Macklowe Properties, Inc.

Type: Private
On the web: http://www.macklowe.com

For Macklowe Properties, the Big Apple has gone a bit rotten. The investment company made a name for itself as developer, renovater, and manager of Midtown Manhattan real estate. It invested in upscale residential and office buildings, including the GM Building which it bought in 2003 for $1.4 billion (the most ever paid for an office building in the US). In 2008, the debt-ridden company sold the GM Building and several other assets at a loss. Its portfolio now includes about a half-dozen properties, including more for-sale properties. Creditors including Deutsche Bank have also sought foreclosures for unpaid mortgages. Macklowe was founded in the mid-1960s by chairman emeritus Harry Macklowe.

Officers:
Chairman: Harry Macklowe
President: Residential Real Estate Brokerage & Management

Competitors:
Helmsley Enterprises
SL Green Realty
Vornado Realty