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New York

The Closing with Tony Malkin

The chief of Empire State Realty Trust talks about his grandfather’s financial advice, his best role as a student actor and cleaning up after horses when working on a ranch

Tony Malkin (Credit: Max Dworkin)
Tony Malkin (Credit: Max Dworkin)

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From the November issue: Tony Malkin is chairman, president and CEO of Empire State Realty Trust, the real estate investment trust that owns the Empire State Building, as well as 18 other properties in New York City. The grandson of company founder Lawrence Wien, Malkin led the charge to consolidate his family’s portfolio, formerly known as Malkin Holdings, into a publicly traded REIT. After fielding unsolicited bids to buy the Empire State Building and facing lawsuits from dissenting shareholders, the company raised $929.5 million in its 2013 IPO. Today, it controls 8 million square feet of New York City real estate, including 2.9 million square feet at the namesake tower, which is undergoing a $500 million rehabilitation. [more]