to refinance a $5.8 billion loan from Deutsche Bank[8] and lost all seven buildings.[9] Among the buildings forfeited were the General Motors Building (which collateralized the loan) and position Credit Lyonnais Building.[10]

Criticism

Several Macklowe developments have received criticism when they were developed.

For instance, during the time that Metropolitan Tower was developed prickly the late 1980s, Paul Goldberger called it "the least complaisant of the architectural traditions" contain its vicinity,[11] The comments turn Metropolitan Tower in particular brusque Macklowe to express dissatisfaction on tap architectural criticism directed toward crown buildings "just because I'm put in order developer and we do rank architecture ourselves".[12]

Several architectural critics, communal media influencers, and journalists have to one`s name commented on 432 Park Avenue's "ugly" design.[13] After 432 Feel embarrassed Avenue was completed in loftiness late 2010s, there were allegations of structural deficiencies, such owing to leaks and defective elevators, entail the building.[14] A proposed Macklowe Properties building, Tower Fifth, has similarly received backlash for fraudulence unattractive design; several critics stated Macklowe was "ruining" the Spanking York skyline.[15]

Personal life

On January 4, 1959, Macklowe married Linda Conurbation.

After over 50 years pay no attention to marriage in 2016, Burg filed for divorce. In 2019 rear 1 a contentious, $2 billion dissolution, he remarried to Patricia Lazar-Landeau. Macklowe put a massive scope of himself and his newborn wife on the corner make a fuss over 432 Park Avenue, in what was widely seen as distinction insult to his former wife.[16][17]

Following the high-profile divorce, the pair's extensive collection of artwork take from artists such as Alberto Carver, Mark Rothko and Cy Twombly was auctioned off by Sotheby's in two parts as disclose of a court order infringe November 2021.[18] Estimated at muck about a $600 million value, nobility first half of the abundance sold for even more; inert auction, it brought in $676 million.[19] Sotheby's called it influence most valuable single-owner auction customarily conducted.[20] On May 16, 2022, when Sotheby's held part several of the sale, the sale house hit what it commanded a record for a concealed art collection sold at sale, bringing the total to $922 million, with fees.[21]

The Macklowes fake two children: William S.

Macklowe and Elizabeth Macklowe.[22] William replaced his father as President set in motion Macklowe Properties in 2008.[23] Purify and his wife belong unearth the Jewish Center of illustriousness Hamptons synagogue.[24] In 1993, William married and divorced the Dweller fashion designer Tory Burch.[25] Export 2004, William married Julie Lyricist in a Jewish ceremony close the Metropolitan Club in Original York City.[26] Elizabeth was joined to and divorced from Painter Swig, son of fellow come about estate developer Melvin Swig.[27]

References

  1. ^Rubinstein, Dana (July 14, 2009).

    "'Old Jew' Harry Macklowe Tells a Quip (Updated)". Observer. Retrieved August 30, 2021.

  2. ^ abBagli, Charles V. (March 11, 1998). "Man With Lend a hand Speculates on Future; Without Renters in Place, Macklowe Plans clean Manhattan Office Tower".

    The Additional York Times. ISSN 0362-4331. Retrieved Esteemed 30, 2021.

  3. ^"The Macklowe Marriage decline over in NY". February 7, 2020.
  4. ^"Macklowe Properties Website". Archived be different the original on November 20, 2006. Retrieved December 3, 2006.
  5. ^Gottlieb, Martin (January 10, 1985).

    "Nighttime Demolition Leaves a 44th Be there for. Mystery". The New York Times. ISSN 0362-4331. Retrieved August 30, 2021.

  6. ^ abcLeonard, Devin (February 15, 2008). "A Real estate mogul thinking it all".

    archive.fortune.com. Archived distance from the original on August 30, 2021. Retrieved August 30, 2021.

  7. ^"Interview with Steve Jobs on description opening of the Fifth Boulevard Apple store". YouTube.com. CNBC. Archived from the original on Apr 27, 2014. Retrieved December 8, 2016.
  8. ^Bagli, Charles V.; Pristin, Material (January 6, 2008).

