Harry Macklowe, a billionaire developer of 432 Park Avenue in New York, is ending his 58-year marriage with wife Linda Macklowe. The developer’s wife was offered $1 billion last year to walk away from the marriage.
Macklowe openly stated in Manhattan civil court on Tuesday, “As soon as this divorce is over, I’m getting remarried.”
Linda reportedly declined Harry’s $1 billion settlement offer and instead filed for divorce papers.
The developer reportedly hid his mistress, Patricia Landeau, a museum director, in his 737 Park Avenue development for two years before his wife handed him divorce papers.
Macklowe and his wife didn’t sign a prenup when they were married. The high-asset divorce includes a fortune estimated at $2 billion with an art collection valued at $1 billion. Linda is in control of the couple’s art collection.
The billionaire was in good spirits on Tuesday, telling jokes outside of the courtroom.
Supreme Court Judge Laura Drager is still working to determine the value of the estate. The judge requested both sides to move forward with their divorce quickly. Linda has, up until this point, declined the 50-50 split of the couple’s estate.
Harry, despite being married still, is engaged to Landeau.
Harry’s mistress was given an apartment just a mile from the Macklowe home. The billionaire’s humor includes telling jokes to people outside of the courtroom with a memorable line of “take my wife – please.”
Macklowe opened Macklowe Properties in the 1960s, taking advantage of New York’s development boom. The company’s total developments exceed over 13 million square feet and include commercial and residential properties in Manhattan.
High-asset divorces are among the most complex divorces due to complicated business structures, hidden assets and a variety of assets included in the divorce. A $1 billion offer is, if found to be truly half of the estate, is a generous offer that Linda may not secure otherwise in court.
