CARLTON REPRESENTS HARRY MACKLOWE IN MAJOR LUXURY APARTMENT HOUSE ACQUISITION

| May 6, 2011

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As reported in the Wall Street Journal, Bloomberg and other notable publications, it has been confirmed that famed developer, Harry Macklowe has gone to contract on 737 Park Avenue and Carlton Chairman, Howard L. Michaels is his advisor. 737 Park Avenue is one of the truly great remaining, unconverted, pre-war apartment buildings, majestically sitting on a corner location, directly on Park Avenue and 71st Street. The property enjoys tremendous light and air by virtue of its corner location, and sits directly across the street from 740 Park Avenue, which is arguably one of Manhattan’s most successful cooperatives. Mr. Macklowe, who is one of the most talented developers in the world, was able to capture this asset from a field of high profile investors who were all vying to acquire this asset.

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