Search
 

Trump Looks to Leave Behind Empire State Building Conflicts with Sale of His Interest

NEW YORK CITY-Donald Trump has approached fellow owners and long-time adversaries Leona Helmsley and Peter Malkin, discussing purchasing his interest in the Empire State Building.

By Amy Vaughn | Updated on September 11, 2000

NEW YORK CITY-After years of conflict over control of the Empire State Building, one of New York’s most popular tourist attractions since its completion in 1931, Donald Trump wants out, according to published reports.

Trump and Japanese magnate Hideki Yokoi’s survivors technically own the property, but Leona Helmsley, widow of real-estate giant Harry Helmsley, and Manhattan attorney Peter Malkin hold lucrative long-term leases of the property. Trump and the Helmsley-Malkin group have battled for years over their claims to the reins of the building.

Trump had even attempted to gain control of the building by taking Helmsley and Malkin to court in 1994, claiming that they had allowed the building to deteriorate. The state court and the court of appeals both determined that Trump’s group failed to prove their case, finding for the defendants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.