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Harry Macklowe Buys One Wall Street, May Take It Residential

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Real estate developer/picaresque truck driver Harry Macklowe and a group of investors have purchased One Wall Street, the headquarters of Bank of New York Mellon, for $585 million, the Journal reports. Losing bidders included JDS Development Group and a joint venture of Elad Group and Silverstein Properties Inc.

As for what Macklowe plans to do with the landmark Art Deco property, that has yet to be announced. However, according to the Journal, "Some bidders planned to convert it to residential use," and considering Macklowe's recent history, condos or super luxury rentals seem more than likely. The tower was designed by architect Ralph Walker, who also designed the buildings used for recent high-priced conversions Walker Tower and Stella Tower, making the prospect of going residential all the more enticing. We'll just to have to wait and see what Macklowe's plans are, but in the mean time let's all watch a video of him telling a funny joke.
· Bank of New York Mellon In Deal to Sell NYC Headquarters [WSJ]
· One Wall Street coverage [Curbed]
· Harry Macklowe coverage [Curbed]

One Wall Street

1 Wall St, New York, NY 10005