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Sunday, Sep 8
Malkin rejects offers for Empire State Building
- Malkin Holdings has turned down bids of over $2B to acquire control of the Empire State Building or its operating lease positions and will instead continue with a plan to take the tower public via a REIT that includes 20 other properties.
- An independent appraisal has valued the skyscraper at $2.53B and it's unclear if any of the proposals matched that valuation.