Macklowe Buys GM Building For a Record $1.4 Billion
New York City developer Harry Macklowe now owns the General Motors Building after paying Conseco Inc. a record $1.4 billion for the 50-story midtown Manhattan office tower. Macklowe was one of nearly two dozen bidders — including REITs and private investors — vying for the 2 million sq. ft. office tower. Macklowe will be paying $700 per sq. ft. for the property.
The last building to fetch such a staggering sum was 399 Park Avenue, another midtown Manhattan office tower, that Boston Properties paid $1.04 billion for last year.
Acceptable Use Policy blog comments powered by Disqus
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Photo Galleries
New York's Star Deals
The city that never sleeps is also the city that never stops growing, not even in the midst of recession. And deals, both bold and unprecedented, continue to be done. Check out image of New York's big deals.
Hudson Yards Development
Check out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-
Videos
JLL at ICSC 2012
Check out these videos from JLL at ICSC 2012 in Las Vegas...
Click here to view more videos.
advertisement
Blogs
 |
Real Vox |
 |
Traffic Court |
 |
The Full Nelson |
Events
 |
|---|
Strategic Real Estate Investment ConferenceDate: Thursday, June 7, 2012 Click here to view more events... |
This Week's Most Popular
Current Issue
 |
|
Join the Conversation
