Macklowe says his 432 Park profits were $350M less than he hoped

When Harry Macklowe set out to develop 432 Park Avenue, he hoped to pocket about $400 million in profits from the sale of top-shelf condominiums. It turns out, he testified Thursday, that his expectations were off – about $350 million off. “My share was down to $48 million,” Macklowe said during testimony in his high-stakes divorce trial. That gulf was a result of several factors, he said, one of which was a capital infusion in 2012 […]

Source: Real Estate

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