Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Empire State Building Supervisors Reject New Bid as IPO Proceeds

Malkin Holdings LLC, the supervisor of New York’s Empire State Building, rejected a $1.4 billion offer for the title and lease to the tower and said it won’t entertain any more alternatives to an initial public offering.

The Malkins, who earlier this month rejected bids for interests in the skyscraper, said in a regulatory filing today that the $1.4 billion offer’s potential value would be materially less to investors. The company is “fully committed” to proceeding with an IPO of Empire State Realty Trust Inc., which would hold the tower and 20 other New York-area properties.

Thor Equities LLC, run by Joseph Sitt, last week offered $1.4 billion for the title to the 102-story tower, according to a letter from Stephen Meister, an attorney representing investors opposed to the IPO.

Lazard Ltd. acted as the Malkins’s independent adviser in evaluating the bids.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.