As GlobeSt.com reported last month when the Trump deal was sealed, the complex ownership structure of the building still involves the Helmsley organization, which manages the property and holds three of the 3,330 shares in Malkin's group as well as a sublease on the building.
At the time we reported that Malkin clearly prevailed over Helmsley-Spear executive Irving Schneider's State Supreme Court lawsuit seeking to block the deal.
Schneider owns a single share in the Malkin group and was said to be litigating to keep his firm from losing the management and rental fees it derives from the building.
According to published reports, a win by the Helmsley group now would clearly restrict Malkin's involvement in the landmark property.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
