Macklowe - saved to the tune of $2.9 billion?
Nice money if you can get it . Of course, these numbers may not keep Harry on the next Forbes 400 list (as the story says), but it means he gets to pay off his nasty bridge/mezz loan and refi the balance. (Macklowe paid $1.4B for this building in 2003.) The real story here is not that Boston Properties bought this puppy at 2 AM today. They are also buying another three other Midtown buildings for a billion or so. They apparently put down $165 MM is earnest money with a closing in the next few months (meaning -- OMG get this -- due diligence?!?!). The $2.9 for the GM Building is a record for a single asset in the US. But I am on vacation so I don't have the resources to look up some price estimates on the other buildings.