Malkin family plans to sell stock on the Empire State Building

New York /
Apr.April 13, 2011 10:59 AM
Tony Malkin and the Empire State Building

Father and son owners of the Empire State Building, Peter and Tony Malkin, are planning to create a publicly traded company comprised of numerous New York City buildings in their real estate portfolio, according to the New York Times. At the forefront of the collection of buildings, is the city’s most famous tower. As previously reported by The Real Deal, since buying out their partners in the Empire State Building, the Malkins have ratcheted up their efforts, and have opened their wallets, to transform the building from an aging monument with hundreds of small tenants, to a leading destination for major New York City businesses. Under this plan, anyone will be able to buy stock in the company that owns the Empire State Building, as well as One Grand Central and 250 West 57th Street, in the Malkin’s effort to raise cash. While the building’s international recognition will surely draw investors, so too will the opportunity to invest in a leading Manhattan office property. [NYT]


Related Articles

arrow_forward_ios
Empire State Realty Trust's Tony Malkin (Empire State Realty Trust, Getty)
ESRT eyes more capital allocation as leasing strengthens
ESRT eyes more capital allocation as leasing strengthens
Michael Jordan with 1 West 34th Street
Sneaker shop makes big jump to 1 West 34th Street
Sneaker shop makes big jump to 1 West 34th Street
Empire State Realty Trust’s Tony Malkin and L+M’s Ron Moelis. Carbon molecules floating from an open book, against nyc skyline (iStock, Illustration by Kevin Cifuentes for The Real Deal)
NY unveils “playbook” for building owners to cut emissions
NY unveils “playbook” for building owners to cut emissions
Empire State Realty Trust's Anthony Malkin (Getty, iStock/Illustration by Kevin Rebong for The Real Deal)
More multifamily deals coming, Tony Malkin says
More multifamily deals coming, Tony Malkin says
Tishman Speyer buys pair of industrial assets in diversification play
Tishman Speyer buys pair of industrial assets in diversification play
Tishman Speyer buys pair of industrial assets in diversification play
Residents at Sven in Long Island City will be able to control the light show atop their building, as well as some in Manhattan. (Spireworks)
LIC tower giving residents chance to light up night
LIC tower giving residents chance to light up night
Empire State Realty Trust CEO Tony Malkin (Getty, iStock)
Empire State Realty’s multifamily play baffles experts, investors
Empire State Realty’s multifamily play baffles experts, investors
Empire State Realty Trust CEO Tony Malkin (Getty, iStock)
ESRT braces for more pain at Empire State Building
ESRT braces for more pain at Empire State Building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...