Harry Macklowe Attempts to Sell 432 Park Units Lost in Foreclosure
Harry Macklowe Attempts to Sell 432 Park Units Lost in Foreclosure
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July 15, 2025 | New York City
Harry Macklowe, the once high-flying developer behind 432 Park Avenue, tried to list his luxury penthouse units for $75 million — despite no longer owning them. The properties were foreclosed upon last month and transferred to lender CIM Group after Macklowe defaulted on $46 million in mezzanine loans.
The units include a 7,000-square-foot finished four-bedroom apartment and a 1,200-square-foot raw space, initially meant for his ex-wife during their bitter divorce. Macklowe had been working with Douglas Elliman to prep the listings when the Wall Street Journal discovered the ownership discrepancy.
CIM initiated foreclosure proceedings in 2023 but allowed Macklowe a five-month grace period to sell or refinance. That window closed in June, with the developer surrendering his stake in the LLCs tied to the units.
The 432 Park saga adds to a growing list of issues tied to the tower, which has been plagued by resident lawsuits, mechanical defects, and declining property values on Billionaires’ Row.
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