Seeking Alpha

Empire State Realty Trust, Inc. (ESRT)

  • Jun. 30, 2013, 1:37 AM
    Malkin Holdings has received the third bid in less than two weeks for the Empire State Building (ESB), this time an offer "north of $2.1B in cash" from New York property magnate Joseph Sitt. The proposal is higher than bids of up to $2.1B from real-estate mogul Rubin Schron and a group of Middle Eastern and European investors, but is short of the $2.53B that an independent appraisal has valued the tower at. Malkin is also in the process of listing Empire State Building as part of a REIT.
    | Jun. 30, 2013, 1:37 AM | 5 Comments
  • Jun. 19, 2013, 4:45 AM
    The Empire State Building is the subject of a $2B offer from privately held New York company Cammeby's International Group, which is headed by real-estate mogul Rubin Schron. The bid is below the $2.33B after-debt value that an appraisal last summer placed on the iconic 102-story building. The proposal comes three weeks after the tower's investors authorized a plan to put it in a REIT called Empire State Realty Trust (ESB) with 17 other properties and take it public.
    | Jun. 19, 2013, 4:45 AM | Comment!
ESRT vs. ETF Alternatives
Company Description
Empire State Realty Trust Inc is a self-administered and self-managed real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area.
Sector: Financial
Country: United States