Developer Harry Macklowe made big news last year when he spent approximately $60 million for several apartments that he’s assembled into a huge residence at the Plaza.
Now, with his commercial real-estate empire in serious trouble, insiders say Macklowe is quietly shopping the 10,000-square-foot spread on the seventh floor that overlooks the park and his beloved General Motors Building. According to well-placed sources, Macklowe doesn’t want any press about his pricey property.
“It’s certainly not a bad time to be selling high-end property in Manhattan,” says a real-estate source. “There are people who are re-listing their properties at the Plaza for twice the price.”
If that were the case, that would make Macklowe’s joint one of the most expensive flats in the world.
“It’s absolutely not on the market,” assures Macklowe’s spokesman Steve Solomon.
“I just know that he’s in the process of decorating,” says Elizabeth Stribling, whose eponymous real-estate firm marketed the Plaza.
An Italian businessman who has a similar-sized pad in the Fifth Avenue landmark has reportedly been floating a $100 million price tag to brokers.
Macklowe is expected to raise about $6 billion from the sale of seven New York office towers that he bought for $7 billion from Blackstone Group LP last year. He’s been negotiating with creditors to pay the $7 billion he borrowed to buy the buildings after lenders called in defaults on four of the properties – which means Harry still has to come up with a cool billion.
Supreme mansion, $39.5M
Diana Ross is re-listing her Greenwich estate, known as Quarry Farm, for the same $39.5 million price. Ross bought the 9-acre spread, located on a cove in the Belle Haven area, in 1980 from Frank Gorshin, perhaps best known as the Riddler on the “Batman” TV series. She had previously listed the estate in 2006.
Encompassing over 12,000 square feet, the stone house includes 11 bedrooms, 10 baths and a bowling alley, as well as a family room and wine cellar. The living room retains its 18th-century oak paneling, the master bedroom has a double-sided fireplace, and ogee arches open into each room.
The property includes a free-form swimming pool, spa and tennis court. Included on the grounds are a five-car garage and another garage with an apartment above. There’s also a guest cottage.
Broker Kathryn Clauss of Coldwell Banker Residential Brokerage had no comment.
Shelter gimme
There’s good news and bad news for one Hamptons investor who hoped to flip the former Shelter Island estate of ex-Gov. Hugh Carey for a mega-profit.
The good news is that he’s sold the 7.8-acre waterfront property with a vintage rambling 11-bedroom home. The bad news is that he didn’t exactly get his original asking price.
Investor Chris Knight bought the spread known as Shorewood for $10 million in March 2007. He then had locals shaking their heads when he re-listed it, practically as is, about a month later for a whopping $33 million. We reported last September that he was a “serious” seller at $24.9 million with a new team of brokers from the Corcoran Group, who had a co-exclusive with Sotheby’s. Then it was reduced earlier this month to $22.4 million.
We now hear that the actual selling price is in the mid-$12 million range for the place with views of Shelter Island Sound and the Peconic Bay. There is also a separate cottage on the grounds and subdivision approvals in place.
But Knight, who didn’t reveal the price, told us he made money in what is a struggling East End market, and that he had a “great summer” there last year with his family.
We’re also told the selling price is a record for Shelter Island.