Macklowe Properties acquired this 2,000,000 square foot trophy property in September 2003 for a purchase price of $1.4 billion, which represented the largest single-asset real estate transaction in the United States at the time. Macklowe completed a comprehensive $150 million repositioning program to reenergize the GM Building into one of Manhattan’s most recognizable and iconic trophy office buildings.

By redeveloping the Fifth Avenue Plaza to provide for Apple Inc.’s revolutionary belowstreet flagship store design, and extending the Madison Avenue facing storefronts to the street line to create additional space for high-end, exclusive retail stores such as Bally’s, Porsche Design and FAO Schwartz, Macklowe has secured long-term, cash flow and added significant value to this property. Read More