Report: Macklowe Selling GM Building This Month

Bloomberg News is reporting that Harry Macklowe plans to sell the GM Building this month. Bids for the 50-story building, arguably the world's most valuable, are due on Feb. 15. And Mr. Macklowe owes billions to his creditors by Feb. 9 (or they need to give him an extension by that date).

So the timing for a multi-billion-dollar sale of the GM Building at 767 Fifth Avenue would not be more opportune for the embattled Mr. Macklowe, who has emerged in recent months as the poster boy for the credit crisis and its effects on Manhattan real estate.

CB Richard Ellis is marketing the GM Building.