Mogul losing skyscrapers in subprime market crash

02/17/2008 | CNNMoney/Fortune

Real estate mogul Harry Macklowe could lose billions of dollars in real estate, among other personal assets, due to his personal guarantee on $1.2 billion in loans. Macklowe is having to give up seven skyscrapers he bought last year from the Blackstone Group for $6.8 billion due to the subprime market failure.

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CNNMoney/Fortune

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