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NEW YORK CITY-William S. Macklowe has officially been named chairman and CEO locally based Macklowe Properties, after weeks of speculation. His father, Harry Macklowe, founder of the company, has been named chairman emeritus, and in that role, will continue to contribute his vision to the firm’s numerous development and redevelopment activities.

William Macklowe formerly served as president of the firm. “I look forward to continuing the successful business my father and I have created, building upon it and branching out–undertaking new projects that will further the contributions we’ve made to New York City over the years,” Macklowe says in a prepared statement.

He continues that “I will be identifying exciting new opportunities for us and working with our existing investors and a growing network of new investors and guiding the expansion of our business with the exceptionally creative, hands-on development and management approach for which Macklowe Properties is known.”

Before joining the company in 1992, Mr. Macklowe, a graduate of New York University, was a real estate finance analyst for Manufactures Hanover. Macklowe Properties did not return GlobeSt.com queries by deadline for further information.

The replacement comes less than three weeks after Macklowe Properties was forced to sell its trophy General Motors Building as well as three other Midtown towers. Earlier this year, the company turned over seven office towers to their lender, Deutsche Bank, and put other buildings on the market.

Boston Properties closed this week on its GM Building purchase, as well as the purchased of three other towers for $3.95 billion, as GlobeSt.com previously reported. Also, earlier this week, sources revealed that the company’s 1301 Avenue of the Americas is expected to trade to the Paramount Group for $1.45 billion, and another source confirmed that Shorenstein Properties has purchased Park Avenue Tower at 65 E. 55th St. and 850 Third Ave., for just shy of $1 billion.

Macklowe Properties is not just an owner of property. The firm is still building a 30-story 510 Madison office building, which according to its website will be finished in September of this year. The company is also currently redeveloping 1330 Sixth Ave., a 40-story tower located between 53rd Street and 54th streets.

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