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Macklowe Sells Site Of Former Drake Hotel

Jan 29, 2010 9:34 AM

From Business Week:
Prime Parcel Fetches $304 Million
New York developer Harry Macklowe sold a prime Park Avenue development site in New York City to an affiliate of CIM Group for $305.4 million. Once home to the Drake Hotel, the parcel at Park and East 56th Street in Manhattan lies in one of the world’s 25 most expensive office districts and about two blocks from the world’s priciest shops. Click here for the full story.

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