Looking for a place? Got a spare $3.4 Billion?

If you do, then you can be the proud owner of the GM Building. This white marble masterpiece even comes with an Apple Store in your plaza! Along with the glass cube wonder of exciting products, your fellow tenants include hedge funds and law firms. I am sure you will need them to float this puppy.

But maybe that’s not a great idea, because that’s why its for sale in the first place.

HARRY’S HELPLINE
By Lois Weiss
http://www.nypost.com/seven/03072008/business/harrys_helpline_100876.htm

March 7, 2008 — Harry Macklowe moved a step closer toward selling his venerable GM Building, receiving what one source described as “several bids” worth more than $3 billion.

However, at least two big-name suitors chose to sit out a second round of bidding for the 50-story tower at 767 Fifth Ave.

The debt-laden Macklowe has been hoping to sell the GM Building for at least $3.4 billion in order to pay off debt held by Deutsche Bank and hedge fund Fortress Investment Group.

However, there were doubts earlier this week whether he’d be able to get $3 billion, let alone $3.4 billion. And anything short of the $3.4 billion Macklowe wants raises the chances that he would have to sell other assets in order to meet his debt obligations.

So the dude needs money, and he needs it fast. Come on, it’s right on Central Park! Just $3.4 Billion and it’s yours. To bad the NY Times bought that clunker of a building last year, this would have been choice for the Grey Lady.