Jewish Empire State Building bidders told No Thanks
Malkin Holdings, the company that controls the Empire State Building, had a word for the Jewish investors who in recent months have made 10-digit offers for the city’s best known spire: fuhgeddaboutit.
In an official filing with the SEC Malkin rejected several offers for its crown jewel and most famous spire. Malkin will now press ahead with plans to include the Empire State Building in a new, 19-building publicly-traded real estate trust.
The filing comes after a number of large Manhattan landlords had stepped forward to try to buy the Empire State Building in recent months. Among them were Ruby Schron, owner of the Woolworth Building; and Joseph Sitt, a landlord who holds millions of square feet of office and retail space in the city. Both offered more than $2 billion for the building.
Several sources speculated that if Mr. Shron, Mr. Sitt or another bidder raised their offer well in excess of a roughly $2.6 billion valuation of the building done months ago, it could prompt more shareholders to call for a private sale. So far, the offers have come well short of that.