William Macklowe formerly served as president of the firm. "I look forward to continuing the successful business my father and I have created, building upon it and branching out--undertaking new projects that will further the contributions we've made to New York City over the years," Macklowe says in a prepared statement.
He continues that "I will be identifying exciting new opportunities for us and working with our existing investors and a growing network of new investors and guiding the expansion of our business with the exceptionally creative, hands-on development and management approach for which Macklowe Properties is known."
Before joining the company in 1992, Mr. Macklowe, a graduate of New York University, was a real estate finance analyst for Manufactures Hanover. Macklowe Properties did not return GlobeSt.com queries by deadline for further information.
The replacement comes less than three weeks after Macklowe Properties was forced to sell its trophy General Motors Building as well as three other Midtown towers. Earlier this year, the company turned over seven office towers to their lender, Deutsche Bank, and put other buildings on the market.
Boston Properties closed this week on its GM Building purchase, as well as the purchased of three other towers for $3.95 billion, as GlobeSt.com previously reported. Also, earlier this week, sources revealed that the company's 1301 Avenue of the Americas is expected to trade to the Paramount Group for $1.45 billion, and another source confirmed that Shorenstein Properties has purchased Park Avenue Tower at 65 E. 55th St. and 850 Third Ave., for just shy of $1 billion.
Macklowe Properties is not just an owner of property. The firm is still building a 30-story 510 Madison office building, which according to its website will be finished in September of this year. The company is also currently redeveloping 1330 Sixth Ave., a 40-story tower located between 53rd Street and 54th streets.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