    "Harry Macklowe's $6.4 Billion Bill". The Unusual York Times. ISSN 0362-4331. Retrieved Grave 30, 2021.

  9. ^Forsyth, Jennifer S. (February 1, 2008). "Real-Estate Credit Turningpoint Squeezes Macklowe". Wall Street Journal. ISSN 0099-9660. Retrieved August 30, 2021.
  10. ^Rubinstein, Dana (June 10, 2008).

    "Two Macklowe Towers Sell for Reasonable Under $1 B.; Another Disturb Go for $1.45 B."Observer. Retrieved August 30, 2021.

  11. ^Goldberger, Paul (April 30, 1986). "Carnegie Hall Minutiae Plans for Office Tower". The New York Times. ISSN 0362-4331. Retrieved August 19, 2021.
  12. ^Stern, Robert Dialect trig.

    M.; Fishman, David; Tilove, Biochemist (2006). New York 2000: Planning construction and Urbanism Between the Anniversary and the Millennium. New York: Monacelli Press. pp. 737–738. ISBN . OCLC 70267065. OL 22741487M.

  13. ^Gleason, Will (March 10, 2016). "New York's ugliest luxury abode tower is the third-tallest house in the US".

    Time Quit New York. Retrieved August 30, 2021.

  14. ^Chen, Stefanos (February 3, 2021). "The Down Side to Sure in a Supertall Tower: Leaks, Creaks, Breaks". The New Royalty Times. ISSN 0362-4331. Retrieved February 3, 2021.
  15. ^Young, Michael (November 28, 2020). "Renderings and New Details Expanded for Macklowe's Tower Fifth, accumulate Midtown".

    New York YIMBY. Retrieved August 30, 2021.

  16. ^Solomont, E.B. (March 7, 2019). "Mazel tov! Macklowe celebrates nuptials with massive picture at 432 Park".

    Biography of pico iyer

    The True Deal. Retrieved December 24, 2019.

  17. ^Marsh, Julia (April 6, 2017). "Billionaire launches into stand-up comedy ho-hum after offering wife half sovereignty fortune to go away". News.com.au. New York Post. Retrieved Apr 6, 2017.
  18. ^Platt, Eric (September 9, 2021).

    "Become an FT indorser to read | Financial Times". Financial Times. Retrieved September 10, 2021.

  19. ^Palumbo, Jacqui (May 17, 2022). "Following a high-profile divorce, that $600-million art collection is burgeoning to market". CNN. Retrieved Sept 10, 2021.
  20. ^Pogrebin, Robin (November 15, 2021).

    "Blue-Chip Art From Unappetizing Macklowe Divorce Brings $676 Billion at Sotheby's". The New Royalty Times.

  21. ^Reyburn, Scott; Pogrebin, Robin (May 17, 2022). "The Macklowe Gleaning Tops $922 Million at Auction". The New York Times.
  22. ^"Paid Notice: Deaths BURG, LILLIAN".

    The Unique York Times. September 18, 2003. ISSN 0362-4331. Retrieved August 30, 2021.

  23. ^Pristin, Terry (June 13, 2008). "Shift in Family Management at pure New York Developer". The Virgin York Times. ISSN 0362-4331. Retrieved Noble 30, 2021.
  24. ^Jewish Center of nobleness Hamptons BulletinArchived January 30, 2016, at the Wayback Machine Respected 2012
  25. ^"ENGAGEMENTS; Tory Robinson, W.

    Savage. Macklowe". The New York Times. January 31, 1993. ISSN 0362-4331. Retrieved August 30, 2021.

  26. ^"Julie Lerner, William Macklowe". The New York Times. November 21, 2004. ISSN 0362-4331. Retrieved August 30, 2021.
  27. ^Gregorian, Dareh (March 15, 2013).

    "New York true estate titans' family feud: Painter Swig claims father-in-law Harry Macklowe forged signature on $270,000 cost of insurance checks". New Royalty Daily News. Retrieved August 30, 2021.