Harry B. Macklowe bought 1540 Broadway's office portion in February 2007 as part of a $7 billion transaction involving six of Equity Office's other buildings. Macklowe valued the building at $925 million to $950 million. He took out a $7.6 billion loan to fund the acquisitions, which was to come due within twelve months. Macklowe personally pledged $1 billion, as well as interests in twelve other properties, as a guarantee. By February 2008, the Macklowe Organization had no way to refinance the debt from the previous year. As such, Macklowe surrendered 1540 Broadway to his lender, Deutsche Bank. Macklowe had acquired 1540 Broadway at , but he was having trouble selling even at . While the building had been 84 percent occupied in 2007, the occupancy rate had dropped to 78 percent within two years, and Macklowe had only been able to sign three leases during that time. In 2009, CBRE bought 1540 Broadway's office section for $355 million, paying . CBRE converted the eighth floor into an amenity room, and it increased occupancy rates from 78 to 85 percent within a year. The Virgin Megastore at the base also closed in 2009.