Skip to comments.Disappearing act: Billionaire developer Harry Macklowe claims real estate holdings have SHRUNK (Tr)
Posted on 12/06/2017 10:45:33 PM PST by Oshkalaboomboom
Billionaire real estate developer Harry Macklowe is not a magician, yet during his divorce trial he managed to make over half-a-billion dollars disappear.
Although Macklowe's financial statements say he holds a portfolio of properties worth $548.9million, he is now telling his soon-to-be ex-wife Linda's lawyers that he is really worth a measly $23million.
The Macklowes are currently in the midst of an acrimonious divorce, according to Page Six.
'The total amount of commercial real estate that you certified to the banks was $548.9million and the position that you're taking in this lawsuit is that your total commercial real estate is worth $23million, is that correct?' Linda Macklowe's lawyer, John Teitler, asked Harry Macklowe in a Manhattan court on Wednesday.
'That's correct,' he responded. In 2016, Harry Macklowe gave a 'statement of financial condition' to banks so that he could obtain loans and lines of credit.
The statement listed $548.9million worth of assets, including the 'crown jewel' in his portfolio - Macklowe's $440milllion stake in 432 Park Avenue, the tallest residential building in the Western hemisphere.
(Excerpt) Read more at dailymail.co.uk ...
He must have a really good lawyer if he thinks he can pull this off.
No reason he can not share his wealth with a woman he has shared 60 years with. I hope she takes him for even more.
It’s considered rational that his reward for keeping her in the lap of luxury is to be stripped of his fortune. No wonder men all over go MGTOW.
It's considered rational to not try and nickel and dime your wife of 59 years so you can marry your mistress.
If you read his Wikipedia entry, he actually offered his wife half of his fortune, which is fair. It sounds like accountants and lawyers got to him in the time between his offer and the divorce becoming final.
Name the movie
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