Billy Macklowe has snapped up the troubled loan on a Tribeca office building. The William Macklowe Company bought the $46 million note tied to 291 Broadway as the loan barreled toward foreclosure, The Real Deal has learned. Lender Flagstar Bank sold the note to Macklowe for slightly less than the balance of about $45 million, per a source with knowledge of the deal. The note sale comes after Flagstar sued owner Sutton Management in July to foreclose on the 129,000-square-foot property, alleging the borrower stopped making payments at the end of 2024. As of June 30, the landlord allegedly owed […]

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