Billionaires’ Row developer Harry Macklowe wants to sell his 432 Park home — but he doesn’t own it

New York property developer Harry Macklowe is preparing to list a $75 million apartment in his own Billionaires’ Row tower. 

The problem? He doesn’t own the place. 

Macklowe, a well-known showman, shared news of his anticipated listing with the Wall Street Journal through the brokerage Douglas Elliman. The $75 million offering consisted of a two-unit spread at 432 Park Ave., the third tallest residential building in the world. Macklowe himself helped build the tower.

Macklowe’s brokers told the Journal that “it was just time” for him to part with the lofty residences, located on the 78th floor.

The Journal subsequently uncovered bankruptcy records that show Macklowe was forced to surrender his equity in his 432 Park Ave units to a lender in June.

An entity tied to the skyscraper’s sponsor, CIM Group, provided the loans for Macklowe’s $47 million purchase of three apartments at the building in 2022. The spread consisted of two units on the 78th floor and another on the 28th floor, the Journal reported. 

CIM initiated foreclosure proceedings in 2023, according to the outlet, claiming Macklowe was living large while defaulting on $46 million in loans.

This marks the latest development in a series of bad press for 432 Park Ave. Defects reported by residents at the 1,396-foot-tall tower range from cracks in the concrete sheath to noisy trash chutes. An ongoing court case, filed by the building’s condo board in 2021, alleged serious developer malfeasance, which the developers have denied.

Macklowe’s two apartments on the 78th floor span roughly 8,300 square feet, the Journal reported. The larger of the two, measuring around 7,000 square feet, is a fully finished four-bedroom. 

The second, smaller unit is unfinished. It was reportedly meant for Macklowe’s ex-wife, Linda Macklowe.

Listing photos shared with the Journal showed off Macklowe’s personal touches to the home, including a custom-made egg-shaped bathtub made of blue glass and rosa marble floors. 

This isn’t the first time Macklowe has landed in hot water with his properties. The developer lost, and regained, his real estate fortune twice, most recently in the financial crash of 2008.

In addition to the ongoing drama surrounding 432 Park, Macklowe is also having trouble offloading his East Hampton home. Due to renovations made without the necessary permits, the $32.5 million five-bedroom lacks a certificate of occupancy, making it currently impossible for any deep-pocketed buyer to actually live there.

Messages to Macklowe and Douglas Elliman were not returned.