Macklowe now owns the 568,060-sf Park Avenue Tower at 65 E. 55th St., the 465,173-sf 717 Fifth Ave., the 1.8-million-sf 1301 Avenue of the Americas, the 1.6-million-sf Worldwide Plaza at 825 Eighth Ave., the 215,322-sf 527 Madison Ave., the 906,287-sf 1540 Broadway, the 562,567-sf 850 Third Ave. and the 182,000-sf Tower 56 at 126 E. 56th St.
"The acquisition of these buildings is consistent with our long term objectives," says Harry Macklowe, chairman of Macklowe in a statement.
The only EOP building in New York that Macklowe did not acquire in the deal was the 1.3-million-sf 1095 Avenue of the Americas. This building is currently in the final stages of a full renovation process and recently signed MetLife Inc. as a long-term tenant with a 410,000-sf lease. The building will revert to the Blackstone portfolio when the merger closes.
Just a couple of months ago Macklowe made an attempted to grow its portfolio in another way. Along with investor Carl Icahn, Macklowe offered a competing bid to acquire Reckson Associates Realty Corp. Reckson at the time was in the middle of a merger deal with SL Green Realty Corp, which eventually closed in January. Had Macklowe been successful in upending the SL Green merger the company would have added 4 million sf in five buildings to its portfolio.
Macklowe's New York portfolio includes the GM Building at 767 Fifth Ave.; 2 Grand Central Tower, 400 Madison Ave., 540 Madison Ave., 125 W. 55th St. and 140 W. 57th St. "The addition of these assets to our current holdings will allow us to expand our brand and core strategy of creating long term asset value," says president William Macklowe.
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