Harry Macklowe Snags Madison Ave Site for Latest Condo Project in Upper East Side's "Gold Coast"
Despite being nearly 90 years old, Harry Macklowe is still making waves in the real estate world with his latest purchase of a 1920s-era apartment building on Madison Avenue.
Developer and real estate mogul Harry Macklowe, known for his numerous high-end projects throughout New York City, has added another property to his portfolio with the purchase of 809 Madison Avenue on the Upper East Side's coveted "Gold Coast." Macklowe acquired the limestone and brick building from Churchill Real Estate Holdings for $49 million, a discount from the original $55 million price tag set by Churchill in 2019.
The building, situated at the corner of East 68th Street, has been a tricky project for potential developers for several years. But Macklowe, known for his bold and ambitious projects, seems unfazed by the challenges and is already planning to convert the property into ultra-luxury condos.
"I have a deep love for real estate and a deep love for architecture," Macklowe said in a statement. "I think that's what sustains me and keeps me going."
The 89-year-old developer certainly shows no signs of slowing down, despite his age. His past projects include the iconic 432 Park Avenue, a 96-story luxury tower, and the controversial demolition of the historic Drake Hotel to make way for a new development.
With this latest acquisition, Macklowe continues to solidify his presence in the Upper East Side's luxury real estate market, further cementing his reputation as a formidable developer in the industry.