Harry Macklowe and 200 East 59th Street
At stake in the case is an estimated $2B fortune
With a $2 billion fortune at stake, attorneys for Harry Macklowe threw a few of his condominium projects under the bus at the divorce trial Wednesday for the developer and his wife Linda.
His 65-unit project at 200 East 59th Street? Just three units are in contract after nearly a year of sales. 432 Park Avenue? It has 27,000 square feet of below-grade retail and just one tenant after years of marketing.
Those details and others were disclosed during a cross-examination of the appraisal expert called by Linda Macklowe’s team. John Feeney, co-head of Cushman & Wakefield’s multifamily valuation team, said 432 Park was worth $2.4 billion as of June 30, 2016. The developer’s office-to-residential conversion at 1 Wall Street was worth $1.9 billion. And a leasehold at 310 East 53rd Street is worth $28 million.