H
arry Macklowe, a New York property developer, is preparing to list a $75 million apartment in his own Billionaires' Row tower at 432 Park Ave. However, he doesn't actually own the place. According to bankruptcy records, Macklowe was forced to surrender his equity in the units to a lender in June.

    Macklowe's brokers claim it's simply "time" for him to part with the two-unit spread on the 78th floor, which spans around 8,300 square feet and features a custom-made egg-shaped bathtub. The larger unit is fully finished, while the smaller one remains unfinished.

    The loan that enabled Macklowe to purchase the units was provided by an entity tied to CIM Group, the skyscraper's sponsor. However, CIM initiated foreclosure proceedings in 2023 after claiming Macklowe defaulted on $46 million in loans.

    This latest development adds to the controversy surrounding 432 Park Ave., which has faced issues with defects and alleged developer malfeasance. The building's condo board filed a court case in 2021 alleging serious wrongdoing by the developers, which they have denied.

    Macklowe's personal life is also under scrutiny, as he faces challenges selling his East Hampton home due to renovations made without necessary permits. The $32.5 million property lacks a certificate of occupancy, making it difficult for potential buyers to purchase and occupy the property.