Harry Macklowe said he’s broke amid looming divorce from spouse of 58 years, Linda
New York City real estate tycoon Harry Macklowe revealed he’s drowning in debt amid his looming divorce from spouse of 58 years, Linda.
Macklowe, 80, listed his net worth at ‘negative $400 million’ during the pair’s first Supreme Court trial August 30 in Manhattan.
The debts are said to stem from decades-long of unpaid taxes and ‘deferred capital gains related to the 2008 sale of the General Motors building in midtown Manhattan for $2.9 billion,’ according to a Page Six report.
It seems the billionaire developer has been occupied financing his French fiancé Patricia Landeau’s lavish lifestyle by providing hundreds of thousands worth of gifts and funds for bills.
Linda’s lawyer, John Teitler, said in an opening statement during last month’s hearing Macklowe’s ill financial past and present on paper is ‘a case study in divorce accounting 101.’
Macklowe listed his marital assets at $1.3 billion — which include the pair’s homes, manifold of pricey artwork and their $100 million Plaza Hotel apartment.
Macklowe, 80, listed his net worth at ‘negative $400 million’ during the pair’s first divorce court trial August 30
The billionaire is now engaged to his ex-mistress Patricia Landeau (right)
The real estate tycoon has been financing her lavish lifestyle
Sources told Page Six Macklowe kept his ex-mistress in a secret Park Avenue apartment just blocks away from his apartment with Linda
At the center of the divorce proceedings are Macklowe’s iconic properties including the 1,396-foot-high 432 Park Avenue – the tallest residential building in the Western Hemisphere – and the Apple store on Fifth Avenue as well as Linda’s museum-quality art collection.
Macklowe is worth a reported $2billion and said in April that he offered his estranged wife half his fortune to leave their marriage quietly; Linda contests she was offered any money.
Sources told Page Six Macklowe kept his ex-mistress in a secret Park Avenue apartment just blocks away from where he lived with Linda at The Plaza.
Landeau is reported to have lived there for as long as two years before Macklowe asked his wife for a divorce.
The messy divorce trial is expected to stretch into 2018 in what presiding Judge Laura Drager predicted is ‘not going to be a pleasant experience’
Macklowe is worth a reported $2billion and said in April that he offered his estranged wife half his fortune to leave their marriage quietly
The blonde beauty, 62, said she resents her portrayal as solely his much-younger mistress, noting that she comes from a background of ‘substantial’ wealth and is still married, although separated from her second husband, a French-American banker.
Landeau is also the current president of the French Friends of Israel Museum in Jerusalem, where Macklowe and his wife were donors and where it’s rumored he and Landeau met.
Macklowe and Landeau are reportedly planning to marry as soon as his divorce is finalized.
The trial is expected to stretch into 2018 in what presiding Judge Laura Drager predicted is ‘not going to be a pleasant experience’.
Linda contests she was offered any money from Harry for the divorce
The Macklowes and Landeau are all expected to testify in court
The Macklowes and Landeau are all expected to testify. There is no prenuptial agreement.
At the time, he told reporters outside of the Manhattan courtroom a string of ‘Take my wife – please’-style jokes.
Macklowe told Page Six that Landeau taught him how to smile.
‘I have a lilt,’ he said. ‘I’m getting a divorce because my life with my ex-wife was not a happy one.’
And Landeau described the couple’s romance as a real-life Claude Lelouch film.
‘I’m living in your movie,’ she said she told the legendary director at a screening of his love story ‘Un homme et une femme’ at New York’s French Institute back in March.