Trump considering offers for Empire State Building.

Donald Trump is considering four offers for his stake in the Empire State Building.

One of those bids is from Peter Malkin, whose investment group controls the 115-year master lease to the property. The three remaining bids were placed by unnamed foreign parties, according to Trump.

"In the next few months we will be considering the offers, and we hope to make a decision then," said Donald Trump, president of the Trump Organization.

Trump has reportedly wanted to sell the building for years, though he has said publicly that he "love(s) the asset."

He owns the Empire State Building in a partnership with Japanese investors. If he sells his stake to Malkin--who manages the building with Leona Helmsley--it would unravel one of the most complex ownership structures in Manhattan real estate.

Though Trump would not disclose the bids, published reports place the bids around $61 million, four million dollars more than Malkin's bid of $57 million. Malkin said that he and Trump are meeting in Florida to play golf and negotiate a deal later on this month. If Malkin purchases Trump's stake, the value of the building could rise.

A recent Wall Street Journal article quoted Malkin as saying that the proposal was "an intelligent decision" since it would reunite the leaseholder and ownership of the building.

He might be correct, since the complex ownership structure has made it a difficult building to manage. Malkin's long-term lease doesn't expire until 2076. In addition to controlling the partnership--Empire State Building Associates--Malkin also holds the long-term lease. But he also subleases the building to another entity controlled by Leona Helmsley.

Malkin is an investor in the Helmsley-controlled partnership, and the Journal article reported that Malkin approached Helmsley about bidding for the building via that entity. Despite the building's world-famous status, Trump's stake doesn't earn much on a yearly basis. His partnership reportedly gets only $1.97 million a year under the 115-year lease negotiated by Malkin and Harry Helmsely in 1961.

The recent ownership history of the building is as dramatic as the views from its observation deck. A string of disputes--both legal and otherwise-characterize the working relationship between Trump, Malkin and Helmsley. Trump himself dueled with Leona Helmsely years ago over his plan to turn the top floors of the building into pricey condominiums.

"I have received consents from the participants authorizing me to negotiate a purchase," said Malkin, referring to his group of investors. Malkin and Helmsley are co-managing partners of the Empire State Building Company.

Helmsley therefore has a controlling interest in the building. A report from the Wall Street Journal predicted that the value of the Empire State Building would increase if Malkin buys Trump out of the building.