NEW YORK CITY-Throwing a pair of giant monkey wrenches into Malkin Holdings LLC's plan to create an 18-building REIT, two more potential buyers have come forth with offers to purchase the Empire State Building, for $2 billion and above.
Thor Equities' CEO Joseph Sitt made an all-cash bid “north of $2.1 billion,” says his broker, Jason Meister, VP of Avison Young, noting he couldn't reveal just how north Sitt offered to go. A Thor spokesman declined to comment.
Meanwhile, Bloomberg revealed Wednesday that a $2.1 billion offering has been made by a Middle Eastern group that joined Philip Pilevsky, chairman and CEO of Philips International and Joe Tabak, CEO of Princeton Holdings. A call by GlobeSt.com to Tabak was not returned. Pilevsky tells Bloomberg that he could not reveal the investor group's identity, noting, “My partners want to be discreet.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
