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The Philippine government reached an agreement yesterday giving it about half the profits from the sale of the one-time treasure trove of Manhattan real estate it said was owned by former Philippine rulers Ferdinand and Imelda Marcos.
But lawyers said the buildings' value has dropped sharply during the course of a four-year legal battle over ownership.
Some attorneys said a plunging real estate market means the Philippines is likely to get no more than several million dollars for property that once would have netted perhaps $50 million to $100 million in profit.
| The four properties - located at 730 Fifth Ave., 40 Wall |
| St., 200 Madison Ave. and the Herald Center located at Herald... |