Developer Harry Macklowe got in big trouble (and gave his son control of the company) when some of his highly leveraged deals went awry, but in the case of the demolished Drake Hotel on Park Avenue, there's a whole lotta Harry. According to court filings, Macklowe?who is suing to block Deutsche Bank's foreclosure on the property?says his personal cash investment in the site has grown to a whopping $250 million, an equity stake that could soon get wiped out. [Real Deal, previously]
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