Lender refuses to let Harry Macklowe off the hook for $14M loan shortfall
BankUnited is not walking away from a $14.2 million loan dispute with Harry Macklowe just yet. After losing the trial in April, the lender is now taking the legendary Manhattan developer to an appeals court. The dispute stems from a development loan the lender issued to Macklowe in December 2013. Macklowe used rent revenue from a Walgreens lease at 310 East 53 Street — for which, according to the lawsuit, he signed for 99-years in 2006 — to service the loan. But in March 2022, two months after the lease expired without the tenant extending the option, Macklowe defaulted on […]
This article originally appeared on The Real Deal. Click here to read the full story.
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