Wednesday, May 1, 2019
Hard landings are rare for a savvy real estate mogul—
“The real estate industry is notorious for throwing off lots of deductions, and real estate developers are notorious for paying very few taxes.” — Steven Rosenthal
PHOTO by ANDREW LICHTENSTEIN/CORBIS NEWS VIA GETTY IMAGES
Over more than a half-century of investing in New York real estate, Harry Macklowe built a reputation as a dealmaker willing to take big risks. With help, he spun real estate profits into an art collection with hundreds of pieces, including Andy Warhol’s Nine Marilyns and sculptures by Alberto Giacometti.
In the 1980s, Macklowe gained notoriety after his company demolished single-room occupancy buildings near Times Square in the middle of the night; he built a hotel on the site, named it after himself, then ended up surrendering the property to the lender a few years later. The lifestyle of this investor hasn't been problems free. The ups and downs of Harry Macklowe; “He keeps trying to swing for the fences, and you’ve got to admire that.”— Full article.
Attribution: Patrick Clark and Benjamin Stupples via Bloomberg Businessweek
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Happy National #SmallBusinessWeek to our nation's 30 million small businesses, entrepreneurs, and innovators. When America's small businesses are strong – America is strong. On this small biz week, be sure to shop small! pic.twitter.com/oyVYPZPmiY
— House Committee on Small Business (@HouseSmallBiz) April 30, 2018
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We have seen it. Take notice:
Po'boycorp (@poboycorp) | Twitter
The latest Tweets from Po'boycorp (@poboycorp). Lost the paper route. PDH: to acquire knowledge, share it with the world. We have seen, heard, or experiencing it . . . https://t.co/P4FI896NzZ. Florida, USA
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