The Real Deal New York

Posts Tagged ‘empire state building’

  • Empire State Building (inset: LinkedIn co-founder Reid Hoffman)

    Empire State Building (inset: LinkedIn co-founder Reid Hoffman)

    LinkedIn is taking a bigger bite out of the Empire State building, adding an additional two floors for a total of 280,000 square feet. [more]

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  • From left: The lobby of the Empire State Building and an old-fashioned shoe shine boy

    From left: The lobby of the Empire State Building and an old-fashioned shoe shine boy

    The shoes passing through the lobby of the Empire State Building — and surrounding offices in Midtown — will shine a bit less bright. [more]

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  • Foot Locker

    112 West 34th Street and Anthony Malkin

    Empire State Realty Trust signed Foot Locker to a 34,200-square-foot lease to retain the apparel retailer’s flagship location at 112 West 34th Street in Midtown, the real estate investment trust announced Wednesday. [more]

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  • Empire State Building Thomas Durels William Cohen

    From left: Empire State Building, Thomas Durels and William Cohen

    Workday is relocating its New York headquarters to a 21,401 square foot space on the 49th floor of the Empire State Building – moving its operations from one Empire State Realty Trust property to another. [more]

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  • William Cohen Sven Sykes

    From left: Newmark Grubb Knight Frank’s William Cohen and Colliers International’s Sven Sykes

    Infrastructure consulting firm HNTB Corporation will move into the Empire State Building before the end of the year.

    The company, now located at 5 Penn Plaza, inked a 78,000-square-foot lease for 10 years and five months, according to the New York Observer. HNTB will occupy three floors — the 56th through the 58th — in the iconic tower. [more]

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  • Empire State Building (inset: Ned Cohen)

    Empire State Building (inset: Ned Cohen)

    Former Malkin Securities executive Ned Cohen is launching a new venture that will target former Empire State Building investors who still want to park their money in real estate. [more]

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  • esb-lease

    From left: Empire State Building, Thomas Durels and William Cohen

    Media General inked a 10-year lease for nearly 27,000 square feet at the Empire State Building. [more]

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  • STATE-Bar-Grill-2

    The State Bar and Grill

    The Empire State Building’s latest restaurant tenant — State Grill and Bar — has opened its doors to tourists and power lunches alike. [more]

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  • From left: One World Trade Center, the Empire State Building and 1111 Avenue of the Americas

    From left: One World Trade Center, the Empire State Building and 1111 Avenue of the Americas

    As New York City developers gear up to scale ever greater heights with potentially record-breaking projects like One Vanderbilt, Extell’s 225 West 57th Street and 432 Park Avenue, TRD takes a look at the current batch of tallest skyscrapers. Click here for the slideshow.

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  • From left: Empire State Building and Bulova watch

    From left: Empire State Building and Bulova watch

    Luxury watchmaker Bulova has agreed to take a full floor at the Empire State Building, a deal that will see its staff move from its current location in Queens.

    The company signed a 15-year lease for 33,214 square feet on the 29th floor of the iconic office building, the New York Post reported. Asking rent for the space was $60 per square foot. [more]

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  • Anthony Malkin and the Empire State Building

    From left: the Empire State Building and Anthony Malkin

    Attorneys for the Malkin family have asked a judge to dismiss the latest lawsuit brought by investors in the Empire State Building, saying the family gained immunity from such litigation as part of a $55 million settlement reached in November 2012.

    The investors in the current suit allege that they lost $410 million in potential profit because the building’s managers, Peter and Anthony Malkin, did not entertain offers that would have generated a higher return than what investors received when the Malkins eventually rolled the Empire State Building into a new real estate investment trust, Bloomberg News reported. [more]

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  • From left: 40 Wall Street, former Twin Towers at 1 and 2 World Trade Center and the Empire State Building 350 Fifth Avenue

    40 Wall Street, former Twin Towers at 1 and 2 World Trade Center and the Empire State Building 350 Fifth Avenue

    Two years ago, Barclays introduced its Skyscraper Index, which suggests that construction booms, highlighted by record-breaking skyscrapers, coincide with the beginning of economic downturns. Click here to see 10 skyscrapers that coincided with the financial crises of their times.

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  • Empire State Building and Anthony Malkin (inset)

    Empire State Building and Anthony Malkin (inset)

    Malkin Holdings’ buyout provision for shareholders who voted against taking the Empire State Building public has been ruled legal in State Appellate Court. [more]

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  • Anthony Malkin and the Empire State Building

    Anthony Malkin and the Empire State Building

    Another day, another lawsuit against the Malkin family, the former majority owners of the Empire State Building who placed the iconic building in a publicly traded REIT last year.

    This suit, filed by former investors last week in New York State Supreme Court, claims that they lost $600 million when the Malkins allegedly breached their fiduciary duty. [more]

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  • From left: Joseph Sitt, the Empire State Building and Anthony Malkin

    From left: Joseph Sitt, the Empire State Building and Anthony Malkin

    Shareholders in the Empire State Building have filed yet another lawsuit against the fledgling Empire State Realty Trust, alleging that the Malkin family and executives of the real estate investment trust had their self-interest paramount when opting to take the tower public, resulting in a $500 million loss for shareholders. [more]

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  • Bill-de-Blasio-and-family

    Mayor Bill de Blasio (center) and his family

    year_in_reviewNew York City real estate can sometimes feel like a blood sport, with a host of rivals vying to get the upper hand. Luckily, here at The Real Deal, we have a ringside seat. And in 2013, the industry did not disappoint. Office towers traded for more than $1 billion, retail rents cracked $3,000 per square foot, and $100 million became the new $50 million in residential listings. The Midtown East rezoning came and went, as did more than one commercial brokerage CEO. And let’s not forget that little matter of the mayoral election. Read on for the editorial staff’s picks of the biggest stories of the year. [more]

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  • Empire State Building and Anthony Malkin (inset)

    Empire State Building and Anthony Malkin (inset)

    The saga of the Empire State Building’s initial public offering continues. Investors in the Midtown tower filed a new lawsuit alleging that they lost out on up to $400 million due to the decision of the Malkin family, whose company manages the building, to take the building public rather than sell it to private investors.

    “At a bare minimum, the Malkins should have, but did not, meaningfully engage with the bidders,” the suit, filed in New York State Supreme Court on Dec. 24, stated. The building and about 18 others officially transferred over to the nascent Empire State Realty Trust for $1.89 billion — a far cry from the $2.2 billion and more that investors such as Joseph Sitt and Rubin Schron had offered for the tower alone, as The Real Deal reported. [more]

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  • Malkin-ESB-Helmsley

    From left: Anthony Malkin, the Empire State Building and Harry and Leona Helmsley

    The New York Attorney General’s office will review the estate of Leona M. Helmsley’s sale of its stake in a portfolio of properties, including the Empire State Building, according to several insiders’ interpretations of the oversight process, which is outlined on the agency’s website. [more]

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  • Jason Meister

    Jason Meister

    Jason Meister, a broker and vice president at commercial brokerage Avison Young, who represented both Joseph Sitt and Rubin Schron in their unsuccessful bids for the Empire State Building, compared the building’s initial public offering to Obamacare on television yesterday. See full story and video after the jump.

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  • Edelman-Machleder--ESB-P-Malkin

    From left: Richard Edelman, Robert Machleder, the Empire State Building and Peter Malkin

    The base investment unit that thousands of individual investors used to measure their stakes in the Empire State Building are worth about $82,000 less than Malkin Holdings’ oft-cited projections, a month after the Empire State Realty Trust, a real estate investment trust that includes the building, went public, sources told The Real Deal. [more]

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