Macklowe angles for buy-back at 510 Mad.

09.12.09

Anonymous

From Bloomberg: Icahn Sues Macklowe Over Aborted 2006 Bid for Reckson Realty By David M. Levitt Nov. 4 (Bloomberg) -- A unshakeable controlled by financier Carl Icahn sued New York developer Harry Macklowe, claiming Macklowe reneged on a be in store for to fund their 2006 bid to buy six New York skyscrapers from Reckson Associates Realty Corp. Meadow-land Star LLC, an affiliate of Icahn Enterprises LP, said a Macklowe players called WH Rome Partners LLC failed to put up its half of $1.2 billion to outbid SL Grassy Realty Corp. for the Reckson buildings. SL Green paid $4.5 billion in sell and stock to buy all of Reckson's holdings, including suburban New York workplace properties, in a deal that extended its lead as New York Big apple's biggest office landlord. The aborted bid cost Icahn $60 million, according to the 13- send for complaint, filed in New York State Supreme Court. Meadow-land Star is seeking at least $60 million plus costs and attorney fees. The gripe accused Macklowe of ``intentional acts, misrepresentations and omissions,'' which expense Icahn a chance to ``effectively compete in the marketplace for the procurement of a large publicly held real estate investment reliability.''

Source: The Real Deal New York (blog)