NEW YORK CITY-Empire State Building Associates LLC, the Malkin Holdings LLC that owns the iconic Manhattan tower, said in an SEC filing Tuesday that it may file to become a real estate investment trust. Malkin “has embarked on a course of action that could result in the company becoming part of a newly formed public REIT,” according to the filing.
Malkin also said in the filing that for legal reasons, it is not in a position to disclose more information until further documents are filed in about three months. There was no further comment. A company representative could not be reached in time for this story.
The Malkin family has owned the 2.9-million-square-foot office building since 2002. In September 2011, the 80-year-old building earned LEED gold for Existing Buildings, thanks in part to a $550 million retrofit completed in partnership with Chicago-based Jones Lang LaSalle. Improvements here include building-wide mechanical, security and electrical systems, as well as a new art deco lobby and ceiling, new messenger center, restrooms, air-conditioned public corridors, marble elevator cabs and 6,500 new windows.
In this past year, the building at 350 Fifth Ave. has seen a number of new or expanding leases. Li & Fung committed to 490,000 square feet in January, and Coty Inc. plans to expand to more than 187,000 square feet. People’s Daily Online and LinkedIn.com also signed leases this past summer.
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